"A Search and Hold provides information of record as to the current property owner, to be used for reference when listing a property."

This product also advises the Realtor and Lender of any potential pitfalls such as an IRS lien, unreleased mortgage, 2nd or 3rd mortgage,lis pends, other names in title, divorce's old & new, as well as trusts etc..etc...etc...etc..! In addition, it shows AMOUNTS OWED....that allows EVERYONE to JUST DO THE MATH!

I REALIZE that Realtors already UNDERSTAND what this is!  so...please dont attack me for being BASIC!


HOWEVER, I don't understand why they are not used as often as they should be?  Here in Wisconsin, some of the Realestate firms have an ownership interest in a Title Company for pete sake......soooo....it cannot be the cost factor.

So, what is the reason?  You tell me!!

Recently, I have had 4 seperate deals with title issues that could not, or would not be solved.  These came up ONLY AFTER we had already waited 2 months for a contract to be approved, I had fielded over 2 dozen phone calls from the buyer, I had MET with the buyer "just stopping by" over 6 times, and I had HOURS UPON HOURS into the deal!  These deals all had ONE THING IN COMMON....

If a Search & Hold had been performed the buyer would have moved on to a different house!

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Like many Lenders & Realtors today, we spend more time educating our borrowers than EVER BEFORE!

This has always been important to me personally, and our company...however, now it is at an all time EXTREME LEVEL!

At some point though these borrowwers, loan applications, or Prospects do become a Ball & Chain!   So, I ask you, at what point do we cut them loose?  I know it is difficult for anyone to do...but time wise, and based on current market conditions, this is CRITICAL to TIME MANAGEMENT!

Are we horrible people for doing this?..I say no...Are we letting a potential "sale" go to someone else?...maybe, but I doubt it!

Are we letting our customer down by "cutting the chain??"  You never know..we might be doing them a favor!

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All in all, I personally believe a Search & Hold should be done by each and every REALTOR that lists a property today!!  For Sale by Owners that you are trying to convert to listings need to know this too, and this gives you ONE MORE BIT OF AMMO to make the sale, doesnt it? 

Today's market is littered with pitfalls, and I think we all need to be about ELIMINATING as many of them as "potentials" as SOON AS POSSIBLE!

Our time is valuable, and we create value by proper Time Management, being true to our word, and being as upfront as possible!   If we cannot do the deal, we need to KNOW UP FRONT!  That way, the consumer can move on to a different home before they fall in love with one they cannot get!

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Thanks for reading & Keep selling!

-Darin-

As always, I welcome your concerns,comments,issues and suggestions!

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