BuyersEstimate (1)
NewHomeowners

Got Buyers? First Time Homeowners Guidebook

[ New ] Homeowners Guidebook

The Perfect Tool For New Homeowners

Are you looking for something that can educate your new homeowners regarding their grant deed, tax information, and important things they should look out for? Than our First Time Homeowners Guidebook is the perfect tool.

Our Booklet Features:

    • Title & Ownership Info
      • Understanding their grant deed.

       

    • Taxes & Value Assessment Information.
      • Supplemental Taxes
      • Property Taxes
      • Homeowners Exemption

 

    • What to Watch-Out-For
      • Homestead Solicitations
      • Grant Deed Solicitations
  • Our Role
    • How Title protects your client.

Contact us for a copy today.

5d2a17a6-f777-4224-bf74-76db88acfc23

New Tool Alert: Carrier Route Analyzer

Carrier Route Analyzer

TARGET SMARTER

Are you looking for a more in-depth look at you current farm area? If so, our new Carrier Route Analyzer is the perfect tool to help. Our report analyzes all the different mail carrier routes in any city and gives you all the important information you need to know.

Report Features:

  • Mail Routes – We organize all of the mail routes within a given city. Got multiple zip codes? No problem.

 

  • Turn Over Ratio – The turn over ratio is calculated for each mail carrier route and sorted from highest to lowest.

 

  • #of Sales & Properties – We give you the total number of sales within the last 12 months along with the total number of properties per route.

 

  • Absentee % – We calculate the percentage of absentee owners within each tract.

 

  • Volume of Sales – We add up all of the total sales figures and give you an avg. sales price.

 

  • Avg. Years Owned. – Targeting empty nesters? Our report gives you the average years a home is owned within each route.

Contact Us To Order Your Report Today.

handpuzzle

Lost Note & Missing Beneficiary

Man any of you probably know that you can do “the bond thing” if the preliminary report discloses an old deed of trust, and the seller tells you, “I paid this off many moons ago, but I do not have any of the original documents and the beneficiary cannot be reached. He was last seen ascending the Himalayas with the Dalai Lama long ago. I’m sure he’s drifted into the great void by now.” But do you really know about the ramifications of “the bond thing”?

In situations where both the beneficiary and the original note are missing, “the bond thing” is a multi-step process wherein obtaining the bond is just the first step. (See California Civil Code Section 2941.7)

To obtain a bond an insurance agent must be contacted, who in turn will work with a surety company that issues Lost Note Bonds. The insurance agent will request that the applicant/seller provide copies of the note (if available) and copies of documentation that evidences payment of the note, such as cancelled checks, payment books, etc. Additionally, the applicant/seller will be asked to sign an indemnity agreement in favor of the surety company issuing the bond. Occasionally, (typically when the bond is for a substantial amount of money), the insurance agent will request a financial statement from the applicant. Standard practices charged by bonding companies would be a premium paid for the bond ranging from 1.5 to 2%, double the original principal obligation of the deed of trust (the original principal will be increased to include any additional advance amounts disclosed by the official records).

 

The minimum requirements for all bonds are:

1. The bond shall be the greater of either (A) two times the amount of the original obligation secured by the mortgage and deed of trust and any additional principal amounts, including advances, shown in any recorded amendment thereto, or (B) one-half of the total amount computed pursuant to (A) and any accrued interest on such amount, and shall be conditioned for payment of any sum which the mortgagee or beneficiary may recover in an action on the obligation secured by the mortgage or deed of trust, with costs or of litigation and reasonable attorney’s fees.

2. The obligee named in the bond can be:
a) The mortgagee or mortgagee’s successor in interest
b)The trustee who executes a reconveyance and the beneficiary or beneficiary’s successor in interest
Once the bond is in hand, is the deal all set to go? Can a reconveyance be obtained from the trustee? Unfortunately, the battle has just begun. Section 2941.7 sets forth that the bond and a declaration must be of record for at least 30 days before the trustee may issue the reconveyance. It is important to note that “prior” to the recording of the declaration, the code section requires that a notice of recording of declaration and bond be mailed by certified mail, return receipt requested to the last known address of the person to whom payments under the mortgage or deed of trust were made and to the last mortgagee or beneficiary of record at the address for such obligation shown on the instrument.

Lastly, it is recommended that the title officer, together with the owners, initiate personal contact with the trustee, who will be the person tasked with the job of reviewing the bond and declaration and who will ultimately be the one issuing the desired reconveyance. If the title officer and owners establish early contact with the trustee, the trustee will be in a position to review early drafts of the bond and declaration and thus provide the owner with helpful input. Such input will enhance the likelihood that the bond and declaration that was initially forwarded to them will be acceptable. Just as important, if the title officer has developed a rapport with the trustee, it is very likely that the trustee will deliver the reconveyance back to the owners in a very timely manner. Working together to solve title issues is how Pacific Coast Title Officers rise above the competition.

Uninsured Deeds: What you should know

Have an Uninsured Deed?

Here is what you should know.

