Archive for category: Helpful Resources

What The Beatles Should Know About St. George Short Sales

Well, what the Beatles should know about St. George short sales depends on which Beatles we’re talking about. Paul and Ringo are still alive, but they are rarely, if ever, seen in the Saint George, Utah area. And if Paul and Ringo should know about a St. George short sale, they’re either looking for a bargain or they simply love the beauty and climate of Washington County for the next of their many houses.

Whether those Beatles are interested in the real estate of Southern Utah is for me to know and for you to find out. (You wouldn’t want me to fall out of their graces for revealing secrets, would you?) Perhaps there are other Beatles who may wish to buy a house in St. George. Beatle-loving entomologists, who changed their name to Beatle or folks born with the surname Beatle are options to pursue a St. George short sale; and while ESPN broadcaster, Michelle Beadles, may love St. George, her name is spelled with a D.

Regardless of which Beatles or blokes are considering a St. George short sale, they should know the following six things.

When the owner of a property owes more than it’s worth, he or she may be in the less-than-ideal financial position to sell the property as a short sale. This means that he must get the lender’s permission to sell the house or land for less than what is owed. If the seller convinces the lender that he is in financial hardship and can’t continue to make the mortgage payments, the lender will often agree to a sale of the property for less than the balance of the mortgage. This is preferable to default and foreclosure for the lender, because, for example, $200,000 is better toward a debt of $235,000 than nothing, and foreclosures cost the lenders much more.

Selling your house as a short sale is softer on your credit score than a foreclosure is. You can sell the house, get some emotional relief, and move on to preparing to buy another home, with little hit on the Fico. Keep in mind that the longer the lender takes to approve the short sale and the offer from a buyer, the more months you’ll be late on your mortgage payments, which do affect the FICO score.

The seller doesn’t have to pay sales commission to the real estate agents; the lender pays them.

Because the lender has to approve both the seller’s application for a St. George short sale and also the offers by potential buyers, the sale can take months, usually about 120 days.

The number of prospective buyers of short sales is smaller than for typical real estate because of the waiting time. Some buyers simply don’t have months to wait in purchasing a house, so you have less competition when making offers on St. George short sales.

When making an offer on a short sale, be aware that because of the likely financial duress of the seller, he may not have been able to maintain the property very well, so it will likely need repairs and fix-ups.

What+The+Beatles+Should+Know+About+St.+George+Short+Sales+%281%29.jpg
What The Beatles Should Know About St. George Short Sales

Article By: Clear Content Marketing

What Does a Title Company do for you in the Real Estate Transaction?

What Does a Title Company do for you in the Real Estate Transaction?

 

Have you ever wondered exactly what title companies do? A St George title company is one of the most important aspects of any real estate transaction and provides services that are more intricate and involved than you may have thought. Title companies are mainly responsible for assuring that real estate properties have valid titles as well as title insurance. The management and care of escrow accounts is also a common service that a St George title company provides. A brief description of each of these tasks, including why they are important to the real estate transaction, will be discussed here.

The process of validating a title

When a person purchases a property, they must be confident that the title associated with the property is authentic in order to know that they are the new and legal owner. A St George title company will verify the validity of the property’s title. They will perform a comprehensive title search that involves examining property records for the purpose of verifying who is the true and legal owner of the property. This search will also make absolutely sure that there are no unresolved financial obligations associated with the property such as unpaid taxes, judgements, liens, outstanding mortgages, leases, easements, and any other potential restrictions. Another important aspect of this title verification process involves a property survey which dictates the size and boundaries of the property and addresses any possible property encroachments by nearby property owners.

After this process is completed, the St George title company will provide a document called the abstract of title which essentially lays out the property’s ownership history, after which they will provide another document called a title opinion which notifies the prospective owner whether or not the title is valid.

Explaining title insurance

At the point when a title is determined valid by a St George title company, the next step is to supply title insurance. Title insurance is extremely important because this is how a homeowner and lender protect themselves in the event of a title-related dispute, claim, or lawsuit concerning the property. Two types of title insurance exist: lender’s and owner’s. Lender’s title insurance exist so the mortgage company is protected and owner’s title insurance exists so the property owner is protected. Typically, when you close on a property you simultaneously pay for lender’s title insurance. Owner’s title insurance, on the other hand, is technically not mandatory but you should always consider it as such.

