Archives for Blog

Pitfalls That Can Cancel a Closing (On Closing Day)

You’ve been assigned your date, time and location for your property transaction closing, but you’re not in the clear yet! There are still some things that can compromise the closing and prevent it from happening. Heed this warning and make sure you or your clients do not fall victim to these issues:   Power of Attorney Issues    Cumberland Title can and will – and prefers – to draft this document in our office so we know for sure it will be correct and acceptable for use at the closing, and no issues will arise as a result. There is
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Title Insurance Q&A

Q: Does it make sense to get title insurance on a condo that was recently built if you intend to pay for it in cash? A: Absolutely. Title Insurance will defend against all potential claims going forward for as long as you own the property. It’s really a small, one-time price to pay to avoid all future headaches. The cost of coverage is far less than any future litigation would be in the event that there is a title claim/issue. This will also be handy in regards to the future sale of the property.   Q: Why do I have
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Bitcoin and the Real Estate Industry

Recently, a real estate agent asked me if she should be marketing her listing by including the fact that the seller is willing to accept Bitcoin.   If you don’t know what Bitcoin is, the simplest definition I can come up with is that Bitcoin is a digital currency and it, along with other cryptocurrencies, are going to change…everything. Here was my answer to her: Good News and Bad News as they say.   First of all, I’m the right guy to ask because I’m a cryptocurrency fan.  I’ve been buying, selling and well just holding about 16 different cryptocurrencies for about
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How Blockchain Technology Could Change the Real Estate Industry

In the simplest terms, blockchain is the ability to remotely share databases and processes, making them more centralized and accessible. For the real estate industry specifically, this could transform the industry by making it more modern and efficient. One such way is accessing the MLS Property Data system. Every real estate transaction goes through the MLS service which tracks agents, clients, contracts, listing agreements, appraisals, etc. Unfortunately the information on the MLS is often decentralized and restricted, and it’s often out of date. Blockchain technology can be used to overcome these barriers. By providing a way to securely share data,
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How To Ensure Your Real Estate Closing Happens on Schedule

When a title company is contacted to facilitate the closing for a property transaction, there is a great deal of information that they must gather in order to accurately allocate all monies and ensure that the documents reflect the most current, up to date and accurate information. One of the first things we do here at Cumberland Title is send out a questionnaire to both the buyer and seller, as well as to each realtor. The information on each document asks for vital information that is required by the title company in order for them to accurately and expeditiously prepare
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