property profile search from title company - Posted by Tim

Posted by Kristine-CA on July 17, 2007 at 15:05:42:

I often play around in response to questions about who I am. I say my
name. When they ask me who I’m with, I say my name. Then they make
assumptions and say: So your I’m Kristine with Kristine Inc? Yup. People
think what they want to think no matter what you say. Kristine

property profile search from title company - Posted by Tim

Posted by Tim on July 17, 2007 at 10:27:36:

I attended the last lending workshop seminar in Atlanta (Very Valuable, to say the least). I recall my notes and what Terry mentioned about obtaining a “property profile report” from national title company at no cost or very minimal cost (around $25 per report). Well, I contacted First American Title (Corporate), Chicago Title (Corporate) and Steward Title (Corporate). I asked for a property profile report and they forwarded me to their office in NJ (where the property that I was seeking info is located). When I spoke to the local office, they would provide me a profile report, but for the cost of $225 (from Chicago. The others quoted me to $250). Is there anyone that can tell me if they’ve made this request, if they’ve been successful at obtaining a profile property report at no or minimal cost and if you can share exactly who you called (what number), and the wording of that request? Thanks, Tim

Re: property profile search from title company - Posted by IB (NJ)

Posted by IB (NJ) on July 18, 2007 at 13:49:27:

Tim, I’m in NJ. What county are you in?

You’ll find it more informative, educational and economical if you learn the record system for deeds and mortgages yourself as opposed to paying a couple of hundred dollars for a report.

I’m very familiar with the record systems of Essex, Union, Middlesex, Hudson and Monmouth counties and they’re really not that hard (except Essex).

Ib

Re: property profile search from title company - Posted by michaela-CA

Posted by michaela-CA on July 17, 2007 at 12:56:30:

Tim,

it really depend son where you are. In California closigns are done by title ocmpanies. In Atlanta closings are done with Attorneys. Calling a title company up and asking for a title report is just not done there and you woaon’t get anywhere, as title companies work with attorneys as customers and not private people.

So, in my opinion, asking title companies for a title report is specific to those states,w here title companies work directly with the public.

Wherever you are - are you a member of a local REIA? In Atlanta, for example, GA REIA has set up computers will all of those online services and members can search property details for free in their office. Other REIAs in other cities may have similar services.

Michaela

Re: property profile search from title company - Posted by Kristine-CA

Posted by Kristine-CA on July 17, 2007 at 11:38:51:

Property profiles are a customer service provided by the title
companies because they want you to do their business with them (or
continue to do business with them). However, there seems to be a lot
of people running into problems, especially newbies. I think that title
companies are being hit with too many requests and not enough
business. Depending on the area and the market conditions, the title
companies may just decide to not to provide this service or to provide
it only with charges.

The prices you mention are well outside the norm–that’s what a
prelim title POLICY costs in my area.

Two suggestions:

  1. Start over again. Do not call your Atlanta office for business in NJ.
    The national title companies, for the most part, are not chains. They
    are separate companies. I live in one town and invest in another a few
    hours away. The title companies do not allow me to deliver paperwork
    or sign docs in my hometown. Call the customer service dept. for a
    title company in the town in which the property is located. Ask for a
    profile. They’ll either want to help you…or not.

  2. You can use subscription services such as realquest and dataquick.
    These are title company services online. The fees you would pay for
    either comps or a profile are much lower than the prices qouted to you.
    You could pay a monthly fee of a few hundred dollars or buy reports
    for $10-30.

I think the glut of REI educators out there combined with hot markets
(until recently) made it difficult for title companies to keep up. At least
that’s true where I am. It makes sense that they are limiting their
services to those that they believe will provide income.

Happy property profile hunting, Kristine

Re: property profile search from title company - Posted by Tim

Posted by Tim on July 18, 2007 at 13:52:33:

IB, I’m interested in Passaic, Bergen, and Morris counties.

Re: property profile search from title company - Posted by Tim

Posted by Tim on July 17, 2007 at 13:32:52:

The property is in NJ.

Re: property profile search from title company - Posted by Tim

Posted by Tim on July 17, 2007 at 12:43:50:

Kristine, thanks very much for your value response. Just another question - should I present myself as a person who’s looking to buy a home or a real estate investor? Thanks, Tim

Re: property profile search from title company - Posted by michaela-CA

Posted by michaela-CA on July 17, 2007 at 17:21:20:

Tim,

I don’t know who does closing sin NJ. I’m kind of thinking, that it’s done through attorneys, but I may be wrong.

Michaela