What’s the best way to incorporate your title team when preparing a property listing for sale? In this video, Ryan Lipsey, title officer from TICOR Title, we will share the three steps you must take to maximize title efficiency for a client. First, your agent will contact the title team so they can research the properties address and run a full preliminary report. This preliminary report is a fundamental list of things we’ll have to overcome to issue a full and clear title insurance policy that will bind once the property sale transaction has closed.
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Here’s a guide to incorporating your title team when getting a listing.
1. Contact your title team (preferably us!) so they can visit the home and give a full preliminary report. This preliminary report is a fundamental list of things we’ll have to overcome to issue a full and clear title to your buyer: liens, judgments, property tax information, etc. It also gives you the full breakdown of what’s on the property, meaning any CC&Rs, easements, and things like that. This report is different from a CNA or property profile because it gives you an in-depth look at what’s happening.
2. With your title team, review the report for any red flags. If you work with our team, we’d send you an email outlining these red flags. For example, if there’s a gnarly judgment or child support lien, we’d notify you in the body of the email.
“Nobody likes dealing with any urgent issues because they got their statement of information at the last minute.”
3. Get the statement of information early. This will save you so much time and prevent a lot of headaches down the road. Nobody likes dealing with any urgent issues because they got their statement of information at the last minute. If, for example, we get a hit and there was something marked on the buyer’s social security number but not on the APN, getting the statement of information early can save your title, escrow, and transaction.
These three steps will put you on the fast track when it comes to the title of your next listing. If you have questions about this topic, don’t hesitate to call or email us. We’d love to help you. Stay tuned for more educational videos from our blog soon.
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