Archive for December, 2012

Preparing Your Home For Sale, by Inwest Title, a Utah Title Company

Friday, December 28th, 2012

At Inwest Title Services we want to help you in any way we can. In addition to our services we also have relationships with real estate professionals, loan officers and others in the industry that provide us with useful tips that we want to pass on to you. One thing that is really important in the current market is making a home stand out and look its best when trying to sell it. Whether you are a real estate agent or a home owner, there are some tips than can help you sell your home.

Clean It Up: It seems obvious but it is often surprising how many homes are full of clutter, too much furniture or safety hazards that make it not show its best. Having a home that looks spacious will make buyers feel like they will fit and be comfortable. It may be necessary to put some furniture and other items in storage but make it feel roomy by applying the concept of “less is more”.

Make it Smell Good:
Bad smells make a home seem unclean and like it hasn’t been well cared for. A professional carpet cleaning will not only revitalize carpets by removing stains and minimizing the appearance of wear…but it will get rid of odors that have been trapped for years and make the rooms smell fresh. Removing litter boxes, washing pet bedding regularly, taking diapers outside immediately after changing them etc. will make a home smell its best. Air fresheners are not a bad idea either. Make your home one that is remembered because it looked and smelled its best.

Curb Appeal: Clean up the outside, keep landscaping well watered and trimmed, remove trash cans from the curb as soon as they have been picked up, keep debris, toys, etc. cleaned up, especially in front. Let the first impression in a picture or in person be the best possible.

Safety First: Keep driveways, walks and porches cleared of snow and ice in the winter, or overgrown landscaping in the summer. Don’t have potential buyers change their mind because of an injury that could have been prevented. Keep dogs confined during showings, some people are afraid of even the smallest dogs. Make sure that firearms, medications, and anything else that could be hazardous or harmful are properly secured.

Lights on: Turn on every light in the house when a showing is being expected to make it easy to see and make the home look bright and vibrant. Don’t leave your potential buyers fumbling to find a light switch in the dark.

Making your home one of the best on the market will increase the chances of it selling with the timing you need, and for the best price possible.

For this and other information on Utah Title Companies, Utah Title & Escrow, or Title Insurance Quotes locate and contact your nearest Inwest Title office at www.inwesttitle.com.

 

 

No Split Closings on Cash Deals in Utah, by Inwest Title, a Utah Title Company

Thursday, December 20th, 2012

Have you ever been involved in a split purchase transaction where the Buyer and Seller want to close at different title companies in Utah, only to be informed that your cash Buyer has to close with the Seller’s title company?  Is this True? Can they force your Buyer to do this?  Why is this happening?

This issue first arose in 2007 when the Utah Insurance Department issued a bulletin announcing their official position that under the Insurance laws a title company that was only handling the cash side of a purchase was not authorized to conduct an escrow since they would not be issuing a title insurance policy.  For a while after this a few title companies tested the waters claiming the statutory language was ambiguous and elected to close Buyer side cash closings anyway.  Ultimately, these companies were pursued, fined, placed on probation, and ended up losing their battles with the Utah Insurance Department.  Additionally, a few years ago the Division’s position was further strengthened by an amendment to the insurance laws (see 31A-23a-406(1)(c))  that clarified the language stating a title company must issue a policy in order to conduct an escrow.  (There is a minor exception to this rule when a title company is dealing with mobile homes, grazing rights, or water rights.)

Is everyone happy with the result? No, but it is the law and it is unlikely to change.

Potential Solutions for your cash Buyer:

  1. Negotiate in the REPC that the Seller close and purchase title insurance from a title company selected by the Buyer;
  2. Request the Buyer be permitted to do a courtesy signing at the title company of their choice.  (This will mean the Seller’s title company will still prepare all the documents and receive all funds, but the signing can take place elsewhere); or
  3. Close with the Seller’s title company.

For this and other information on Utah Title Companies, Utah Title & Escrow, or Title Insurance Quotes locate and contact your nearest Inwest Title office at www.inwesttitle.com.

 

What is a Title Plant? By Inwest Title, a Utah Title Company

Thursday, December 6th, 2012

Have you ever heard the two words, “title plant” together and wondered, “What is that?”  Question no more because today is your lucky day! Below is an explanation of what and where our title plant is located and how it can be beneficial for you and your clients.  Be sure to watch the video for an even closer look at onsite footage and further insight regarding our title plant!

Inwest’s title plant is a privately owned facility located in West Haven Utah.  Inwest Title Services owns all of the county record information including abstracts, plat maps, documents, and important information necessary to complete a title examination.  One of the many benefits of owning our own title plant is full access to information on our own schedule without the delay of limited courthouse hours.

Our title plant was built in 2002 and serves many purposes.  The plant has ten departments and retains thirty-eight employees.  We have built more individual county title plants than any other title company in Utah and are progressively building new title plants for outlying counties.  We have title records for 93% of the population of Utah and will soon have county records for the entire state.  This allows customers unprecedented access to information about most cities or counties in Utah.

For this and other information on Utah Title Companies, Utah Title & Escrow, or Title Insurance quotes locate and contact your nearest Inwest Title office at www.inwesttitle.com.