What's a title company? and why you need them! | RiseUtah.com скачать в хорошем качестве

What's a title company? and why you need them! | RiseUtah.com

All real estate transactions in the state of Utah are supposed to use a title company. Title companies are vitally important at tracking the history of owner for real property and insuring that new buyers get "free and clear" title. In this interview, you will learn answers to common questions buyer and sellers have concerning the Title Company as they complete a real estate transaction. Find Out what Your Utah Home is Worth http://bit.ly/2wAp8am Search For Utah Homes for Sale http://bit.ly/2I4uFuQ RISE Utah Realty 1177 800 E, Orem Utah, 84604 (801) 921-6771 www.RiseUtah.com Video Transcription: Hi everybody, it's David Pestana Broker, owner of Rise Realty. It's good to be here at access title with my friend Dan Hall. Thank you for, for being here with us. Thank you. Happy to have you. All right. So the reason we're here is to answer some of the common questions we get about title. Okay. So I brought the expert in. How many years experience do you have? A 14 and a half 14 and a half. Yeah, so I started on the, on the title side of things 14 and a half years ago. In title in here in Utah you have the escrow side and the title side. And in Utah we do both sides at the same title company other states, you know, do it differently sometimes you have, like in California for example, you have a title company and an escrow company, but here in Utah it's all combined into one. And so, uh, there's two different licenses that are that a person has to have. The inside of title is an escrow side license and a title license. I happen to have both because I started on the title side and then moved over to the escrow side about four years after starting the title side. Okay, so about 14 and a half years of experience. We want to ask you a few questions. I think most people have. One is like what is title or what does the title company to for the client? That's a very good question. So title company, what we will do is we take the real estate purchase contract that you prove that you fill out what the clients and you provide to us will take all that information put into our computer systems and then what we first initially start with is we're going to prepare what's called a preliminary title report. The preliminary title report is basically the easiest way to explain that is is like a genealogy report on the property itself and a little bit about the people, not totally about the people, but if there's any liens or judgments against any individual that has owned the property in the past 40 years, we're going to research that information out and put that in the preliminary title report so that when you come to purchase a property or you're selling a property, you're going to know exactly what's laid out on this property, what kind of judgments or leans or boundary issues may exist with the property. So this Kinda goes into that second question that Kinda correlates with that, which is what is. What is the title? Insurance title? Insurance title insurance is going to ensure it's a one time charge. Instead of like a car insurance where you pay it every single year or your homeowner's insurance...