Thursday, September 21, 2017

STA University is OPEN! Please check our events page on Facebook often for a list of classes. RSVP to any of our classes on Facebook or by sending a email to ldesena@statitle.com. Below are a few we have coming up!

Monday, September 18, 2017

Free ways to market your business

STA University is OPEN! Please check our events page on Facebook often for a list of classes. RSVP to any of our classes on Facebook or by sending a email to ldesena@statitle.com. Below are a few we have coming up!

All About Google

 STA University is OPEN! Please check our events page on Facebook often for a list of classes. RSVP to any of our classes on Facebook or by sending a email to ldesena@statitle.com. Below are a few we have coming up!


Exciting things are happening at STA Title & Escrow! To serve you better with even more space, we have moved to our new building at 1300 Princess Anne Street in downtown Fredericksburg. Our telephone, fax numbers and emails remain the same, and we look forward to serving you and your clients in our new location. Our new location is bigger; and better the building has been remodeled to meet the professional accommodations our current and future clients have grown to know from STA Title & Escrow. You will enjoy our double parking lot, two settlement rooms with 14ft ceilings, and a full classroom. Loyalty from customers like you have fueled continued growth, making the move to a new facility necessary.

It has been an amazing 31 years in business for STA Title & Escrow, and we look at this new location as the start of another chapter in our history.  

We'll be hosting a ribbon cutting soon for local clients, but until then if you're in the area, Please feel free to stop in and say hi!  

Tuesday, July 25, 2017


 

 
As opportunities for real estate transactions expand across county and state lines,
the frequency of mail-away closings is increasing. If you are involved in a closing that
requires the mailing of documents, here are some tips that can help you avoid delays: 
 
  • Inform your closing agent of the need to mail documents as soon as possible. This will allow them to better coordinate the document preparation and signing process with the lender.
  • Be aware that many lenders have specific c closing practices that may differ from local customs. Not all lenders allow documents to be signed in advance of the closing date, and some require  that the documents be signed in the presence of an attorney or title officer at a local title company office.
  • Provide your closing agent with a physical address and the best phone number for each party involved in the transaction. Most overnight delivery services will not deliver to a P.O. Box. 
  • Allow sufficient turnaround time for the documents to be signed. This may decrease the chances of funding delays due to errors in the signing process. In order to disburse funds on a transaction, your closing agent may require the original documents to be returned and in their possession. Typically, the minimum time required to send and receive documents is three business days.

Friday, July 14, 2017

IF ONLY THEY HAD KNOWN Protecting Your

Home with an Owner’s Policy

There are two types of title insurance: owner’s title
insurance, called an Owner’s Policy; and lender’s title
insurance, called a Loan Policy. Most lenders require a
Loan Policy when they issue you a loan, and the fee is
usually based on the dollar amount of your loan. It only
protects the lender’s interests in the property. It does not
protect the buyer.
A recent news article tells of a homebuyer who purchased
a home on a land contract and made monthly payments
of $1500 to the seller until they were able to secure a loan
from a national lender. At the time, the lender required the
buyer to purchase a Loan Policy. Because it is not required
by law to purchase an Owner’s Policy, the homebuyer
closed on the home with only the lender’s interest being
protected by the Loan Policy.
Several years later, the owners of the home were notified
that their house was being foreclosed on and the sale date
was fast approaching. How could this have happened? As
it turns out, there was a prior loan on the home that was
never paid off by the previous owner. Because the current
lender had required a Loan Policy, their interest in the
property was covered. Had the current owners invested
in an Owner’s Policy, they too would have been covered.
Unfortunately, without title insurance, they lost their home.
Additionally, the resulting foreclosure may adversely affect
their credit standing for years to come.
The homebuyers in the story above stated,
“We didn’t buy title insurance. We were
first-time homebuyers. Had we known about
title insurance, [we] definitely would have
gotten it.”
Many homeowners mistakenly think that because a title
search has been done on the property their interest is
protected.
One thing is certain…If more homebuyers were aware
of the protection a First American Title Owner’s Policy
provides, they would purchase one, and eliminate the
unnecessary risk of losing their home.

Wednesday, July 5, 2017


Borrowers Don’t Shop Around, Still Look to Big Banks

Most mortgage borrowers don’t shop around for a lender, according to    a survey conducted by FREEandCLEAR.

