real estate closings: Ask the Title Guy - How do I make sure that my closing is wired? Part 3 - 06/19/09 05:52 AM
Indiana's new Good Better Funds Law is effective July 1, 2009. Many of my clients are expressing concerns about back to back real estate closings and how to avoid long delays in funding while waiting for wire transfers to be received by the title company. If a chain of two or … (3 comments)
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real estate closings: Ask the Title Guy - How do I make sure that my closing is wired? Part 2 - 06/12/09 05:19 AM
Beginning July 1, 2009 the logistics surrounding many Indiana real estate closings will become even more complicated. House Enrolled Act 1374 effectively requires that most funds received by a title company or settlement agent for a closing be wire transferred. Cashier's and certified checks will only be acceptable for amounts under … (1 comments)
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real estate closings: Ask the Title Guy - How do I make sure my that closing is wired? Part 1 - 06/10/09 05:13 AM
I hope that by now all Indiana Realtors®, mortgage lenders and other real estate professionals know about Indiana House Bill 1374. This new law, which is effective on July 1, 2009, prohibits title companies from disbursing real estate closings without funds over $10,000 having been wire transferred to the title … (4 comments)
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real estate closings: Monroe County Property Tax Update - Bills In the Mail - 06/03/09 03:55 AM
Here's an update on the situation with real estate taxes based upon actual knowledge and an informal telephone survey made yesterday.
The Monroe Country Treasurer mailed property tax bills Friday May 29th. We are now using the 2008 pay in 2009 real estate tax amounts for all payments and prorations. The … (0 comments)
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real estate closings: Coming Soon - Monroe County Property Taxes Bills - 05/19/09 09:09 AM
The amounts of Monroe County Property Taxes for the tax year 2008 payable in 2009 should be official this week. The county treasurer will mail the tax bills shortly thereafter and the first installment of property taxes will be due Friday June 26, 2009.
We currently have access to the uncertified … (0 comments)
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real estate closings: Sorry, the check from your bank is no longer good (enough). - 05/15/09 09:41 AM
Under a new Indiana law title companies will no longer be allowed to accept cashiers, corporate, or personal checks for their real estate closings after July 1, 2009. Mortgage lenders and many real estate buyers will need to wire transfer their funds to the title company or closing agent in most … (43 comments)
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real estate closings: Slowdown on the Road to Closing - 04/06/09 05:12 AM
My real estate closing and title insurance business remained challenging during the first quarter of 2009 but in a totally different way that the previous six months. Opened order counts were the best since the first three months of 2004.
The challenging part for us is not getting the preliminary … (5 comments)
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real estate closings: I'm sorry. I don't see you on my calendar. - 02/20/09 08:18 AM
Last Wednesday at 9:00 a.m. sharp at John Bethell Title Company a nice couple walked into our Downtown office for their refinance closing. The same closing that was on our calendar for 9:00 a.m. - at our East office-- for next Monday.
Yikes!
Then began the questions. The phone calls. A … (0 comments)
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real estate closings: Introducing Claire Voyant - New Member of the Team! - 02/13/09 11:50 AM
Meet Claire Voyant, who just joined John Bethell Title Company, Inc. Claire, is now assisting our closing team in predicting the property tax amounts for our real estate closing tax payment escrows.
Every year at this time lenders begin requiring that we insure them that the spring tax payment … (6 comments)
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real estate closings: Ask the Title Guy! What’s this Commitment thing all about? - 02/08/09 03:55 PM
After conducting thousands of closings I know that the title insurance commitment is the least understood and most ignored of all the residential real estate closing documents. Few buyers understand what a title commitment is for. They just know that they need it or that their lender requires it.
The title … (0 comments)
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real estate closings: 2009 - Looking Ahead. Hoosier's Favorite Pastime! - 01/22/09 05:05 AM
If you're not from Indiana, you can't appreciate how involved we all get at this time of year. Watching it on TV. Reading about it in the paper. Passionately rehashing the strategy and decisions every day at the water cooler, in coffee shops and in bars all over the Hoosier State.
… (4 comments)
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real estate closings: 2009 Changes - Pay Close Attention - Part 3 - 01/09/09 06:05 AM
Hey folks! Money is on sale! Get it while it lasts! Money in the form of mortgage loans for credit worthy homeowners and home buyers with equity in the deal, that is. Rates are great. Really great! People are rushing to refinance. Your chosen title company (and everyone else in the … (5 comments)
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real estate closings: 2009 - Looking Ahead. Pay Close Attention. Part 2 - 01/07/09 12:32 PM
For the next few days, I'll be posting about 2009 changes to the Real Estate Closing and Title Insurance business.
Have you seen your friendly neighborhood title guy lately? Possibly not. Many of us are buried under a sudden avalanche of refinance title insurance orders.
New Title Orders Explode
After … (2 comments)
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real estate closings: A Title Company is like our children - always questioning authority. - 12/01/08 08:37 PM
No, we're not trying to be the boss of you, but at least 25 percent of our real estate closings involve a question of authority. That is, does each of the parties sitting in my closing room have the authority to complete their part of the transaction?
If a party at … (29 comments)
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real estate closings: 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 … (8 comments)
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real estate closings: Who wants to be a Loan Underwriter? Not me. - 11/04/08 06:39 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 … (0 comments)
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real estate closings: 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 … (5 comments)
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real estate closings: Insured Closing? Not for the seller. - 10/15/08 05:27 AM
This post deals with Insured Closings from the seller's side. Earlier this month I posted about Insured Closings from a buyer's perspective; what is and is not actually insured.
To quickly recap, an Insured Closing is when the title insurance underwriter (not the local agent, but the actual insurance company) issues … (6 comments)
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real estate closings: How much FDIC Insurance does your Title Company’s escrow account get? More than you think! - 10/03/08 05:50 AM
A client asked me yesterday "How much FDIC Insurance does your escrow account get?" Wow! Is this a sign of the Apocalypse or what?
The quick answer to my client's question is that if the escrow account is set up and administered correctly, then the FDIC will treat each individual closing … (7 comments)
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real estate closings: What is an Insured Closing? Less than Meets the Eye. - 10/01/08 06:25 AM
In Indiana, we close and disburse at the closing table, not in Escrow. Most title companies in Indiana and many elsewhere advertise Insured Closings as well as title insurance and other services. But what is an insured closing? It is a broad term that is ripe for misunderstanding.
An insured closing … (2 comments)
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