Managing escrow accounts

An escrow account is vitally important in a real estate transaction because it is where closing funds are kept. These funds are to be used exclusively for costs associated with the formal closing and settlement of the property. When a person is ready to close on a property, a St George title company will provide a settlement agent. This person is responsible for a number things that are designed to organize and simplify the closing process such as securing the closing costs using funds in the escrow account and explaining all relevant documentation to everyone involved. 

A St George title company will also ensure that all important documents such as deeds and titles are filed appropriately. Poorly or misfiled title documents can result in enormous amounts of time-consuming work when engaged in future transactions having to do with a property. Title companies will make sure this doesn’t happen.

Conclusion

Eagle Gate Title in St George, UT is dedicated to providing the most professional and friendly customer experience. If you have any questions about what title companies do and how we can help you, we would be happy to answer them. Visit our homepage for further information.



  

What Does a Title Company do for you in the Real Estate Transaction?

St. George Title Company

Article by Clear Content Marketing 

A Beginner’s Guide to Title Insurance-Part 2

This article is a continuation of the Saint George UT title insurance post A Beginner’s Guide to Title Insurance – Part 2.

In Part 1 we established the nature and importance of Saint George UT title insurance. Now we’ll discuss how to go about acquiring it and the process behind being covered.

Disclaimer: Remember that no matter what, you need to consult a representative from Eagle Gate Title to make sure you understand what is and isn’t covered, regardless of what’s said here, what is said on sites, or what friends and family may tell you. Policies sometimes change and there are so many different circumstances that yield different types of coverage.

Primarily, a title search needs to performed before a policy can be issued. A title search assures that there are no problems with the title in question. In the scenario where title issues are found, the responsibility to take care of them falls on the seller. And in the very unlikely scenario where the seller decides that they won’t clear the title, the Saint George UT title insurance company will be unable to provide coverage on the title of their new property. Again, this is an unlikely scenario, but it still bears mentioning here.

More often than not, the title search will come back positive at which point the Saint George UT title insurance company will issue the buyer a policy. This policy will come with three assurances. The first is that the title search was performed satisfactorily. The second is that the new title insurance policy has accounted for any problems that may have arisen during the title search. And the third is that the policy will cover the buyer in the event of any future mishaps as laid out in the document. Also remember that Saint George UT title insurance policies do not cover any claim that is greater than the home’s purchase price.

Depending on what state the property that needs title insurance is in, the nature of coverage can differ. Even different counties and certainly different insurance companies themselves differ in what is and isn’t covered and at what amount. However, almost all Saint George UT title insurance companies cover the following: documents that weren’t filed properly, unknown heirs, forged documents, other issues overlooked by a title search.

There are additional circumstances involving a property title that can come up and may not be covered by a standard Saint George UT title insurance policy. Sometimes policy extensions can be purchased to include some of the following scenarios, but here are some things that are usually not covered under a standard policy: post-policy claims, environmental protection laws, zoning problems, boundary line disputes, issues off public record. Be sure to go over fine printand ask questions before signing off on your title insurance policy so you exactly what is and isn’t covered.

In Utah, the seller is generally responsible for paying the owner’s policy and the buyer is generally responsible for paying the lender’s policy. But in other states, these responsibilities can vary. Georgia, for example, requires both insurance’s to be paid for my the seller. In Illinois, the buyer (rather than the seller) pays for lender’s insurance. Different forms of Insurance costs are also affected by location. Title insurance regulation varies depending on what state the property is in. Contact Eagle Gate Title for cost information regarding Saint George UT title insurance policies.

We conclude by reminding readers that Saint George UT title insurance protects homeowners not from potential, future problems but rather from past problems that have taken place before the policy was purchased. For instance, in the event that a self-declared property heir files a suit after the Saint George UT title insurance policy was purchased, no coverage will be provided. But if, during the title search, a lawsuit by an heir was overlooked that existed prior to the purchase of the insurance policy, coverage will be provided.


