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A survey of business leaders shows that 59% of companies use Business Process Outsourcing (BPO) services to reduce operational costs. Other benefits organizations get from a BPO provider include:  Improved support functions like bulk data management Optimized customer services Improved efficiency in business operations   If other businesses are benefiting hugely from BPO services, you should also hire a BPO provider now to leverage the reliable services in your title company. But if you’re still unsure whether it’s a good idea, here are the undeniable benefits of working with a BPO provider.  1. Reliable Business Process Management Getting the facts right is the pillar of your title company. For this reason, you need a skilled BPO provider to help you conduct a thorough title search and analyze liens, deeds, and other documents to leave no room for errors. After all, BPO providers have the technological resources and a reliable team to ... Continue reading →

The process of securing a property, whether commercial or residential, is often exciting. But a defect in the title can be a major drawback to advancing the process. It also undermines your dedication to providing hassle-free transactions and derails your clear to close. Until title issues are resolved, your project will be halted. For a real estate development company, that might mean losing significant revenue. For a property hunter, defective titles narrow the odds of purchasing a dream property.  Don’t miss the chance to offer superior title clearance services to your clients and their borrowers/buyers. Partner with The Einfach Group (TEG) to leverage our quality and client-focused title curative services. We’ve been in the sector for nearly a decade, working with key decision-makers in large and mid-sized title companies, law firms, and mortgage lenders. Through our title curative solutions, we’ve helped them cure ambiguous and erroneous titles and speed up ... Continue reading →

Title companies are tasked with the important responsibility of ensuring that all closing disclosures are accurate. Even the slightest mistake can have costly consequences. In this article, we’ll explore some of the reasons why errors on CDs (closing disclosures) can be so costly, both fiscally and reputationally for title companies. What Are Closing Disclosures? Closing Disclosures, or CDs, are one of the most important parts of a real estate transaction. They list all pertinent information about the property being sold or refinanced, such as the address, sale price, and who is responsible for paying which fee. They are also used to calculate the prorated amount of property taxes and homeowners insurance. What Can Go Wrong With a CD? A title company is only as good as its last CD. If an error is made on a CD, it can be very costly, both fiscally and reputationally. The most common types of CD errors include: The property is listed under the wrong address: If the title company ... Continue reading →

Buying, refinancing, or cashing in on equity for residential or commercial real estate is fascinating, whether it is a new development or a dream of owning a home coming true after many years of struggle. However, a defective title could present a drawback to your goal with costly consequences. For developers, it could mean losing substantial revenue that can compromise their operations. On the other hand, homebuyers may have to give up the idea of owning a home or tapping into earned equity to complete home improvement projects or pay off existing debt. Defective titles make it impossible to offer hassle-free transactions to derail your clear to close. You’ll have to wait for the completion of title issues to continue your project. The real estate sector is time-sensitive, and time lost is directly proportional to value. It’s best to maximize your chances of getting reliable title clearance services for your clients and their borrowers. Working with a reliable ... Continue reading →

Accurate and up-to-date tax certificates are a vital part of any real estate transaction. Errors in these reports can cause significant losses, both financial and reputational. Read on for more info on what a tax certificate includes as well as why you should partner with TEG for your tax search needs. What is included in a tax search? This search includes vital info. It includes: A legal description of the parcel The current assessed value The municipal address The year the structure was erected The sum of property tax owed The yearly local development fees The existing tax account balance Once the search has been completed and analyzed, a tax certification is issued. On a tax certificate, you find the amount of property taxes collected over the year and the proportion of outstanding taxes. Additionally, the tax certificate has the total amount of tax arrears listed, if any. In addition, it includes the municipal address of the estate, its legal description, and, if necessary, the ... Continue reading →

A title search is the only way to protect yourself against the cost, time, and hassle of dealing with curative title issues. It lets you know if there’s any record of a lien or judgment against the property. It also reveals previous claims against the property, any outstanding mortgages, or liens filed by contractors and subcontractors who haven’t been paid for their work on the property   The most common curative issues that arise with real estate title deeds include: 1. Liens and Judgments Liens and judgments can be filed against properties for many reasons, from unpaid taxes to contractor disputes. Once a tax lien or judgment is recorded against a property, it becomes part of its public record forever – even if it’s paid off later. This can make it difficult for new buyers to get financing because lenders don’t want to lend money on what they perceive as a risky asset (the unpaid taxes). 2. Easements Easements are permissions that allow someone ... Continue reading →

The real estate market is changing fast, and there is no room for hesitation. The industry is getting more competitive and less tolerant of errors. That’s why many businesses are embracing Business Process Management (BPM).   Most companies looking to further their digital transformation process rely on technology that can improve product and service innovation, enhance operational efficiency, and improve customer response times. Effective implementation of BPM can quickly enhance these processes’ agility, repeatability, and transferability. Even though the market is challenging, it is wise to streamline business processes more than ever to save on costs and boost the bottom line. The goal is to automate repeatable processes to shorten product time to market and give employees more lead time to respond to the customer fast with solutions. According to data from research, the BPM market is expected to reach $16 billion by 2023. This is a 14% CAGR between 2017 and ... Continue reading →

The closing disclosure explains all the details of a home loan. It’s a most important document of a real estate transaction, as it helps to avoid errors and misunderstandings that could cause problems during the repayment process. The closing disclosure document includes such vital information as the money a buyer must present at closing, the interest rate of the loan, and the total of the required monthly payment. Buyers need to be fully prepared to avoid unexpected revelations at closing and later in the repayment process. They certainly don’t want to find that the loan payment exceeds their budget when it’s too late to make a change, or that they’re required to make a balloon payment – a condition of which they weren’t aware. Closing disclosures inform borrowers of the affordability and risk their mortgage presents. A thorough and clear closing disclosure document makes for a timely closing process. It benefits both the buyer and the lender ... Continue reading →

When a real estate transaction occurs, it is important to keep official records current to verify the property’s history, purchase, and ownership. As a title company, you have to ensure that your clients’ real estate transactions are accurately recorded with the county. The recorder dates and stamps real estate documents and uploads them to a public website. Improper or missing real estate records can lead to ownership disputes which can have severe legal and financial consequences on the buyer. For instance, if the buyer is purchasing a home, the lender may not allow them access to the house keys. The county recording office can also hold up their move-in date if recording is delayed. What is a Real Estate Recording? Recording is the act of putting a real estate or property transaction document into official county records to provide a traceable chain of title. A real estate transaction document, also called a recording instrument, is a legal document recorded in the ... Continue reading →

Before entering any real estate transaction, you must conduct a title search. A title search will show if the property owes back taxes or has outstanding liens. The search can also help protect you from unknowingly inheriting someone else’s debt. There are many ways of conducting title searches. They include deeds, tax liens, and land records, among others. Usually, title companies have the responsibility of undertaking title searches. You need a clean title to complete any real estate transaction. In case the title search finds out that there is a lien on the property, it is impossible to complete further transactions. Due to the risk involved, you should always hire a qualified professional to do a title search on your behalf. The Basics of Title Searches The objective of a title search is to establish whether a property owes back taxes and what liens may be present. It also helps determine if a property has issues or pending court cases. For instance, ... Continue reading →