One of the problems that are affecting the real estate markets lately is title defects. The defaults have been linked to the rising cases of wrongful foreclosures and also slowing down of the transition processes in what would otherwise be very easy real estate transactions. The availability of the property record is what determines the speed with which title conveyance will be done and also whether or not a buy back will be possible following a foreclosure. This is according to the Nationwide Title Clearing Executives. The NTC, is the leading provider of search services for records related to the mortgage and real estate industry.
When a default occurs, one of the commonest causes is a person claiming to own property that does not belong to them. This happens when:
• There are wording problems in the document and it ends up being non –compliant with real estate laws and regulations.
• When there are missing details such as a signature of a spouse that is necessary for the transaction to happen.
• Liens and encumbrances that could have been placed on the property before. The most marketable titles are those that do not have any previous encumbrances.
• Incorrect filling of documents related to real estate laws.
The NTC CEO states that for the best experience with real estate, it is best to address any issues connected with the title before the property is sold or transferred. John Hillman, the CEO has been for the longest time trying to assist the changing mortgage industry. Among the new services that the NTC has rolled out include:
• Services of assignment verification reports
• Reports on tax status
• Report on the current owner
All these are records that are available online on the company’s website. The company has decided to take most of their services online because this is the best way to reach all their clientele from different parts of the country. It is also less tedious than manually visiting the offices to order a check on the files, which means that more clients will be encouraged to make the check.
The data that is provided to the clients is normally obtained from other reliable sources both online and otherwise. The data is then verified for authenticity before being presented to the customers. The company does their best to look at the end result that the clients want and streamline their service to meet the demands of the client.
About Nationwide Tide Clearing Inc
The company is located in Palm Harbor, Florida and is a bond and mortgage company. It was established about 24 years ago and has a staff of about 250. The company has grown from a small agency to an asset base of close to 500 million US dollars. It is one of the best real estate firms in Florida.