A Beginners Guide to Title Insurance- Part 2

St. George Title Insurance

Article By: Clear Content Marketing

 

10 Ways To Protect Yourself In A Home Closing Process

For 99% of the civilized world’s population, buying a house is the largest financial deal they will ever make.  It affects quality of life, safety, social life, monthly bills, and long-term financial health. Going into a closing process blindly will undoubtedly bring both emotional and financial stress to concerned parties; however, there are ways to prepare and things to know so the transaction is not only much less stressful, but also exciting—a day to celebrate.  This article presents ten ways to protect yourself in the closing process of buying a home.

  1. It would be irresponsible not to mention of the effect that buying a home can have on personal relationships.  So, if you have a spouse or partner, they should be in agreement with the purchase and aware of the terms in the transaction; otherwise, you could be headed for trouble.  Talk, listen, ask, listen again until you understand your partner’s point of view, read this article, and come to consensus on the purchase before entering the closing process.

2. Get a pre-approval letter from a mortgage lender for a purchase price you qualify for.  This not only helps you decide on your suitable price range, but also strengthens your offers when the sellers see your ability to get financing.

3. When you are ready to make an offer to purchase a property, hire a real estate agent to monitor things from offer to the closing process.  Share wants and needs so he or she can offer smart suggestions to avoid unnecessary headaches.

4. Next, open an escrow account, usually through the help of your real estate agent.  The escrow account is held by a third party to protect the money of both the seller and the buyer (including earnest money submitted with the offer).  At the right times in the closing process, the neutral, custodian of the escrow funds will distribute them properly.

5. Do a title search, and obtain title insurance.  These protect you from any liens against the property, ownership claims by another party, and any hazards which may be contained in the property itself.  This step in the home closing process is a must.

6. Lock in a good interest rate.  Mortgage loan rates fluctuate, so check them regularly, and lock in a rate with your lender when the interest rate is satisfactory to you.

7. Order the inspections—both home and pest.  A home inspector will visit the house you want to buy and search, thoroughly we hope, for problems that need repair.  A pest inspector will look for signs of termites, carpenter ants, and any other critters that may have or will damage the structure.  After getting the results of the inspection, you can renegotiate the price of the house or ask the seller to pay for the repairs.

8. At least three days before the closing date, you should have in your hands the closing disclosure, which indicates the terms of the loan, the closing costs, and any other fees.  Some states even allow you to read all the closing documents, which you can get from the escrow account officer, before attending the closing day arrives. That way, you don’t feel pressured to hurry through and sign them while the seller, agent, notary, and perhaps other people are silently biting their tongue, “Just sign ‘em so we can get paid.”

9. One of the last steps in the closing process before you sign the papers should be to walk through the property one last time. You want to make sure no damage has occurred since your last home inspection, the required repairs have been completed by the seller, no new problems are found, and nothing has been removed that is included in the purchase papers.

10. Bring three things to the closing appointment: your real estate agent, your money, and your wits. Your agent or mortgage lender can clarify any questions which might come up. If you have any closing costs or if you need to pay a down payment, usually a wire transfer is required. The title company will coordinate that in a safe and secure manner. If you come prepared and have read the closing disclosure, you can be calm and happy about the event.

10 Ways To Protect Yourself In A Home Closing Process

Article By: Clear Content Marketing

What Should You Expect From Us As A Buyer?

At Eagle Gate Title, we put extra effort into making sure that those we serve rest assured that they are dealing with the most trustworthy and efficient of all St George title companies. Because we know that our customers expect the best when they choose us, we maintain high expectations for ourselves. What should you expect from a really good title company? Here are some things that we do at Eagle Gate to stay at the top of our game that we feel potential customers should always expect from St George title companies in order to know that your closing process will go smoothly.

No Paper

There are very few industries left in the modern world that truly require physical filing cabinets full of paperwork. Technology has allowed the filing of documents to be more efficient than ever before as most companies have gone almost exclusively digital when it comes to files and documents.