By: Aly J. Yale, MReport, June 20, 2017
Read more: http://www.themreport.com/daily-dose/06-20-2017/borrowers-dont- shop-around-still-look-big-banks
 

Why Can’t They Build More Homes Where the Jobs Are?

In a logical world, builders would rush to put up homes in the U.S. regions adding jobs at the fastest pace. In reality, it’s not so simple.

By: Patrick Clark, Bloomberg, June 23, 2017
Read more: https://www.bloomberg.com/news/articles/2017-06-23/why-can-t- they-build-more-homes-where-the-jobs-are
 

Share This Consumer Alert: Beware of Wire Fraud Schemes When Buying a Home

The American Land Title Association wants to make sure your home 

purchase doesn’t get derailed by a dangerous threat that could keep you from getting the keys, painting walls and decorating.

By: American Land Title Association, June 22, 2017
Read more: https://www.alta.org/news/news.cfm?20170622-Share-This- Consumer-Alert-Beware-of-Wire-Fraud-Schemes-When-Buying-a-Home
 

Pending Home Sales Tumble As Supply Crisis Worsens

Fewer buyers signed contracts to buy existing homes in May, likely because they can’t find or afford what they want.

By: Diana Olick, CNBC Realty Check, June 28, 2017
Read more: http://www.cnbc.com/2017/06/28/pending-home-sales-tumble-as- supply-crisis-hits-sales.html
 

Why Ransomware Attacks Keep Happening

A new global ransomware attack has targeted businesses around the world, demonstrating how easy it is for hackers to extort money by taking advantage of outdated technology.

By: Selena Larson, CNN Tech, June 27, 2017

 

How Long Does It Take to Get a Mortgage? Longer Than You Might Think

In the age of same-day delivery and smartphones, we’re used to rapid wish

 

fulfillment.

By: Julie Ryan Evans, REALTOR®.COM, June 12, 2017
Read more: http://www.realtor.com/advice/finance/how-long-does-it-take-to-get- a-mortgage/?iid=rdc_news_hp_carousel_theLatest

     1031 Exchanges Under Threat?

A major tax advantage for the commercial real estate industry may be one of the casualties in a sweeping federal tax reform expected this year, The Wall Street  Journal reports.
By: Daily Real Estate News, REALTOR®Mag, June 15, 2017

Four Tech Trends Shaping the CRE Industry

Innovative tech startups are reshaping the commercial real estate industry with new tools that can cut costs, boost productivity and improve decision making.

By: Carrie Rossenfeld, GlobeSt.com, June 15, 2017
Read more: http://www.globest.com/sites/carrierossenfeld/2017/06/14/four-tech- trends-shaping-the-cre-industry/?slreturn=20170528160352

             How Whole Foods’ Real Estate Assets Could Help Amazon Deliver The Goods

You’ve probably heard about how Amazon’s $13.7 billion acquisition of

Whole Foods bumped up the share prices of both companies in the days following  the announcement.

By: Ely Razin, Forbes, June 28, 2017
Read more: https://www.forbes.com/sites/elyrazin/2017/06/28/how-whole-foods-real- estate-assets-could-help-amazon-deliver-the-goods/#6a6bf30e4e64
 

America is Over-Malled, But Not Enough Warehouses to Support Amazon

While traditional retailers are closing stores as shopper foot traffic slows,

construction of new industrial properties is accelerating.

           By: Lauren Thomas, CNBC, June 23, 2017
             Read more: http://www.cnbc.com/2017/06/23/malls-warehouses-amazon.html

‘Trust Me, You’ll Love It’: Caveat Emptor in Real Estate Transactions

The doctrine particularly applies to commercial real estate, where courts often presume that sophisticated purchasers will conduct their own due diligence.

By: Faegre Baker Daniels, JDSupra®, June 23, 2017

Three Transformative CEOs Who Behind The Scenes Have Changed Our World

In this article, Andy Florance, founder and CEO of CoStar, Tien Tzuo,  founder

and CEO of Zuora and Jay Walker, founder of Priceline.com and numerous other companies, share in their own words what they did and their advice to CEOs who seek to be transformative.

By: Robert Reiss, contributor Forbes, June 12,  2017
Read more: https://www.forbes.com/sites/robertreiss/2017/06/12/three-transformative- ceos-who-behind-the-scenes-have-changed-our-world/#719b3f746ef7