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First American Title - Your Business Resource


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What does Title & Escrow Services do for me?

Published in: Real Estate, Technology
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First American Title - Your Business Resource

  1. 1. First American Title Your Business Resource
  2. 2. <ul><li>Beginning in 1889 as Orange County Title in LA we are now a diversified, international business information products and services provider. Recognized as a Fortune 500 company with over 35,000 employees world wide. </li></ul>First American Title
  3. 3. First American Title in Oregon <ul><li>We are the number one title insurer in the state of Oregon with offices or exclusive agents in 35 of the 36 counties. </li></ul>
  4. 4. <ul><li>Title is the right of the owner to possess and use the property. </li></ul><ul><li>Title insurance is an actual insurance policy that protects you against claims that might threaten your ownership of the property. </li></ul>What is Title and Title insurance?
  5. 5. <ul><li>Title insurance not only protects you in the event of a claim, but it actually minimizes your risks up front. </li></ul><ul><li>Title insurance is an exceptional value. Unlike other types of insurance, it is paid only once at the time of purchase or settlement. And is generally only about 1% or less of the cost of the property. </li></ul>How is title insurance different?
  6. 6. <ul><li>Ultimately, the choice is yours but your lender, real estate agent, real estate attorney or other real estate professional are excellent sources for referrals. Make sure you look for a company with expertise, financial strength and a dedication to quality customer service, a company like First American Title. </li></ul>How do I select a title company?
  7. 7. <ul><li>Underwriter: </li></ul><ul><li>An insurance company, which issues insurance policies either to the public or to or through another insurer. </li></ul><ul><li>Underwritten company: </li></ul><ul><li>A title firm which conducts title searches, but is not qualified to insure, and therefore issues policies of a qualified title insurer (underwriter) in return for a portion of the premium. </li></ul>Benefits of Working with an Underwriter
  8. 8. <ul><li>Escrow is an arrangement in which a neutral, disinterested third party, or escrow holder, holds legal documents and funds on behalf of everyone involved in the transaction and completes the transaction in strict accordance with their written instructions. Using a qualified escrow officer reduces risk and delay. </li></ul>What is an escrow and why do I need it?
  9. 9. <ul><li>A financially responsible custodian to safeguard funds and documents </li></ul><ul><li>A clearing house for the payment of all liens and other encumbrances </li></ul><ul><li>A highly trained escrow officer to perform all details in pro-rating and adjusting accounts between the parties </li></ul><ul><li>An impartial third party to assume responsibility for the many tasks involved in closing </li></ul><ul><li>The strictest confidentiality </li></ul>The Main Benefits of Using an Escrow
  10. 10. <ul><li>Property Profiles </li></ul><ul><li>Comparables </li></ul><ul><li>Tax Maps </li></ul><ul><li>Street Maps </li></ul><ul><li>Mailing addresses </li></ul><ul><li>Deeds </li></ul><ul><li>Owners in or out of state </li></ul><ul><li>And much more . . . </li></ul>Your Source for Real Property Information
  11. 11. <ul><li>Delivery options – email, delivery, etc. </li></ul><ul><li>Industry leader in industry technology </li></ul><ul><li>Online Property Information </li></ul><ul><li>Credco – Real Time Credit Reports </li></ul><ul><li>Flood Data – Real Time Flood Certificates </li></ul><ul><li>Nationwide online Appraisal Products </li></ul><ul><li>Title & Escrow – Available Worldwide </li></ul><ul><li>Customer Service Products </li></ul><ul><li>Aerials and more for Commercial, Industrial & Subdivisions </li></ul><ul><li>And much more . . . </li></ul>Services for our Partners in the Real Estate Industry
  12. 12. Thank you Connie Kennedy Business Development Specialist Marion, Polk, Linn & Benton Counties