All posts by Ryan Thompson

Top 4 Real Estate Deal Killers

It’s October, season of carving pumpkins and munching on candy corn. However, there’s something lurking just around the corner or hiding in the front yard creeping up on your customer, and if your customers are not careful – these monsters can jump out and KILL YOUR NEXT DEAL!

To help ensure your customers don’t unwittingly cast themselves as the victims in their own horror movie this season, check out the tips below on some of the biggest KILLERS of a real estate transaction!

Don’t Spend Like a PSYCHO!

After signing the contract for their new home, but before closing, some customers just get into a spending mood! It may be tempting to use a new line of credit to fill the new house with furniture or purchase a shiny new SUV for the driveway, but these transactions can QUICKLY change your lender’s opinion about your credit-worthiness and cause your deal to go down the drain!

Avoid the Home of FRANKENSTEIN.

Some homes look great on the outside and even through the buying process, only for the future homeowners to find out the home has not been properly upgraded throughout the years and is, instead, a mishmash of a lot of parts like Frankenstein’s monster. That home may not pass inspection, and when that happens, the sale is gone. Don’t let your buyers be sad. It’s a good thing to keep their family safe from plumbing, foundation, or electrical issues… as Frankie says – FIRE BAD.

Steer Clear of the INVISIBLE ZOMBIE.

A surprisingly common issue when someone is selling their home is that their legal spouse has gone as invisible as Claude Raine. When people move away from each other without filing the correct legal documents, they may forget that technically BOTH parties still own the home, and there’s been instances where the former spouse cannot be found in time – bringing the closing to a screeching halt.

Don’t Let Liens Drain You Like DRACULA.

Imagine getting excited about your new home, only to find the solar panels that you thought were a nice addition come with a $20,000 lien on the property. Just like Dracula – that sucks! Make sure you ask your title company for a comprehensive title search so that these kinds of liens don’t suck the life out of your customers’ bank accounts!

As you can see, it may seem like there’s danger lurking around every corner, but with a little bit of preparation – and choosing a title company backed with the power of Florida Agency Network – you can help your customers avoid turning their experience into a horror film!

Happy Halloween!

 

Don’t Get Bit – Prevent Online Vampires from Sucking the Life from Your Meetings

cartoon comic vampire

One side effect of the COVID crisis has been an increase in the use of online based video chat services like Zoom. Unfortunately, this also has created a new type of online cyber-criminal… the ZOOMPIRE!

This “vampire” isn’t after your blood but, instead, specializes in sending fake zoom meetings to users to steal their personal data with specialized links used to fool the person into believing they’ve been invited to an online meeting.

Researchers at INKY say that these new attacks are even fooling some Secure Email Gateways (SEGs), making them harder to catch.

In addition, they can send a direct link, preventing your browser’s fraud prevention, as well. “If the hacker includes a fake attachment, it leads to a fake login page that’s locally hosted on the recipient’s computer, not the internet,” the researchers write.

The solution here may be a low tech one. By texting or calling to confirm any meetings you didn’t set up yourself, you can be sure you’re only joining meetings you’re supposed to join – and prevent the ZOOMPIRE!

 

Have You Met Alanna?

Have you heard about Alanna, Florida Agency Network’s new virtual assistant?

She helps answer all your closing questions day or night, right from your text messages. The service is free to all our clients when they close with any of the offices in The Network.

You can read more about Alanna, visit the homepage and talk with Alanna in the chat box at the bottom right-hand corner, or contact her via text at 813-710-4126. Also, we’ve created a downloadable PDF for you to share with colleagues and clients.

Why You Need a Comprehensive Lien Search


 

You’ve just bought a house. You and your spouse are enjoying your new home, your new neighborhood, and your new back yard. In fact, you’re out back sipping coffee one morning when you open a letter from your city and find that you now owe $34,000 in code violations. The previous owner let the lawn grow too tall and didn’t fix it for months.

This sounds like a horror story, and it is! But, it’s also a true story! This is one of the many dangers in not getting a municipal lien search – an additional search that must be requested.

