Protecting Your Property Rights

CALIFORNIA TITLE COMPANY HAS A VESTED INTEREST IN THE CONSUMERS OF THE STATE OF CALIFORNIA.

Protecting Your Property Rights

Califor nia CONSUMER REPORT CALIFORNIA TITLE COMPANY HAS A VESTED INTEREST

IN THE CONSUMERS OF THE STATE OF CALIFORNIA.

JUNE 2018 ISSUE

The information contained herein is deemed to be reliable, but it is not guaranteed. California Title Company assumes no responsibility for errors or omissions. Images may be subject to copyright. ©2018 California Title Company.

AVOID DELAYS by providing as much information as you can as soon as possible.

The following items require added clearance and processing time for escrow and title:

BankruptciesProbates

ForeclosuresEstablishing Fact of Death - Joint Tenancy

Use of, Proper Execution of Power of AttorneyFamily Trust

Business TrustRecent Construction

Physical Inspection Findings: Encroachments, Off-Record Easements

Clearing Liens, JudgmentsClearing Child/Spousal Support Liens

Proper Execution of DocumentsProper Jurats, Notary Seals

Transfers/Loans Involving Corporations/PartnershipsLast Minute Changes in Buyers

Last Minute Changes in Coverage

COMMON TITLE OBSTACLES

April 24, 2018Article can be found: https://www.alta.org/news/news.cfm?20180424-ePN-Expands-Team-in-CaliforniaeRecording Partners Network (ePN) announced the recent additions of Chris Stephan as vice president of client services and Ryan Clegg as operations manager of client services.

Stephan has been involved with the real estate document recording industry for almost 10 years and has played a key role in the growth and expansion of electronic recording within California for title companies as well as county recorders. He is the co-chair of the Northern California Property Records Education Partners (PREP) and is very active within the Property Records Industry Association (PRIA).

Clegg has worked in the real estate transaction industry since 1999. Much of his early career was spent learning real estate recording laws by working for a title and escrow company preparing and issuing title commitments and insurance policies. He also worked for the San Diego County Recorder Office. In 2004, Clegg helped a title and escrow service firm expand into multiple states.

“Both Chris and Ryan are extremely knowledgeable in the document recording industry and have become tremendous assets to ePN,” said Jerry Lewalle, president of ePN. “Because California has unique recording processes compared to most states, they understand the challenges and bring creative and well thought out solutions to the table. We look for-ward to providing these key services to our clients.”

ePN Expands Team in California

• Standard CLTA Owner’s Title Insurance

• Real Estate Commission

• Escrow Fee (50%)

• Notary Fees

• Demand Fees

• Document preparation fee for deed

• Documentary transfer tax ($1.10 per $1,000.00 of sales price)

• Any City Transfer/Conveyance Tax (according to contract)

• Any bond or assessments (according to contract)

• Any and all delinquent taxes

• Any unpaid Homeowner’s dues

• Any FHA or VA loan fees required by Buyer’s Lender

• Payoff of all loans in Seller’s name (or existing loan balance if being assumed by Buyer)

• Interest accrued to Lender being paid off, Statement Fees, Reconveyance Fees and any Prepayment Penalties

• Home Warranty (according to contract)

• Any judgment, tax liens, etc. against the seller

• Recording charges to clear all documents of record against Seller

• Tax proration (for any taxes unpaid at time of transfer of title)

• Seller’s portion of Sub-Escrow Fee

• Homeowner’s Transfer Fee

• Escrow Loan Tie-In Fee

• Escrow Fee (50%)

• Document preparation (if applicable)

• Notary Fees

• Recording charges for all documents in Buyer’s name

• Tax proration (for date of acquisition)

• All new loan charges (except those required by Lender for Seller to pay)

• Assumption/Change of Records Fees for takeover of existing loan

• Beneficiary Statement Fee for assumption of existing loan

• Inspection Fees (roofing, property inspection, geological, etc.)

