REALSOURCE

Aug 20, 2018, 07:00 AM by System

As your title partner, we want every transaction you entrust to us to proceed smoothly to closing. But a single missing document or even a small change in circumstance can cause an unnecessary delay.
 
A proactive agent will be sure the home is priced right, will have checked out the property lines – including looking up flood zones – and been present during the home inspection to help the homeowner deal with any issues that could potentially postpone the closing.
 
In addition, here’s a short list of questions for review to help your title partner stay on top of your transaction:

• Is this a short sale?
• Is it an REO?
• Will your principals be using a Power of Attorney?
• Are any of the parties on title deceased?
• Has there been a change in marital status?
• Is there, or will there be a new entity formed, such as a partnership or corporation?
• Are the sellers of the property in-state residents?
• Is the property held in trust?
• Has the Statement of Information been returned?
• Has a bankruptcy and/or discharge been filed?
• Are there loans showing on the prelim that should have been reconveyed? 

If the answer is ‘yes’ to any of these questions, it would be in your best interest to call your title representative right away. Here’s another one to check:

• Do all parties who are signing documents have a valid photo ID or driver’s license? 

If the answer is ‘no,’ this is the time to have your clients remedy that potential obstacle.
 
Barbara Pronin is an award-winning writer based in Orange County, Calif. A former news editor with more than 30 years of experience in journalism and corporate communications, she has specialized in real estate topics for over a decade.

Published with permission from RISMedia.