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Public
Speaking For Realtors
For
Builders For Lenders
Commercial Services
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Carole Bullion, a state and national personality,
often speaks on subjects related to title insurance and real
estate which are at the forefront of professional concerns.
Her latest subject, 'Recognizing and Stopping Mortgage
Fraud', has been in high demand and very well
received. In fact, she will be speaking at the Old Republic
Title Agency Convention in Columbus, a series watched closely and
attended by several members of the Ohio Supreme Court.
She recently spoke at the American Land Title
Association (ALTA) national convention, held in San Francisco, CA,
about Mortgage Fraud and the devastating effects it has on
the title insurance, real estate and
mortgage industries. Part of her duties while
attending the convention was to continue her work on ALTA's
Education Committee, designing and implementing educational
programs for the many thousands of ALTA members.
In her home state, Carole Bullion presented her
Mortgage Fraud program directly to the hundreds of licensed
REALTORS at the Michigan REALTOR Association (MAR) convention and
has been invited back for 2008.
Title Commitment – A preliminary examination of the
public records is done showing all current information with regard
to the property: current owner, title vesting, legal description,
tax information, open mortgages, liens, judgments, easements,
restrictions, etc. The Title Commitment will show exceptions to
title insurance coverage and will have a list of requirements that
must be met before a title insurance policy can be issued.
Owner’s Title Insurance Policy – Once all requirements
of the title commitment have been met, an Owner’s Title Insurance
Policy will be issued that insures the buyer’s investment or
equity in the property up to the face amount of the policy.
Insured Escrow Closing – We will meet with the buyers
(or borrowers) and sellers, explain all documents including any
loan documents, notarize their signatures, record the documents,
disburse funds, payoff any liens on the property, and satisfy all
requirements of the title commitment and those of the lender.
1031 Exchanges - A tax deferred exchange is simply
a method by which a property owner trades one property for another
without having to pay any federal income taxes on the transaction.
In an ordinary sale transaction, the property owner is taxed on
any gain realized by the sale of the property. But in an exchange,
the tax on the transaction is deferred until some time in the
future, usually when the newly acquired property is sold.
Continuing Education - In addition
to Title Insurance and Escrow Closing of real estate
transactions, Carole is a state licensed Continuing Education
instructor, booking between 20-30 classes per year. Click Here to
book your next class.
Legislative Updates - Change
updates to insure real estate brokers and agents are staying in
compliance with Michigan real estate law.
Legal Services - If requested, we will help you
find a local law firm to prepare any needed documents such
as: Deeds, Sales Contracts, Contract-for-Deeds, Notes &
Mortgages, Leases, Easements, or Affidavits.
Classic Title is
dedicated to providing the local builder industry with accurate,
timely and professional service. Our concept enables us to assist
in all aspects of the homebuilding process, from land acquisitions
through closings. We will exceed your expectations by taking a
real interest in your success.
Classic Title has been the
leader in providing value-added services to the new home industry
since 2003. Through our extensive experience, we've developed
unique services and programs that benefit our clients and their
customers.
Land Acquisition
Assistance
Our team will assist you with the research,
acquisition and entitlement of your property. We will supply title
reports, copies of easements and adjoining deeds, and will work
closely with your engineer and other service providers to ensure
that information is technically correct for approval and
recording. Potential problems, such as relocating easements, are
identified and addressed immediately to minimize future problems
or delays.
Property Research
We are problem
solvers and know where to find the correct answers for you and can
provide the specific, project-oriented information you need. We
will assist you promptly with:
Ownership
information
Parcel information
Assessor's tax
information
Copies of various maps
Zoning
information
Copies of recorded documents
Mailing
address
Professional Escrow Staff
Closing an
escrow is probably the most important service we perform; it's the
culmination of months of hard work and time-consuming effort for
you, the homebuilder. To provide the best services, Classic Title
will customize escrow-closing programs for your specific company
requirements. Our homebuilder specialists coordinate smoother
closings for your customers and more efficient day-to-day
operations for you.
Title Search
Only - We examine the public records and provide you with
a list of documents recorded on the subject property and include
copies of each.
Letter
Report - We search the public records (two deeds back
from previous owner) and provide you with a written report which
shows the current owner, title vesting, legal description, tax
information, and list of all open mortgages, liens, judgments,
easements, restrictions, etc. on the subject property. No
insurance is provided with the Letter Report.
Title
Commitment – A preliminary examination of the public
records is done showing all current information with regard to the
property: current owner, title vesting, legal description, tax
information, open mortgages, liens, judgments, easements,
restrictions, etc. The Title Commitment will show exceptions to
title insurance coverage and will have a list of requirements that
must be met before a title insurance policy can be issued.
Lender’s Title
Insurance Policy – Once all requirements of the title
commitment have been met, a title insurance policy will be issued
that insures the lender’s interest in the property as security for
the outstanding balance under the borrower’s mortgage.
Insured Escrow
Closing – We will meet with the borrowers, explain all
documents to them including the loan documents, notarize their
signatures, record the documents, disburse funds, payoff any liens
on the property, and satisfy all requirements of the title
commitment and those of the lender.
Witness Only Closing –
We will meet with the borrowers, explain the documents to them,
notarize their signatures and return the documents to the lender
for disbursement and recording.
At Classic Title, we provide three
services vital to the purchase or financing of a commercial
property. These are Due Dilligence,
Settlement Services and Title
Insurance.
Although the Due
Diligence component is less important to the average
purchaser of a residential property, for commercial properties,
particularly where new construction or potential redevelopment is
concerned, due diligence is a critical aspect of an investment
transaction. In brief, when you purchase or invest in a commercial
property, you want to make absolutely certain that you are getting
clear title, that all necessary persons have joined in, than there
are no liens or encumbrances that you are not aware of, and that
you know exactly what utility and other easements exist on the
property to serve your building or to be avoided during
construction.
With regard to Settlement
Services, a commercial transaction typically involves
larger dollar amounts, more lawyers (for the purchaser, for the
seller, and for the lender, at a minimum), and more complex title,
conveyancing, and zoning or land use issues. The smooth and
knowledgeable coordination of these numerous tasks and issues is a
vital part of what you pay for in choosing and retaining a
settlement company. The purchaser or investor wants to work with
someone who responds promptly and knowledgeably to all questions
and issues, and who provides solutions, not obstacles.
Title Insurance
protects a property owner against defects or encumbrances in the
chain of title to your property that are not disclosed by the
public records. You, and your lender, receive assurance through an
insurance policy that you own your property subject only to
easements and other matters disclosed in the land records and set
forth in your policy. Your lender receives the assurance that the
deed of trust securing your lender's loan to you is a valid first
deed of trust on the property, not subject to other liens,
judgments or encumbrances, including unpaid real estate taxes,
unpaid judgments of prior owners, federal or state tax liens
against prior owners, and the like. In addition, with properly
underwritten and structured coverage against mechanics' liens, a
lender making a loan for new construction or renovation will know
that future advances made by the lender during the course of
construction will retain the first lien priority status required
by the lender.
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