Great Customer Service

Because St George title companies provide a necessary service that can’t be skipped in order to complete a real estate transaction, there are some out there that don’t prioritize customer service. This is unfortunate because we believe that there is nothing more important than making a concerted effort to be as friendly as possible to our clients while meeting all of their needs. Buying property is one of the most important decisions that we all make in our lives and St George title companies should treat each customer experience with an equal level of respect and importance.

Punctuality

Being punctual in the title industry is considerably complicated and requires a significant amount of planning and determination. This is because there are so many different parties involved in the closing process that are all on their own timetable; title insurance agents, lenders, underwriters, real estate agents, buyers, and sellers. With so many individual minds playing essential roles, only the best St George title companies manage to consistently meet deadlines with precision.

Safe and Efficient Escrow Transfers

The process of transferring Escrow funds must be rigidly secure so that each and every customer knows without a doubt that their money is protected. A title company’s escrow transferring process should be executed with precision.

Speedy Underwriting

A great indicator of a really good title company is the speed and efficiency at which they execute the entire underwriting process. This is a sure sign of an organization that is well-versed in mortgage lending and real estate law, and one that has its operations down to a science.

Adept at Handling Disputes

Unforeseen problems such as claims or disputes do arise from time to time despite the best efforts of everyone involved and in these situations, it’s up to the St George title companies to defend them against the written policy. Organizations that are more than capable of expertly handling any legal matter that may come up is another great indicator of a title company that is worth working with.

Strict Compliance

This goes without saying, but you should never choose a title company that doesn’t adhere to industry regulations and the law. Even when choosing among St George title companies it’s best to do a bit of research, ask around, read reviews, and make sure the folks that you’re considering using have a reputation of being honest and trustworthy.

Conclusion

At Eagle Gate Title, we implement each and every one of these industry best-practices including many others not mentioned. When it comes to St George title companies, you can be sure that when you work with us, you’re working with the best.


What Should You Expect From Us As A Buyer?

St George Title Companies

Article by Clear Content Marketing

5 Things a Title Search Can Tell You About a Property

Obtaining a Certificate of Title by conducting a St George title search is recommended and/or required in numerous situations, such as when refinancing a mortgage, when proving ownership, when selling or buying property, and more. A Certificate of Title (CT) is a record of land ownership. It includes legal and public information concerning restrictions and interests on the land, like lease and mortgage details, names of property owners, and much more property information. For the most part, CTs are acquired electronically today in conjunction with a St George title search.

Of all the things that a St George title search can show you about a property, here 5 of the most important.

Owners

All land owners are listed on a property title by name. Some properties have multiple owners in which case the St George title search would reveal either joint tenants or tenants in common. In the case of joint tenants, if one passes away, the other retains full ownership. In the case of tenants in common, a portion of the land is owned by a person who has the option to leave their share of the property to someone in a will or simply sell it.

Easements

An easement is when a property owner gives specific property rights to someone who doesn’t have ownership, such as for right of way or services. If you need city workers to have the ability to service a piece of city property -such as an electrical pole – that resides on your property, an easement would be arranged. This is an example of a service easement. If a neighbor or service worker needed to cross your property to access something on the other side – such as a road or electricity infrastructure – this is when a right of way easement would come into play. A St George title search can reveal preexisting easements that a property may have, which in some cases could prevent or hinder certain uses of the land if not discovered and addressed.

Covenants

St George title searches also disclose covenants which are land restrictions and guidelines that can put limits on certain aspects of property use, such as materials that must or cannot be used in construction, or what can or cannot be built on it. Property developers create covenants to retain the feel, look, and quality of a neighborhood or building. Types of covenants include those that limit the number or type of structures that can be built on a property, as well as specifying paint colors that must or cannot be used on a home, or limits on driveway size, things like that. Obviously, a person would want to know if such limitations existed on a property they were considering purchasing.

Caveats

In some scenarios, another person who claims that all or part of the property rightfully belongs to them may have expressed official interest in the property, which shows up in a St George title search as a warning in the form of a legal notice that the person would have lodged with the state land registry. This is called a caveat. In a situation where a St George title search brings up a caveat, the existing owner is prevented from selling. Caveats can be lodged by builders who are owed money, relatives or heirs of existing or previous owners. Caveats will not clear the title, as expected.

