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Avoid Last minute deal killers, Statement of Identity aka SI's

By
Title Insurance with Ticor Title

Have you ever had a transaction that was dead in the water at the last minute? 

Why? 

Lack of submission early in a transaction of a statement of information is a top deal killer in any market, and even more so today!  Statement of infoformation or more commonly known as SI's, are valuable resource information to validate whether a debt of judgement applies to a specfic person. 

Today's marketplace is a heavy short sale marketplace, and one where people are more likely to have challenges against their name due to the hardships in todays economy. This does not mean deals cannot close, just that you need to be informed, and know how to address the challenges that arise...

Some agents don't realize that liens can be attached to a property in several ways, some attach directly to the property and some attach to the persons name. Without the SI, the title company many not be aware as to what does or does not apply related to the owners name.

If a homeowner has a very common name, or is a Junior, or Senior, there is a higher likelihood that something will be attached to the name! 

Advise: 

Please fill out your SI's when you take the listing, and we can run it right away, helping to ensure a smoother transaction!

Practical Use:

If you have not looked at a prelim lately, look in one of your files, and one of the last items is usually the request for more inforamtion to validate the person's identity! 

Sample SI

click here

SI Flier

Posted by

Ryan J. Orr

Vice-President

Ticor Title

820 N Mountain Ave 10

Upland, Ca 91786

909-767-0718

www.TTGBlog.com

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