Sometimes there are title issues, complicated closing issues, divorce situations, marital property issues, questions of ownership, situations that involve attorneys, questions of fraud, etc. that take time to clear up before a file can close. Every property doesn't have clear title.. Sometimes a quiet title must be done which may fix the exact problem, but may also slow down the whole process of closing.

Many people think that if they tell the title agent how to do their job, it will speed up the process. These same people are not the ones insuring the property with title insurance.They are not the title agent, and although it is always good to listen to another person's opinion, ultimately the title agent and the title  underwriter will have to make and satisfy the requirements for the closing.

Don't get caught up in the hype or rush that may surround the closing. It is the title agent's job to do what is right - to provide and be able to insure clear title to the new buyer and/or lender. Sometimes "Hurry Up" means "Slow Down".. Who will be around if the title agent insures over something that comes back to be a problem later? If there were title claims on the majority of properties that closed, eventually title insurance companies would no longer be around, or their pricing would be so expensive that the average person could not afford to even purchase title insurance. That is one reason it is so important to close at a reputable, experienced title company.

Sometimes Hurry Up Means Slow Down. If you are  a buyer, your best bet it to make sure your title is clear, clean and insurable before you go to closing. If you have the right type of representatives,-- they will also want you to have clear title. That way, if you ever decide to sell your property you will be able to do just that and you won't be stuck with legal fees that should have been taken care of a long time ago by someone else.

 
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7 Comments on SOMETIMES "HURRY UP" MEANS "SLOW DOWN"- ALL TITLES AREN'T CLEAR

AUG
10
2008

good post.  Point well taken Stacy

9:41pm • #1
AUG
11
2008

Thanks Richard -- a lot of people may not realize how important having a clear title is..

9:19am • #2
AUG
23
2008

Well I can see your point Stacy.  Same goes for having the right real estate agent that has been around long enough to "survive".  No one understands the need until a problem surfaces and the Real Estate Agent or Title Agent or Attorney go "say what?" and don't know what to do.  They'res little substitute for "experience".

2:25pm • #3
AUG
24
2008

David - Yes, I agree, experience does make a difference. Another blog maybe?? We're all learning each day, but some of the things that other people are learning, an experienced person may have already dealt with..

7:40am • #4

YEAH....I could call the Blog "A BLOG EXPERIENCE"  lol. 

Well, there are those with Experience and then there are those with Experience

By that, I mean, if you look at the regular day-to-day average person that works 8 to 5, 5 days a week for 20+ years you have a regular Joe, but all my real estate career I've put in like 12 to 18 hours a day...I call the "Dog Years" as in 7 years for dogs per 1 year Human.  So with all the time I've spent in "hours" actually working....I've really been in the real estate business about 80 years! 

7:45am • #5

I agree. It's like which 12 hours of the day will I work. 12 being the average number. I know I've worked many times until midnight or longer at the office when needed, We do what we gotta do..

8:02am • #6
JUL
14

Hooray, Stacy!  Well said words...I wish (oh, how I wish) that every agent would order the title report on a property when they get a listing, rather than waiting until they have a signed contract that is closing next week.  It allows more time for the attention to matters that cannot, in any way, be cleared in a week.  (Ever tried to get a Bankruptcy Court to hurry?!  Yeah, that's not going to happen!) :)  It's a beautiful thing when titles are clear and the closing could potentially happen in an hour, but what if...?

1:21pm • #7

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Stacy Jones

Little Rock, AR

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West Little Rock Title Company

Address: 1431 Merrill Drive, Ste. D, Little Rock, AR, 72211

Office Phone: (501) 224-5100

Cell Phone: (501) 351-1968

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