Mortgages

The Certificate of Title is held by the bank, not the property owner, if the property has a mortgage on it. In this case, the St George title search will show the lender listed on the title. This can delay the purchasing process as the mortgage must be discharged by the seller before going forward.


5 Things a Title Search Can Tell You About A Property

St. George Ut Title Company

Article By: Clear Content Marketing

 

3 Freaky Reasons Why CC&R’s In St. George Can Get You Fired

New to the neighborhood, I thought I’d attend the monthly HOA (Home Owners’ Association) meeting.  After all, an HOA is a new thing for me, and I wanted to introduce myself, meet some of my neighbors, and make a good first impression.  I also wanted to find out if all the bad things my friends told me about HOAs were true.

The Board members read the minutes from the last meeting and shifted to tonight’s agenda.  “Anyone have input on CC&Rs?” Well, this one is easy, I thought. I spoke up, “My favorite oldies band!  John Fogerty, Proud Mary, great stuff!” Some members laughed a little, and others just glared at the innocent smile on my face.  One said, “Not CCR, CC&Rs.” “Oh, of course,” I uttered. I felt dumb and embarrassed. Then, a shocking dialogue ensued, and I learned the good, bad, and the ugly about CC&Rs.  This article presents three reasons why CC&Rs in St. George can get you fired.

What Are CC&Rs?

First, let me define CC&Rs.  The abbreviation stands for Covenants, Conditions, and Restrictions.  If you live in a house that’s part of an HOA, you have to agree to abide by the CCRs, which are designed to enhance property values and safety in the neighborhood.  They are rules that tell you what you can and can’t do with your property. Common examples include what kind of pets you may keep, where you may park, and what color you may paint your house.  If you rebel against the CC&Rs in St. George, any of the following can happen.

The Size Of Your Dog

1. Many CC&Rs in St. George limit the size of your dog.  That’s why you see plenty of folks in HOA communities, walking their ankle-biting Shitzus and Yorkshires.  Rarely will you see a 100-pound Labrador or Rottweiler. The reasoning is that they can be destructive to fences, graphically violent to people, especially children, and, as Donald Trump would say, “Their poops are huge!”  If you ignore this CC&R in St. George, the HOA can ban you from the facilities, such as swimming pool and clubhouse.  Then if you are caught using the pool, they can call Police because you longer had the legal right to the pool.  This citation or arrest is usually posted online, and if your boss gets wind of it, you could be fired for the misdemeanor.

What Color To Paint Your House

2. Another common CC&R restricts how you can paint or “beautify” your house.  One guy I know was from California, so he was accustomed to the many colors of stucco houses, commonly seen in California cities.  He painted his house a soft orange, lighter than salmon, kinda peachy. Not only did the HOA fine him, but also two neighbors made death threats.  Had he not returned the stucco back to boring beige, there very well may have been some vandalism or fist fights, which could definitely cause you to lose your job, especially if a weapon or serious injury is involved.

Where You Park

3. Most HOAs are enclosed developments with narrow streets, so parking on the street is often prohibited.  The CC&Rs in St. George typically don’t allow using your garage as a storage unit.  They’ll tell you it’s a fire hazard and attracts vermin, which are debatable, of course.  But, it is nicer driving around the community, not having to avoid cars in narrow passages.  And certainly, emergency vehicles have better access, too. If you continue to ignore this one, the HOA can file a lawsuit against you, forcing you to park the car in your garage.  Continued noncompliance can lead to arrest and more bad PR for your job or business.

3 Freaky Reasons Why CC&R’s In St. George Can Get You Fired

Article By: Clear Content Marketing

 

What is Title Insurance, Why is it Necessary, and Who Needs it?

 

Many people view title insurance as just an indeterminate charge that shows up in the paperwork associated with loan closing. It often doesn’t receive a closer look by clients. At some point during the closing process, the lender will likely tell the client that title insurance in St George is required, the client will agree, and that will be it. It’s important to understand, however, that title insurance is extremely important. Here, we’ll give a brief explanation of what title insurance in St George is, how it works, and how much it costs.

