Posts Tagged ‘Real Estate’

Tools for Networking by Inwest Title a Utah Title Company

Friday, June 28th, 2013

In the world of business we always hear words like Marketing, Networking, sphere of influence. These words sometimes trigger a plethora of thoughts. How do I obtain a “sphere of influence”? What tools do I need to “network” What does “marketing” mean?  No doubt, many of us feel overwhelmed in a world of social media and we may say to ourselves….I’ll put it out on facebook…I’ll tweet about it or I will join LinkedIn.

These are all great tools for getting the word out there however, there are also other places to Network, market and build a sphere of influence. When I first started in the world of marketing I knew a few people in the so called business, but not enough. I knew I had to get out there and meet people get to know them. learn who they knew and build my own sphere of influence. How you may ask? I got involved with great organizations within my business such as WCR. Through these contacts I met more great people who helped me gain knowledge and relationships. I learned about home tours and UCAR and found that there were so many people I didn’t know. I have recently joined a BNI group that meets once a week for the purpose of helping to build business. One of the best benefits of joining and participating in these groups and organizations is that while you do meet more people and increase your sphere of influence and learn how to market better. you make great friends and as you get to know them they also get to know you.  Please don’t think I’m not a fan of social media it has a great influence in business, but never underestimate good old fashioned face- to- face, one-on-one people meeting people.

I’m so grateful to the people who invited, informed, and allowed me to help each other build our business.-Cherri Gressemen; Orem Office.


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

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



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


REPC Deadline Reminder System, by Inwest Title, a Utah Title Company

Friday, October 26th, 2012

Do you and your real estate team struggle to stay on top of REPC (Real Estate Purchase Contract) deadlines from transaction to transaction?  If you work with Inwest Title Services on your real estate transaction then you need not fret.  Inwest Title Services provides their clients with timely reminders on all of their important deadlines on the REPC.  The deadline system triggers an email to your inbox when your pending deadlines are near:

*Seller Disclosure, Due Dilligence, Settlement Deadline, as well as Financing and Appraisal Deadlines all arrive 2-4 days before the deadline on the contract.

The system will also notify you of the latest REPC addendum we have received on file.

Let Inwest Title Services put your deadline worries to rest.  Place your next title order with Inwest Title Services.

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



Explaining Why Title Insurance is Necessary to your Clients, by Inwest Title, a Utah Title Company

Friday, October 19th, 2012

Other types of insurance coverage focus on possible future events and charge an annual premium, such as flood insurance or hazard insurance. Title insurance protects against loss from hazards and defects already existing in the title and is purchased with a one-time premium.

Insuring a home’s title begins with a search of public land records affecting the property. The title agent or attorney working on behalf of the underwriter examines pertinent documents to determine whether the property is insurable. Those documents include deeds, wills, trusts, outstanding mortgages and judgments, property liens, highway or utility line easements, pending legal actions and notary acknowledgements.

When title problems are disclosed during the search process, they are corrected whenever possible to avoid future claims. According to surveys done by the American Land Title Association (ALTA), title problems consistently arise in one out of three real estate transactions (36%).

Read more


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


New Real Estate Investment Advisor Designation available in Utah

Friday, October 12th, 2012

A new Real Estate designation is now available for Real Estate Investment Advisor (REIA). The first designation class date is Monday, October 15, 2012 from 8:00 am- 5:00 pm. It will be located at the Salt Lake Board of Realtors Office, 230 South Town Ridge Parkway Sandy UT. The 8-hour course will include 4 hours CORE and 4 hours Elective credit on Residential Real Estate Investing. The National Association of Real Estate Advisors (NAREIA) is sponsoring the course.

We are pleased to announce that James Seaman, Attorney at Inwest Title will be teaching the portion of the curriculum titled “Legal, Title & Closing Issues”.

Visit or the Salt Lake Board of Realtors for registration and more information.  Inwest Title Services is thrilled to be a part of this new designation course.

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


7 Title & Escrow Steps when Selling a Home, by Inwest Title a Utah Title Company

Friday, March 18th, 2011

Step #1: Place Title Insurance Order

When your client decides to put their home up for sale, submit a request for title. This can be done by:
1. Phone. Contact your local Inwest Title office
2. Internet. Contact us, and we can set you up to order and track the status of your orders online.
An Escrow Officer will be assigned to your file, and will contact you and confirm your order.

Step #2: Title Search and Preliminary Title Commitment

Inwest Title will search the title to the property and issue a preliminary title commitment. The title commitment will show any liens, or encumbrances against the property such as existing loans, taxes, judgments, etc.

Step #3: Send the Purchase Contract to your Escrow Officer

Once you have a fully executed purchase contract, it needs to be delivered or faxed to your Inwest Title Escrow Officer, so they can use that information to complete your transaction.  If you make any changes or amendments to your contract, please make sure to forward that to your Escrow Officer, as well as any Lender information that you have.  Your escrow officer, will then provide an updated title commitment to you, and the Buyer’s lender (if applicable). He/she will also discuss this title report with you, so that you fully understand it and what items will be removed as an ordinary part of the sale process.

