Hi Realtors! In this episode, Sherri breaks down what lenders need from the title company and why it’s crucial for smooth transactions. From title commitments to unpaid taxes, understanding these essentials will make you a pro in guiding your clients and keeping deals on track.

Key Highlights:

• Why Lenders Need Title Info:

  • Verify property details are accurate.
  • Ensure the title is free of debts or legal issues.
  • Confirm title insurance is in place for protection.

• Key Documents Lenders Request:

  • Title Commitment: Outlines issues to resolve before closing.
  • Legal Description: Details exact property boundaries.
  • Taxes & Liens: Identifies unpaid bills that need clearing.

• Why This Matters to Clients:

  • Buyers are protected from surprise debts or ownership issues.
  • Sellers avoid delays by addressing title problems early.

• Realtor Tips for Smooth Deals:

  • Review title reports early; ask questions if unsure.
  • Set expectations with clients about possible title issues.
  • Help sellers gather important documents to prevent delays.

Title work isn’t just paperwork—it’s the foundation of a smooth, safe transaction. By understanding what lenders need and how title companies help, you’ll be better equipped to guide your clients with confidence.

If you found this episode helpful, share it with your realtor friends and subscribe to Behind the Deal: Escrow Unlocked for more insights. Got questions or a topic suggestion? Reach out to Sherri—she’s here to help you unlock the secrets of real estate!

In this episode of Behind the Deal: Escrow Unlocked, Sherry Sellers, a seasoned Escrow Officer with nearly 40 years of experience in the title industry, breaks down the importance of the Preliminary Title Report (also known as the Title Commitment). Whether you’re a seasoned Realtor or new to the industry, Sherry provides invaluable insights into what this document is, why it matters, and how it protects your clients’ investments.

From understanding property ownership to identifying liens and easements, Sherry simplifies the complexities of the Preliminary Title Report, empowering you with the knowledge to guide your clients with confidence.

What is the Preliminary Title Report (PR)?

• A detailed preview of the property’s title history and current status.
• Serves as a roadmap to identify potential issues before closing.

Key Sections of the PR:

• Legal Description: Defines property boundaries and ensures accuracy.
• Liens and Encumbrances: Identifies debts, claims, and unpaid taxes tied to the property.
• Easements: Highlights rights-of-use by others, such as utility companies or shared driveways.

Why the PR is Essential:

• Protects buyers from unexpected debts, ownership disputes, or property restrictions.
• Ensures transparency for informed decision-making before closing.

How to Help Your Clients:

• Tips for reviewing the PR carefully.
• Common buyer questions and how to address them.
• The importance of early communication to resolve potential issues and keep the closing process on track.

The Preliminary Title Report is more than just a document—it’s a critical tool for protecting investments. Sherry encourages Realtors to help their clients review it carefully, ask questions about any unclear items, and work closely with the escrow officer and title company to resolve red flags early.

Resources Mentioned:

• Phone: 801-266-0606
• Website: Sherry Sellers - Title One

Tune in to learn from Sherry’s expertise and gain the tools you need to ensure a smooth and informed closing for your clients!

The Preliminary Title Report is more than just a document—it’s a critical tool for protecting investments. Sherry encourages Realtors to help their clients review it carefully, ask questions about any unclear items, and work closely with the escrow officer and title company to resolve red flags early.

Resources Mentioned:

Phone: 801-266-0606

Website: Sherry Sellers - Title One