The Importance of using a Reputable, Respected & Trusted Title & Escrow Company

By
Real Estate Agent with Berkshire Hathaway HomeServices 01238708

The Importance of using a Reputable, Respected & Trusted Title & Escrow Company

The Importance of using a Reputable Respected & Trusted Title & Escrow Company has become more important than ever. It made me think how critical a Trustworthy Escrow & Title Co. is in our everyday transactions.

As I was reading The FBI's (Federal Bureau of Investigation's) Baltimore press- release dated April 08, 2011. I was just floored by the headline:  "Title Company Owner Pleads Guilty to Wire Fraud in Connection with Mortgage Scheme Involving Losses of Over $2.2 Million Was a Fugitive for Almost a Year".

Wow now that is a headline which says it all.

 Daniel E. Fink, Jr. age 44 operated Homemaxx Title & Escrow LLC (Homemaxx) in the Middle River and Parkville Maryland area. Fink was defrauding lenders during the period of 2003 to 2004, some of these actions involved not disbursing funds and improperly transferring substantial amounts of money for personal expenditures.

All I can say is Wow, so all those Agents who want to make "the deal" and do not insist on a Reputable, well known Title & Escrow Co. be warned you are potentially risking your client's money.

If you are a consumer  who is considering buying  or selling  a home, investment real estate, vacation homes, or beach properties in Southern California, Los Angeles, Century City, Westwood, West Hollywood, Beverly Hills, Culver City, Marina Del Rey, Venice or Malibu. Feel Free to give me a call at 310.486.1002 (USA) or email me at homes@endrebarath.com or visit one of my websites at http://www.endrebarath.com Your Pet Friendly Realtor. I contribute a portion of my commission to Local Animal Rescue Organizations

 

Comments (7)

Juli Vosmik
Dominion Fine Properties - Scottsdale, AZ
Scottsdale/Cave Creek, AZ real estate 480-710-0739

So, here's my take on committing fraud.  If I were ever to do it, it would have to be for hundred's of millions if not billions of dollars - on the Maddoff scale.  It would have to be enough for me to live comfortably for the rest of my life in a non-extradition country.  And, I would have to have no family or friends living because I would hate to think of never seeing my loved ones again.  Oh, never mind, NOTHING is worth the fraud.  There's so much money to be made doing things legally if it's done correctly and honestly - why let greed get in the way.  I will never understand it. 

Thanks for the post, Endre.  The other thing about greedy, illegal shysters is their belief they will never get caught!!!  Arrogance or stupidity?  I don't know - I'm just glad they're getting caught.

Apr 15, 2011 10:48 AM
Ken Barker RealtorĀ® GRI, E-Pro Certified
Dilbeck Real Estate - Burbank, CA

Endre - And it is these companies that pop up. It can be real estate companies, escrow companies and even title companies. People get a way with a lot before they get caught.
This is why I am always so insistent on my title when I can. They have proven to me to surpass other title companies.

Thanks for the story.

Apr 15, 2011 04:13 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Juli, thank you for your input:)) Comment :)) mini post:)) I totally agree with you about all of it....

Apr 15, 2011 06:27 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Ken, many agents, newer agents do not understand the importance of having a Reputable Escrow & Title Company, so I hope this will make them think twice... Or their buyers will think twice:))

Apr 15, 2011 06:28 PM
Jason Sardi
Auto & Home & Life Insurance throughout North Carolina - Charlotte, NC
Your Agent for Life

Juli Rules!

That was one hell of a comment.

And Endre, I agree that a Title Company has a damn important role in the process.  My only offering outside of what has been discussed is are they reputable and are there referral fees being exchanged in the process?

If there are, I'm fine with it.  As long as I know ...

Apr 16, 2011 04:20 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Jason, I agree with you 100% as long as we know...BTW thanks for stopping in:)

Apr 16, 2011 05:13 PM
Charles Edwards Bentonville
Coldwell Banker Harris McHaney & Faucette 479-253-3796 - Bentonville, AR
AR REALTOR, Bentonville Real Estate Agent and Broker

Endre, I agree that it is very important to work with a reputable Title Co. Our contracts offer the opportunity to buy insurance against such calamity. Almost no one ever pays the $25. Rather as agents we just want that connection with that title rep that we can rely on to get paperwork done in a timely fashion. We  are thinking that fraud just won't happen where we are, that's for someone else.

Apr 18, 2011 12:57 AM