When an agent receives the preliminary title report, what do they need to review? I highlight some key areas that agents need to check. Some agents I questioned told me they simply put the report into their file. This is not the answer I was hoping for. Escrow needs agents to check Sched
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07/21/2010
What goes into preparing the pre-audit? I discuss the process, including the most important piece of the puzzle, review and approval. The lender and both agents need to carefully review the pre-audit. Escrow will need approval from them to proceed with the buyer and seller signings. The
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07/19/2010
It's one of the most common questions we get. Our answer is always the same. As soon as we prepare the HUD-1 and get lender approval, we'll get your client in to sign. Experience has shown that trying to schedule clients any earlier in the process is futile. What are your experiences with this?
07/16/2010
Last night on the ESPY's, the Ed Thomas family won the Arthur Ashe courage award. If you don't know the story of the high school football coach from Parkersburg Iowa, you must watch the video by clicking the link below. In my opinion, the message delivered in this story is one that will stay
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07/15/2010
When a relocation company is involved in an escrow, there are a few extra steps. First, the relocation company will choose the title company. They have agreements, much like REO banks, with specific title companies. Second, they want the escrow to close in a certain way, and they have to give
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07/14/2010
After the buyer signs the loan package, what's next? The documents must be "flipped" or packaged and returned to the lender for funding if so required, or portions of the package are faxed/e-mailed per the lender's requirements. This is a crucial component of an escrow office's duties. By
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07/13/2010
Every single escrow transaction in our office is affected by property taxes. Property taxes are also a source of confusion for many buyers and sellers. I discuss the different ways property taxes affect a standard residential transaction... Remember, this is for Arizona only as each state, and
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07/09/2010
Your Social Graph, or your network of connections you communicate and share information with, is extremely important to you and your business. Provide great service (sorry, there is no way around this) and your social graph will let their connections know all about it. Here's an example of m
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07/06/2010
FIRPTA, or the Foreign Investment in Real Property Act of 1980 closed a loophole in the tax code regarding capital gains realized by the sale of real property by foreign nationals. If you are the listing agent and your sellers are foreign nationals, you need to understand this code. Likewise
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07/02/2010
I think we take for granted that agents know what we do. Like any industry, buzzwords and insider lingo are used in a title office with the notion that everyone knows what's being said. I hope this video clears up what happens as we near the end of an escrow. Remember, this is for Arizona,
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06/30/2010