• Home Warranty (according to contract)

• City Transfer/Conveyance Tax (according to contract)

• Fire Insurance Premium for first year

• Buyer’s portion of Sub-Escrow Fee

The SELLER can generally be expected to pay for:

The BUYER can generally be expected to pay for:

WHO PAYS WHAT? A GUIDE TO CLOSING COSTS

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Form designed to provide disclosures that will be helpful to consumers in understanding the key fea-tures, costs and risks of the mortgage loan for which they are applying. Initial disclosure to be given to the consumer three (3) business days after application and replaces the GFE and early TIL.

LOAN ESTIMATE (LE)

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MWHAT EVERY REALTOR® SHOULD KNOW ABOUT OWNER’S TITLE INSURANCEMAKE SURE ALL OF YOUR CLIENTS ARE PROTECTEDYou’re a Realtor®, so you know that buying a home can be overwhelming for your clients. Homebuyers can feel confused and frustrated by the mounds of paperwork they have to sign. Plus, the fees associated with closing can sometimes be overwhelm-ing even to an experienced buyer. Owner’s title insurance is one of those items often misunderstood by homebuyers at closing, yet its value is tremendous. As an important advisor to your clients, you are in a position to help homebuyers understand the value of owner’s title insurance and the dangers that can be incurred without it.

WHAT IS TITLE INSURANCE?Owner’s title insurance is a policy that protects homebuyers’ property rights. For the same reasons the bank requires a lender’s insurance policy, the homebuyer obtains owner’s title insurance to protect their legal claims to the property. For more information about title insurance, or to find an ALTA member that can issue an owner’s policy, please direct your clients to homeclosing101.org

HOW IT PROTECTSSay, for example, your client recently purchased a new home from a builder, but the builder failed to pay the roofer. Wanting to be paid, the roofer filed a lien against the property. Without owner’s title insurance, your client would be responsible for paying this existing debt. This is just one example of how owner’s title insurance protects homebuyers from various significant risks.

ENDURING VALUEThe good news is that owner’s title insurance protects homebuyers legally and finan-cially, as long as they own their home. For a low, one-time fee, homebuyers can rest assured, knowing they are protected against existing debts or claims to their property.

NOTICE OF SALE (NOS)The Notice of Sale (NOS) generally states: the property address and/or legal description of a statement that the property will be sold at a public auction, and the date, time, and location of the foreclosure sale.

San Diego Farmers Markets Ongoinghttp://sdfarmbureau.org/BuyLocal/Farmers-Markets.php

San Diego Food Trucks Ongoingwww.sdfoodtrucks.com

San Diego County Fair June 2 - July 4Keep checking the fair's website for the official schedule as the event draws closer, and to keep tabs on the fair concerts and festivals lineups. This year's fair theme is "How Sweet it Is," promising visitors a bubble gum-sweet affair that'll make anyone feel like a kid again. https://sdfair.com

Art Around Adams June 2Stroll storefront art galleries and businesses and listen to music on several stages on a two-mile music and art walk. Over 100 businesses will change into impromptu art galleries and/or performance arenas for the day with 50 artists focusing on performance art, jewelry making, photography, tattoo, skateboard, oil painting, murals, dance, theater, and projection.www.artaroundadams.org

Classic Car Show June 3El Camino Memorial Park's annual benefit classic car show helps The Garden of Innocence organization provide dignified burials for abandoned babies in San Diego. Please come show your support and enjoy a BBQ with special musical guests The Hot Rod Trio. There will be vendors, raffles & prizes. All makes and models welcome.http://www.kpbs.org/events/2018

Chowder & Wine Tasting Festival June 7-10Seven tasting sessions over four days to sample three-ounce servings of New England, Manhattan, Seafood, Corn & Tortilla, and Fusion Chowders from up to 60 restaurants along with beverages from 40 wineries, 20 craft brewers and 8 cideries, and 8 non-alcohol beverage vendors. Listen to music from the event stage on the pier and view a variety of products from artisans and crafters. http://www.chowderfestival.com