Step #4: Preparation of the Final Closing Documents

Inwest Title will then coordinate with you, the Seller, the Buyer, and the Buyer’s Lender to receive all necessary items so that the final closing documents and settlement statements may be prepared.

Step #5: Good Funds

Occasionally, Sellers or Buyers are required to bring in funds to complete their transaction. Utah law requires that all funds must be “good,” which means that all checks have cleared the bank, before any disbursements from the escrow file can take place. For this reason, any funds that are required in order to complete the transaction should be in the form of a Bank Wire in order to avoid delays in closing.

Step #6: Closing

Your Escrow Officer will set up separate times for the Seller and the Buyer to come in and sign all of the necessary closing documents. Once everything has been successfully completed and the new deeds recorded, the money will be disbursed to the appropriate parties.

Step #7: Celebrate!!!

Congratulations!!!  You have completed a successful home sale. If you have a new title order that needs to be placed today, access our online order system at

A Brief History of Title Insurance, by Inwest Title a Utah Title Company

Thursday, January 27th, 2011

Unlike any other kind of insurance, title insurance originated in America. In 1874 Pennsylvania enacted the first statutes authorizing the issuance of title insurance. In the years that followed, title insurance became common first on the east coast, and then spread westward as real estate transactions grew in numbers. During the industrialization and westward expansion of America, the buying and selling of real estate became an important sector of the economy. The American Dream of land ownership may have begun with the Pilgrims, but it wasn’t until regulated systems within government to record real estate ownership, (Title), were established that a Buyer’s investment was legally protected.

Companies issuing title insurance played an important role in standardization of mortgages, procedures, and forms. These policies would assure a Buyer that the Seller was the legal owner of the real estate being purchased. American Land Title Association (ALTA) was formed in 1907 and is still fully participative in the industry today. With the advent of Fannie Mae in 1938, mortgages became the most common instrument used for real estate purchase. To protect its investors, Fannie Mae required the Borrower to purchase Title Insurance that would cover the loan in the event the Borrower did not perform. This policy pledged that the Lender would be made owner of record and could legally sell the real estate and use the proceeds to settle the loan.

Regulation of title insurance is each state’s obligation, and we are experts in Utah’s directives and statutes. If you have questions about Utah’s real estate or title insurance, please feel free to call Inwest Title Services at 801-399-3544 or visit us on the web at

Purchase Price vs. Interest Rate, by Inwest Title a Utah Title Company

Saturday, September 25th, 2010

As you are aware, property values in Utah have dropped drastically in the past few years, offering an unbelievable discount for prospective buyers in the market today. This coupled with historically low interest rates, which could potentially save you thousands of dollars over the life of your loan, make it an amazing time to buy real estate!

To any “fence sitters” out there, waiting for home prices to drop even lower before entering the market, we wish you to consider the following two scenarios. Values could continue to decline, but interest rates could also rise! Now where is that crystal ball when we need it??

Scenario 1 (Current Market)
An amazing Real Estate agent finds the perfect home for Mrs. “Ima” Buyer. “Ima” offers to purchase the home for $250,000. Mrs. “Ima” Buyer also has an outstanding Mortgage Officer who was able to get her an unbelievable 30 year Fixed Mortgage Rate at 4.25%!!!

“Ima’s” P/I monthly payment = $1,230
Interest Paid for the life of the loan in scenario 1= $192,746

Scenario 2 (Future date)

Mr. “Ben Sittin on the Fence for a While Now…” has been looking at houses for months, running his poor buyer’s agent ragged. He has gone from home to home looking for just the right deal. After several months have passed (and a few buyers agents later) home prices had dropped another 10%! “Ben Sittin on the Fence” decides to get down off the fence and puts an offer on a home at $225,000 “Ben” is thrilled when his agent informs him that his offer was accepted. He had looked at this very home several months earlier, and it was listed for $250,000; thanks to his patience, he was getting the home 10% below original asking price. In the midst of all the excitement, he calls his mortgage officer and says, “We need to get moving on my loan. I have an excepted offer to purchase a property for $225,000, and I want to close right away!” To his surprise his mortgage officer informs him that interest rates have risen to 6.5% for a 30 Year Fixed mortgage. What does this mean for “Ben?”

“Bens” P/I monthly payment $1422.00
Interest Paid for the life of the loan in scenario 2 = $286,978

“Ben Sittin on the Fence “ now goes by “Shoulda Ben” buying real estate. He may have gotten a lower sales price than “Ima”, but he missed out on the historically low interest rates, which translates into his monthly mortgage payment being $192.00 more a month than “Ima’s”, and he will end up paying $94,232 more in interest over the life of his loan.

It’s time to hop off that fence, and prevent yourself from becoming another “Shoulda.” We work with some of the top Mortgage and Real Estate professionals in the industry and would be happy to get you moving in the right direction.

Is buying a foreclosed home a good investment?, by Inwest Title a Utah Title Company

Friday, August 27th, 2010

Here is a good article from Ted Jones, Chief economist as Stewart Title Guaranty Company, discussing the potential advantages of buying foreclosed properties.

See Article here.