What is Title Insurance?

Title insurance is protection against potential financial losses that have to do with property ownership. With it, the insured is protected against all sorts of possible scenarios. There are two different policies that come into play when discussing title insurance in St George: a lender’s policy and an owner’s policy. Both require a one-time-only payment; no monthly payments. If the title company finds that the property the client is purchasing has a clear title, meaning there are no title defects or legal claims against it (such as past due taxes, liens from past lenders, or levies from creditors, for example), many wonder why title insurance in St George would be necessary.

Why is it Necessary?

It is necessary because future incidents could very well occur that would make title insurance in St George invaluable, even many years later. Examples include but are not limited to an unknown pending lawsuit (or legal judgement), a previously unknown heir, title researcher oversight, or an ownership history mistake. Some type of fraudulent title issue is also not outside the realm of possibility. If one of these scenarios shows itself at any time in the duration of your ownership, title insurance in St George will provide assistance with associated legal costs and much more. Lenders have an obvious interest in their clients maintaining title insurance in St George since the lenders are “on the hook”, so to speak, for the value of the home, particularly in the mortgage’s first few years.

Who Needs it?

Every transaction that involves a mortgage requires both a lender’s and owner’s policy. The buyer generally pays for the lender’s policy and the seller pays for the owner’s policy. In the case of a cash transaction, only an owner’s policy is required which is generally paid for by the seller because there is no lender involved. There simply is no way to know what could happen at any point in the future in regards to the title of a property you purchase. You will definitely sleep better at night knowing that if something did happen, your equity and your down payment would not be at risk due to title insurance in St George.

The Cost of Title Insurance

In some cases, you can negotiate with the seller and have them pay for both policies. However, if payment responsibility falls on your shoulders, it is more than likely that it won’t cost much. Depending on what state you live in, the cost of these policies can vary. The average cost for title insurance is between $1,000-$4,000. It is also important to note that many states regulate these costs, meaning there wouldn’t be a better deal to be had at a different title company.

Conclusion

Call Eagle Gate Title or visit our website for answers to any further questions that you may have about title insurance in St George. We promise to be honest, friendly, and forthcoming in all of our communication with both potential and current clients. We have seen title insurance save the day for so many people and always want our clients to understand the benefits of having it.



  

What is Title Insurance, Why is it Necessary, and Who Needs it?

Title Insurance in St George

Article by Clear Content Marketing 

How to Search Property Records & Why It’s Important

Exploring St George property records often becomes a necessary exercise when you’re in the market for a new property as well as in other scenarios that call for it. Public records can provide a lot of information on the history and status of any property of interest. So what exactly will St George property records reveal when a search is conducted? A lot. These searches can reveal things such as:

-How long they have been the owner

-Improvements that have been made over the years (with our without a permit)

-Foreclosure status

-Whether or not bankruptcy has ever been filed by the seller

-Any current or past litigation that has taken place or is pending

-Mortgage history

-Tax history

-Roof type, number of rooms, square footage, and other specs

-Value estimates

You can see how important it would be to know all of these things about a property you were interested in. There are countless examples of property record searches being invaluable when preparing for a real estate transaction. So how does one go about searching St George property records?

No matter the city that you live in, there will be a place where anyone can go and search for property information, typically in a place like the county department, city hall, county recorders office, public library, or county courthouse. The people employed there should be informed and prepared to assist in a search.

However, many aspects of searching St George property records can now be done online. Today, many counties have digitized these records making it easier than ever to find the information you’re looking for. For example, perhaps you’ve found the name of the owner of a property but not their address. To locate the person, reports can be ordered online (for a fee) that will help you find them. You can search property tax records online and get information such as the owner’s name, tax ID number, and how much tax they owe.

Another way to get St George property records is by contacting a local title company like Eagle Gate Title. We can produce property profiles for you that often include copies of mortgages and deeds. Title companies can also help you find out if an owner has any liens or judgements filed against them.

Real estate agents can sometimes provide assistance in obtaining St George property records as they typically subscribe to services that allow them access to exclusive property information.