International Boat Show June 7-10Over 140 boats for sale as well as the latest nautical gear, gadgets, and accessories. Check out the expanded selection of 80’+ superyachts. East end of Spanish Landing Park.www.sandiegointernationalboatshow.com

San Diego Greek Festival June 8-10This annual gathering offers a variety of Greek cuisine, handmade pastries, and traditional Greek coffee, all within the festive atmosphere of music and dance. Live bands will perform both traditional and contemporary Greek music, and youth dance troupes wearing folk costumes will showcase their skills throughout the weekend. http://sdgreekfestival.com

Fido Fest June 9Exhibitors, giveaways, adoptions, vaccinations, microchipping, dog licensing. Proceeds from opportunity drawing benefit Dogs on Deployment, a national 501(c)3 non-profit organization that fulfills its mission to provide a central network for military members to find volunteers willing to board their pets while they are deployed.http://cityofsanteeca.gov

2018 San Diego Festival of the Arts June 9-10The 2018 San Diego Festival of the Arts will showcase stunning works of painting, sculpture, photography, glass, jewelry, ceramics, wood, fiber and mixed media from nearly 200 world renowned artists June 9 and 10 at downtown San Diego's beautiful Waterfront Park. www.sdfestivalofthearts.org

San Diego Beer Festival June 15-17Entrance to beer festival from 1-5pm. Souvenir pint glass for you to add to your collection. Access to the exclusive Glenmorangie VIP tent including: Glenmorangie Scotch and Beer Pairings. A rotating tap of reserve beers from local breweries.https://sandiegobeerfestival.com

San Diego County Fair 5k June 16The 5th annual San Diego County Fair 5K is an all-ages, all-access behind the scenes run/walk of the iconic County Fair like you’ve never seen it before! Grab your friends and family, and join us at San Diego’s most celebrated tradition at the legendary Del Mar Fairgrounds! www.sdfair5k.com

Vans Warped Tour June 22The bill includes 3OH!3, Knuckle Puck, Mayday Parade, Reel Big Fish, All Time Low, The Amity Affliction, We The Kings, Asking Alexandria, Simple Plan, Assuming We Survive, Taking Back Sunday, August Burns Red, Beartooth, The Used, Less Than Jake, Bowling For Soup, Broadside, and more.https://vanswarpedtour.com

Wildhorse Half Marathon & 10K June 23The Wild Horse Trail Half Marathon is brought to you by Dirt Devil Racing and is the second race in both the Dirt Devil Racing Trail Half Marathon Series and the second in the Progressive Series (Foxy 5K, Wildhorse 10K, Stairway to Heaven 15K and Raptor Ridge 1/2). All racers will receive a custom, performance-technical fabric T-shirt, custom medal, and logo pint glass for finishing. www.dirtdevilracing.com

OB Street Fair and Chili Cook-Off June 23Join more than 70,000 visitors for an oceanfront chili cook-off, five stages of continuous live music and entertainment, the community mural project, Artists Alley, carnival rides and games, food and vendor booths, a beachside beer garden and more. https://oceanbeachsandiego.com

Tony Gwynn 5.5k Run/Walk/Hike June 23San Diego’s AleSmith Brewing Co. continues their support of the Tony and Alicia Gwynn (TAG) Foundation with the 4th annual Tony Gwynn 5.5K Run/Walk/Hike on Saturday, June 23 at Lake Poway. The family-friendly event is open to the public and raises money to benefit the TAG Foundation, which works to create a positive culture and environment for underprivileged children and young adults throughout San Diego.http://www.tonygwynn5k.org/

Festival of Yoga San Diego 2018 June 24One of San Diego's largest yoga festivals in celebration of the United Nations International Day of Yoga, sponsored by Pilgrimage of the Heart Yoga. San Diego nonprofit OG Yoga is honored to be Festival of Yoga’s first beneficiary.https://festivalofyogasandiego.org

Visit our website for more title related news and information! WWW.CALTITLE.COM

JUNE 2018San Diego Events Calendar