Title defects are an emerging problem that has been affecting the real estate business for a while now. The defaults are leading to complications such as unjustified foreclosures and breakdown of the process of transition, making otherwise simple processes in real estate very complicated. When the property records are available, there will be a speedy conveyance of title deeds. This could determine whether a property will be bought back or not after a foreclosure.
These are the statistics that have been given by the National Title Clearing executives. The NTC provides services that are related to the entire mortgage and real estate industry. They state that in those cases where a default has taken place, people who aren’t the true owners of a property come claiming it is theirs. This is common when:
- The wording of the document is so wrong that it fails to comply with the regulations of the real estate industry.
- Details such as signatures from spouses go missing from the document and the transaction cannot occur.
- When the property has liens and encumbrances, which makes the titles less popular.
- When the documents concerning real estate laws are not filled correctly.
The CEO to the NTC claims that for ones real estate experience to be positive, they have to be willing to look into all the issues connected with the title deed before the purchase. He has been on the forefront to try and help revolutionize the business. He has recently rolled out some new services for their website. These include assignment of verification reports, issuing of reports on tax returns, and reports giving information of the current property owner.
The information that is given regarding the clients is sourced from online and other places. It is checked carefully for authenticity and then presented to the prospective customer. The company studies the client and tries to think about the results that could be pleasant to them as this makes their experience with the site more positive and makes their property search easier.
Nationwide Tide Clearing Inc
The company, which is headed by John Hillman, has its headquarters in Palm Harbor, Florida. It is a private bond and mortgage company that has been in business for more than 2 decades. The company, which was initially a tiny agency has grown to a business entity that is worth half a billion dollars. It employs more than 250 people and offers the best solutions to real estate issues in Florida and other states.
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