Talon Northwest Neighborhoods

Tideland definitions for Seattle area waterfront properties

You may have heard of several different terms describing Puget Sound tidelands in the Seattle area. This video from Talon's own Chief Title Officer, Tim Daniels, is dedicated to defining how these periodically submerged lands are labeled on a deed's legal description. We'll also touch on the different ways high and low tides are measured when determining boundary lines.

Gotta love the Talon eagle flying by in the background!

 

Title Insurance ROCKS!

At The Talon Group, we take your compliments seriously.  Watch Chief Title Officer Daniels as he reacts to a recent tweet sent by a another happy client from the Seattle area!  

 

 

You never know just how much positive impact your compliments may have on someone...

How to file a claim against a title insurance policy

As with most types of insurance claims, the time it takes to settle a title issue largely depends on the time it takes to gather all the relevant information that a Claims Officer needs to determine if coverage exists and then to calculate the appropriate settlement amount.

If you feel that you have a claim against your title policy, time is of the essence! We recommend that you promptly contact the issuing company to discuss the issues AND create a written statement with the following information:

• To the best of your ability, describe in detail all matters involved with the potential claim including names, dates, and a description of the covered risk (i.e. boundary dispute, mechanics lien, permit issue, etc.) A title professional from the original issuing company may be able to help you with the wording here.

• Include location information such as legal descriptions of the properties involved and if appropriate, the approximate description of any areas affected i.e. north 10 feet property line.

• List any monetary loss which you have expended or expect to expend as a result of the potential claim. If you're considering to hire an attorney on your own, keep in mind that the title underwriter reserves the right to choose any attorney they see fit for defending a legal action on your behalf. This is the case whether or not the title company even agrees their is a legitimate claim against the policy!

• Simply providing the policy number can also help in expediting the process.

The extent of coverage ultimately depends on the type of owner's coverage issued. If you are having trouble locating your copy of the Owner's Policy of Title Insurance, you can easily request a copy by contacting the title company that issued the preliminary commitment at the time of your original purchase. Can't remember who your title company was? Your real estate broker, lender or escrow company can also help you in locating this information.

The Talon Group's very own Dr. of Title, Tim Daniels, prescribes the virtues of claim prevention....

TITLE HEROES

A special thanks to all title and escrow heroes everywhere. TITLE HEROES is dedicated to those special people in the industry who faithfully serve their communities. When times are good you're more than busy and when markets are down and times are challenging, you're even busier.

Thanks for being there and taking care of the client... Thanks for your expertise and dedication to a job done right. Thanks for doing everything possible and caring enough to get the deal done and closed as it should.

Be safe out there these wintery days…  Have a great Thanksgiving and be warm with family, friends, and loved ones.

From all of us at The Talon Group, Happy Holidays…

 

For more videos from The Talon Group, visit our YouTube Channel:
TalonNW

The Lighter Side of Title Insurance

A handful of employees at The Talon Group have embarked on a mission to poke a little fun at how dry and serious title insurance can be for consumers and other real estate related professionals. 

Throw these guys a standard el-cheapo flip camera and the fun begins after 5 pm on Fridays...then Tuesdays, Thursdays or whenever else someone comes up with silly idea on how to involve our "talonted" staff in a short video.  

Back on Mothers Day, I was explaining this video series to my father, a 60 year veteran of the real estate industry. He smiled and told me that Gordon Schlicke had already created a wildly popular topic named The Lighter Side of Lending. Naturally I googled it to confirm what he was talking about. Sure enough, Gordon has even written a book about it! 

You can view the results of the lighter side of title insurance Fun with Title Insurance on the front page of our website. We plan on creating four or five of these vids to balance out the more conservative educational videos we have been linking up to our site. 

In the sexy business of title and escrow, sometimes you need to jump up and down waving your arms just to get noticed.  Cute huh?

Talon's International Department speaks your language...and understands it too!

The Talon Group truly understands the importance of communication when dealing with the diverse communities surrounding the Puget Sound area. A well diversified housing market deserves an equally diversified title and escrow company.

Starting any successful venture begins with hiring the right person for the job, Alan Lee. Alan and I have history starting back in 2002 when he was introduced to me by a mutual friend at Washington Title Company (now named Ticor). We now find ourselves very fortunate for the Talonted cast of characters Alan has assembled at The Talon Group! Please spend a moment to view a fun video introduction of the team and make sure not to miss the credits at the end.  ;)

In order of appearance: Sandy Do, Escrow Officer/Limited Practice Officer; Hector Martin, Account Manager; Lee Nguyen, Property Information Specialist; Alan Lee, International Division Manager/Sales; Christine Yuan, International Escrow Manager/Limited Practice Manager; Bowic Tse, Limited Practice Officer.

Is there really any difference between title companies?

For the most part, title company services are priced competitively, issue the exact same "ALTA" policies and provide basic property information products free of charge. It's easy to fall into the idea that all title companies are the same. That is, until you need help solving a tough title related issue that squarely stands in the way of a transaction closing... or not.

Companies that employ true title experts willing to get involved in solving issues and creating options are becoming rare these days. Besides, a title company has no real obligation to insert themselves in helping to fix complicated title problems. They merely issue final policy when and if all title matters have been cleared.

To illustrate what types of title issues come up on a daily basis, The Talon Group's very own Chief Title Officer, Tim Daniels, is willing to share some of his experiences along the way. First scenario in this series relates to an encroachment issue that effected two neighboring properties in Issaquah Washington.

We truly hope you never get entangled in a transaction with messy title issues. But just you do, choose a title company that has a reputation for jumping into your corner!

 

2010 Property Taxes - What Should I Know?

I've gotten quite a few questions in recent days about 2010 tax amounts.  Many of the questions that we've received looked something like this:

"Hi Chris.  I have a home in Seattle that I purchased in May 2005.  I see that my assessments have gone down for 2010.  Can you send over what my taxes are looking like for 2010?  I'm looking forward to seeing my tax bill go down this year!"

Unfortunately the total property tax amounts won't be available until February, so we can't know for certain what our individual tax bills will look like until the counties make them available then.

2010 assessed values were calculated and notifications were sent out to homeowners around July of 2009.  Homeowners may be surprised to find out that while many assessments have gone down all around the Puget Sound, the individual property tax amounts probably won't be changing much.

Here is a quick video presentation that we made available last July in response to many of these same questions.  It will guide you through the process so that you will better understand how taxes are calculated, and why your individual tax bill may be going up slightly. 

Thanks everyone,

Chris Lodge - Real Estate Information Manager for the Talon Group.

Why do title companies need an identity affidavit?

Attempting to read and understand a title report can be very difficult for real estate professionals, not to mention the average consumer!  The following video includes a conversation between a "seller" and title company regarding why an identity affidavit is needed to clear an exception off of the title report. 

How to read a HUD - 1 Settlement Statement

The HUD-1 Settlement Statement is one of the key documents that is covered at closing. The purpose of this video is to clarify some of the mysteries of the form and prepare buyers for the types of things they might encounter when reviewing their own HUD-1. We help illustrate the HUD review process and explain each section of the form. Hopefully, this will make for a smoother transactions and create a better experience for all involved!  Below are two helpful files; a blank HUD-1 form and an explanation of the form.

Sample HUD-1 Form

HUD-1 Statement Explained