Most common problems from Uninsured Deed’s come from Quitclaim deeds between family members, especially
husband and wife. When a person is added to title, it is a window of opportunity for matters against him/her to attach
to the property.

You should be concerned when taking a listing…

• Is it a divorce situation?
• Was it signed in distress?
• Possible bankruptcy?
• Possibly a Forgery Deed

How can you spot an uninsured deed when you order a profile from Pacific Coast Title? Here are some red flags for your reference.

uninsureddeeds

 

New Tool: Expanded Property Report

EP

 

A new listing/listing appointment is an exciting time in the selling process of a home. Unforeseen circumstances pertaining to the property or current ownership can quickly turn that excitement into uncertainty. Our Concierge Preliminary Property Report helps  make you aware of potential obstacles that might prevent the sale of a property.

What kind of obstacles does our report look for?

  • Basic Legal / Vesting Information
  • Affidavit of Death Records
  • Possible Appraisal Restrictions
  • Tax Default and Mortgage Default
  • Possible Lending Restrictions
  • HOA Liens / Approved HUD Condos
  • Involuntary Liens (Child Support, Federal/State Tax Liens & Etc)

Want to know more? Contact your local rep to order your expanded property report.

Title Tech: Become a Neighborhood Expert

NeighborhoodExpert

Our Pacific Coast Instant profile app helps you quickly become a neighborhood expert in regards to recent sales and transfers. Many of our clients love that they can access current sales data, ownership information, and property documents all from their mobile device. See below for some great information regarding recent sales.

MORE THAN A PROFILE…

Did you know, That our Pacific Coast Instant Profile app comes with a few features that help you stay on top of all the recent sold properties in your farm area. Along with property profiles many of our clients use our app to pull of the following:

  • Recent Sales Comparables
  • Area Sales Analysis
  • Nearby Neighbors.

All which have proven helpful for both obtaining property information as
well as streamlining their farming efforts.

Want to get setup? Contact Us Today!

Title Thursday: What is Mello Roos Tax?

WhatisMelloRoose

 

WHAT IS A MELLO-ROOS FEE?
A Mello-Roos fee is a separate charge on a property tax bill in addition to the 1% property tax rate allowed by Proposition 13. The funds are used exclusively to pay for public facilities such as police and fire departments, schools, parks, roads and libraries, etc.

HOW ARE MELLO-ROOS ASSESSMENT FEES ESTABLISHED?
Mello-Roos fees are normally established at the request of a major developer to finance the
necessary public facilities to serve the new development. The public agency issues tax-exempt bonds
to pay fo over a number of years. Commercial and industrial property owners are also subject to Mello-Roos.

WHO AUTHORIZED THE ESTABLISHMENT OF MELLO-ROOS DISTRICTS?
The Mello-Roos Community Facilities Act of 1982 was co-authored by Senator Henry Mello and Assemblyman Mike Roos and authorized by State law to allow any public agency to implement fees and issue the necessary tax exempt bonds.

HOW CAN I DETERMINE IF MY PROPERTY IS IN A MELLO-ROOS DISTRICT?
Your property tax bill will identify Mello-Roos fees as a Community Facilities District (CFD), followed by a number and the amount of tax.

HOW MUCH IS A TYPICAL MELLO-ROOS ASSESSMENT FEE?
Typically, a formula that relates to the size of the home (lot size or square footage) is used to determine the amount of an individual assessment. The amount of taxes is established before the home is built and is not based on the current value of the property.

HOW DO I PAY THESE TAXES?
Your Mello-Roos tax will typically be collected with your general property tax bill.

WHAT HAPPENS IF A TAX PAYMENT IS LATE?
Because the Mello-Roos tax is usually collected with your general property tax bill, the Facilities District that obtained the lien may withdraw the assessment from the tax roll and begin foreclosure proceedings. Mello-Roos taxes are subject to the same penalties that apply to regular property taxes.

HOW LONG WILL THESE MELLOS-ROOS FEES LAST?
Typically, the bonds are paid off in 20 years, but State law allows up to 40 years. Those who purchase a new home have the option to pay for their Mello-Roos tax in its entirety at the time of purchase.

WILL MY MELLO-ROOS FEE INCREASE?
It can, however, this special tax can increase only at a maximum rate of 2% per year over a 25 year period. On the other hand, it’s also possible that this tax will decrease, should State or other funds become available that could be used to reduce existing bond indebtedness, or be used to construct new facilities in lieu of additional bond sales.

WHO CAN I CONTACT REGARDING MELLO-ROOS FEES?
Contact your local County Assessor’s Office. They have the phone numbers and names of persons to call for each Mello-Roos District.

 

Tech Tuesday: Transfer Activity Report

 TransferActivityReportHandsSmaller

Attention Loan Officers

Looking for more insight within your farm area? Our Transfer Activity Report is the answer.

Our Transfer Activity Report compiles key property information that can help you gain insight about all new property transfers in your farm area. Below are a few snippets of the information included in our report.

  • Total Transfers
  • Finance Vs Cash Ratio
  • Avg. Ownership
  • Top Lenders
  • Relevant Transfers

 

Looking to get more information about this? Contact us today. (866) 724-1050