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[+] FANNIE MAE and FREDDIE MAC VIOLATING RESPA - Robert Franco/OH (3 replies)
9/15/2009 10:18:09 AM (4671 views)

[+] Condo Owner finds out he's been living in and renovating wrong unit - Edward Huguenin/SC (3 replies)
9/13/2009 11:12:30 PM (5463 views)

[+] E & O Info: Thanks Robert! - Scott Olsen/NH (3 replies)
9/11/2009 10:47:44 AM (4073 views)

[+] County Clerk Fees - Ellen Maher/MI (14 replies)
9/11/2009 9:51:20 AM (3935 views)

[+] Unied States Title Corp Knoxville TN - Louise Jackson/SC (6 replies)
9/10/2009 9:12:43 AM (4992 views)




[+] MSNi - Constance Foye/VA (3 replies)
9/9/2009 9:04:37 PM (4835 views)

[+] Pro-Search, Inc. - Susan McKee/WV (1 reply)
9/9/2009 10:51:23 AM (4584 views)

[+] ALTA Policy Licensing Fees - Cheryl Hartzman/PA (5 replies)
9/4/2009 2:41:01 PM (5768 views)

J&L in TX - LAWANDA  MCMILLIAN/AR
9/3/2009 9:34:26 PM (3244 views)

[+] Accepting Credit Cards - Dan Zook/NY (5 replies)
9/3/2009 1:07:29 PM (3864 views)

[+] Experience closing short sales w/transactional funding? - Eric Michaels/IL (21 replies)
9/3/2009 1:03:46 AM (4066 views)

[-] selling searches - edward hartung/OH (8 replies)
8/31/2009 11:04:12 PM (4293 views)
Re: selling searches - Robert Franco/OH
9/1/2009 9:46:54 AM (5690 views)
Re: selling searches - edward hartung/OH
9/2/2009 12:33:07 AM (5679 views)
Re: selling searches - Robert Franco/OH
9/2/2009 8:59:13 AM (5546 views)
Re: selling searches - edward hartung/OH
9/2/2009 10:33:31 PM (5410 views)
Re: selling searches - Robert Franco/OH
9/3/2009 8:49:06 AM (5607 views)
Re: selling searches - edward hartung/OH
9/22/2009 11:52:12 PM (5097 views)
Re: selling searches - Robert Franco/OH
9/23/2009 8:46:40 AM (5118 views)

When I sell a search, I have my abstractor's hat on.  I just report what we find and we make notes about any particular title problems we have discovered.  For instance, we will point out missing marital statuses on documents, releases of mortgages from the wrong bank when an assignment is missing, improper acknowledgments, incorrect legal descriptions, etc.  However, we do not tell them how to fix the problem.  Our job is to make sure we accurately report the status of the title and we try to do that in a way that will make it clear to the client.  But, offering advice, in my opinion, is not the abstractor's job.  First, it could be considered the unauthorized practice of law if you give a legal opinion on what it would take to fix a problem.  Second, each agency and each underwriter have their own ways dealing with problems.  Some do a much more thorough job and they will follow up and get quit claim deeds, affidavits, or other recordable documents; some will try to get an indemnity from the last title company that insured the property; and, others will simply decide to insure over the defect. 

In my opinion it is usually best to let them decide for themselves how to correct the problems we discover on a search.  If they call and ask for my opinion, I will talk to them about it and explain why we indicated it as a defect.  But, usually, I will tell them if they aren't sure what needs to be done, they should check with their underwriter and see how they feel about it.  After all, they are the ones on the hook for the potential claim and its best to follow their advice.  Mine doesn't really mean much to them.

Best,
Robert A. Franco
SOURCE OF TITLE

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Re: selling searches - shori ferrell/MO
9/28/2009 11:30:22 AM (5019 views)

new client, trust title - WAYNE QUICK/NC
8/31/2009 6:54:42 PM (3804 views)

[+] Cleary Title - Robin Ramberg/MI (1 reply)
8/30/2009 8:32:56 PM (5076 views)

[+] Abstractor Fees - Tena Grice/TX (4 replies)
8/28/2009 11:40:47 PM (7231 views)


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