There are more ways to obtain St George property records than what is described here, but the main message we want to get across is how important it is to have a title search done and to make sure that you’ve acquired all pertinent information about a property of interest before going forward with a purchase.


How to Search Property Records & Why It’s Important

St. George Property Records

Article By: Clear Content Marketing

 

What Are Items That Show Up On A Title?

What Are Items That Show Up On A Title?

 

There are many documents that a buyer will be shown during the closing process, all designed to disclose important information about the property. Of all these documents, the title is certainly one of the most significant. This essential report details many different things including anything recorded against the home (like easements, encroachments, or liens), as well vesting and ownership. The preliminary title report will also disclose the results of the county records search that the St George UT title company will have performed to validate the issuance of title insurance. It will also list as exceptions any liens that are held against the property, if applicable. There are three items on a preliminary title report that typically merit the closest review, however. Those are the legal description, taxes, and mortgage liens.

The Legal Description

The property’s location and boundaries are provided here in precise and descriptive detail by the St George UT title company, particularly in relation to intersections and streets nearby (advertising or marketing distributed by real estate agents don’t typically include this information). The legal description will also include other details on the property’s interests such as storage or parking that conveys within the property or easements (exclusive or nonexclusive). Here is an example: “Beginning at a point on the Easterly line of Gardenia Street, distant thereon 300 feet Northerly from the Northerly line of Crescent Road; running thence Northerly along the Easterly line of Dickson Boulevard 30 feet; thence at a right angle Easterly 200 feet,” etc.

Taxes

The primary lien on a title report will always be property taxes. This is because if there are any unresolved property taxes associated with the property of interest, a new person cannot take ownership. A property cannot be transferred in this scenario. A debt holder cannot get paid until a settlement on the taxes is completed.

Mortgage Liens

In most cases, if you look right underneath property taxes on the preliminary title report provided by your St George UT title company you’ll see mortgage liens listed, and they’ll be listed in descending order (1st, 2nd…) beginning with the largest. These liens have to be paid in the order they appear on the preliminary title report upon closing. You’ve probably heard of a short sale. This is where it gets its name. The lender (or lenders) agrees to receive less than the amount owed (shorted) as the sale itself will not produce enough money take care of all the lien holders and property taxes in full.

Here are some other things that could appear on a title report from your St George UT title company:

Easements

An easement is “a right to cross or otherwise use someone else’s land for a specified purpose”. If another person has an easement on the property of interest, the title report will show it. Unless both parties come to an agreement to remove the easement, it will stay on the report. If needed, a review of the original easement agreement can be performed by the St George UT title company.

CC&RS

This stands for covenants, conditions, and restrictions which can be recorded against the property in some cases. Buyers are required to follow all rules set forth by a CC&R. These are almost always applicable if the St George title company is dealing with any type of developed subdivision.

Planning Requirements, Historic Oversights, & Restrictions

Perhaps the property is in a historical district and, as a result, is subject to additional and perhaps out-of-the-ordinary restrictions and rules such as requiring the new owner to changes the house’s facade, for example. The St George UT title company will inform the buyer if this applies in the title report.



  

What Are Items That Show Up On A Title?

St George UT Title Company

Article by Clear Content Marketing 

Subscribe

Sign up with your email address to receive news and updates.

COTTONWOOD HEIGHTS
7135 S. Highland Dr. Ste #204
Cottonwood Heights, UT 84121
(T) 801.901.3780
ST. GEORGE
229 E St. George Blvd #200
St. George, UT 84770
(T) 435.703.6060
OREM 
59 W University Pkwy
Orem, UT 84058
(T) 801.802.0995
RIVERTON 
1262 W. 12700 S. Unit D
Riverton, UT 84065
(T) 801.901.3780
SUGAR HOUSE
(BY APPOINTMENT ONLY)
2834 Highland Dr
Salt Lake City, UT 84106
(T) 801.901.3780
Follow Us

macrae@eaglegatetitle.com


Eagle Gate Title Insurance Company makes no express or implied warranty respecting the information presented and assumes no responsibility for errors or omissions.
© 2019 Eagle Gate Title Insurance Company | All Rights Reserved