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purchasing real estate: A Rolling Stone Gathers No Moss . . . Then Smacks the Title Company - 11/17/08 11:17 AM
Steve Dalton commented on my last post that sometimes "title companies get in the way" of closing legitimate real estate purchases and refinances.
Title companies are at the bottom of the hill that is a real estate transaction.

And guess what? It all rolls down hill. Delays, misunderstandings, mistakes, and last minute stipulations get compressed as the closing date looms. And since the title company is the last one that generally has to do anything prior to closing, I'm not surprised, and even expect, that clients may feel that we get in the way from time to time.
What may … (11 comments)

purchasing real estate: Who wants to be a loan underwriter? Not me. - 10/31/08 06:23 AM
Getting deals closed is increasingly frustrating. The current dynamic nature of loan programs and guidelines is making everything more difficult. The lightening rod for all of this is often the loan underwriter. I'll admit that more than once I've wondered why something is a problem on a deal where the buyer is putting 30 or 40 percent down.
I've tried to imagine what it must be like to be a loan underwriter now. Rather than incur my wrath, loan underwriters now engender my sympathy and understanding.
Many go to work in a large office with few people. Cubical ghost towns. Friends … (5 comments)

purchasing real estate: Four common mistakes in Land Contract Sales - 10/23/08 04:41 AM
There's a right way and a wrong way to buy on Land Contract, a popular form of seller financing in the Midwest. Here are four mistakes that I see all too frequently in Land Contract sales.
Mistake No. 1: Not recording the Land Contract or a Memorandum of Land Contract in the public records. Recording gives notice to the world of the Buyer's legal rights to the property. Although being in physical possession of the property may provide the same notice, possession is a question of fact that must be decided by a court if the priority of the Buyer's interest is challenged. … (24 comments)

purchasing real estate: To Be There or Not To Be There? That is the question! - 09/05/08 04:58 AM
I am continually perplexed by the increasing number of Buyers and Sellers who find it "inconvenient" to make time to attend their real estate closing. Yes, you can appoint an Attorney-in-Fact or do a mail out but it's not the same as being there.  I just don't get it.
A sale or purchase of a home is an important event in our lives. Most of us are only going to do this a few times. Why would you not allow yourself the opportunity to clearly understand all of the details and commitments that take place?  In the current financing environment, deals … (17 comments)

purchasing real estate: Beware - Title Insurance “Lite” - Looks GREAT, Less COVERAGE! - 09/02/08 04:23 AM
We are often provided a copy of a Seller's existing title insurance policy and a disturbing trend for Buyers is appearing. As a cost cutting move, some title companies have stopped searching for all of the recorded rights that may affect the property being purchased.
If the title commitment and policy are based upon a complete search, Schedule B exceptions from coverage will only list specific matters that have been recorded in the public records and in some jurisdictions non-specific exceptions for unrecorded matters (i.e. survey issues). More and more we're seeing policies with exceptions taken for "any and all recorded covenants, conditions, … (12 comments)

 

John Bethell

Bloomington, IN

More about me…

John Bethell Title Company, Inc.

Address: 329 South Walnut Street, Bloomington, IN, 47401

Office Phone: (812) 339-8434

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