Where do I start? How can I just jump into the ocean with the big fish and act like I know what I am doing? YIKES!
Take a breath. You have mastered the residential side of title and escrow. Think about it! Not an easy task. Most people do not understand the titles on our business cards let alone our role in the homeownership process. You got this! Now, let’s talk about coaching you to dive off into the deep end of the pool and learn to swim with the big fish!
At ALTA ONE during the education session “Commercial Business: Getting Your Feet Wet Without Sinking The Boat,” I’ll demonstrate how your title and closing experience has given you a solid foundation to explore the world of commercial real estate transactions with confidence.
We will start with a discussion about the opening of escrow and title. Crack open the oyster and see who holds the earnest money along with escrow and commercial escrow agreements.
Our discussion will also hit on reviewing the commercial purchase agreement and understanding the transaction from the beginning. You’ll learn what to look for and how to make sure nothing slips through your net!
Knowing what players should be participating in the transaction is important. Do we have Blue Points, Rockefellers or Pacific or all of the above?
One of the better parts of working in the commercial world is the opportunity to swim with both your title friends and experts as well as your escrow buddies throughout the entire transaction. We’ll look at why this facet of the transaction is critical to your success!
I’ll also help you understand the role your examiner plays in the transaction and how their involvement scores big with commercial clients. Every day brings another sand dollar and a new facet to the transaction. It is as fluid as the ocean!
Examine legal description and draw or compare with survey. Review Deed Chain of Title for establishing title findings. Do we have access to the moat? Easements, CCRs, liens?
Do you have the right poles and bait for the issuance of the commitment and the title policies? Determine the policy form and endorsements for the transaction. Provide copies of all exceptions to title with the title commitment. Authority to issue? Process to obtain? All questions we’ll discuss during the session. We will make sure there is no shell unturned, so you’re not left holding the bag. Are you ready to captain the ship?
I am looking forward to traveling with you on your next voyage—commercial transactions!
Aye, aye, Captain!
Margaret Sklenar of Metropolitan Title of Indiana will lead a session titled “Commercial Business: Getting Your Feet Wet Without Sinking The Boat” at ALTA ONE in Austin, Texas. Click here to register.
Source: ALTA Blog