Remember your mother . . . perhaps she was ranting and raving. "Keep your elbows off the table." "It's only funny until someone loses an eye."

Well . . . I've turned into her. I am her. "How many times do I have to tell you to order the preliminary title report when you take the listing?"

And then, by the way, you need to read the report, too! (Small detail, I know.)

Here's the deal: If you are working the pre-foreclosure market or if you are working with properties in distress or property owners who have faced some tough times, there may be unanticipated liens against the property. You need to know about these liens when you take the listing.

If the listing is a short sale, who is going to pay the liens? Are they institutional (bank liens or mortgages)? Are they HOA liens? county tax liens? abstracts of judgment?

Certain items--no matter how hard you try--will not be paid for by the bank in a short sale. So, you need to make the seller aware that if s/he wants to close the deal, these items will need to be cleared.

By the way, even if you are not working short sales, it is always a good idea to order and study the preliminary title report as early as possible. Then you will have ample time to deal with any problems that may come your way.

Now . . . it's probably also a good idea to "eat your vegetables"!

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