That’s why Florida Agency Network offers a wide variety of additional comprehensive searches that go above and beyond the typical lien and title searches required by law.

Here are some of our additional searches and the value they hold:

MUNICIPAL SEARCHES

This search allows us to find liens from the local city or town that may be placed for various reasons, such as unpaid taxes, water, or sewer charges. These can come back to the new owners, as the lien is on the property not the person who owned the property.

MERS

This is a national database that tracks mortgage servicers to ensure interests in loans for residential real estate. This ensures that the mortgages have been moved properly and your current servicer is the correct one.

PERMIT SEARCHES

When an owner has open or expired permits left on the home, they can cause trouble for the new owners – especially if they want to do some work that requires a permit. It’s important to get these items resolved before closing.

CODE & CODE ENFORCEMENT SEARCHES

Code violations are the responsibility of the homeowner, regardless of when the violation happened. This means tall grass, pest extermination, or other code violations can come back to cost the new owner.

These are just some of the ways that not doing a comprehensive search for your customers can come back and cost them. Your Florida Agency Network agency is ready to help! To share this information with others, we have a downloadable PDF.

 

Why Do You Need a Survey When Purchasing a Home?

Surveys, also called boundary or land surveys, map out your real estate property, show its boundary lines, improvements made to the property, and all access to the property.

FIVE GREAT REASONS TO PURCHASE A SURVEY

1. UNDISCLOSED RIGHTS AND EASEMENTS
You may own your new home and its surrounding land, but someone else might have a right to use a portion of your property. A survey will show physical evidence of the rights of others to use your property for access, parking, utilities, and other situations.

2. UNDISCOVERED ENCROACHMENTS
A survey may be the only way to tell if a third party holds a claim to part of your property because their improvements, such as a garage, fence, or swimming pool, are on your land.

3. IS THE PROPERTY BUILT ON THE CORRECT LOT
It may seem impossible, but sometimes a house is built on the wrong lot. A survey provides peace of mind by showing the exact location of the house you are buying.

4. KNOWING THE SIZE OF YOUR PROPERTY
A survey shows the exact dimensions of the property’s boundary lines and how much land is included within those lines.

5. FUTURE ADDITIONS
Many residential plotted lots can have building restrictions, which could prohibit you from building close to the boundary lines. If you are thinking of building future additions on your property, a survey can help determine if the lot is right for both your current and future plans.

These are a few reasons why you should purchase a survey when making one of the largest investments in your life. We’ve created a downloadable PDF of this information for you to keep or share.

At Strategic Title , we are always available to answer questions about your survey or your closing. Feel free to contact our office with any further questions you may have.

 

 

Must-Know List Before a Hurricane Strikes

Each year, the country is hit with hurricanes, tornadoes, hailstorms, super storms, flooding, and more. With hurricane season running from June 1st to November 30th, coastal and inland region homeowners must prepare for potential storms annually.  Of course, you have insurance to help you recover. But knowing and doing a few things now—while the weather’s fair—can help you and your family stay safe and help you protect your property if the unexpected happens.

Here are 10 Ways to Prepare You and Your Clients for Hurricane Season:

10. Know Your Closing Options

Know your closing options in case of an evacuation. Our options include, but are not limited to, Remote Online Notarization (RON), Mobile Notary to come to your location, or a Traditional Closing (in-person at the office).

9. Trim Your Landscape

Trim trees and shrubbery to help protect your house in case of a storm. Keep in mind this is a tip if you are about to list your home or have purchased a new home.

8. Stock Up

Stock up on important items such as canned goods, water, pet food, paper goods, flashlights, batteries, and most importantly – adult beverages.

7. Think About Your Outdoor Items

Consider where to store outside items if a storm comes, such as a boat, a trailer, pool chairs/equipment, etc.

6. Take Photos

Take photos of the property, inside and out, prior to the storm.

5. Secure Important Documents

Be sure all important documents are stored in a waterproof safe, in the cloud, or in a secure portal online. These documents should include your Homeowners Insurance policy, survey, marriage license, wills, social security card, title policy, etc.

4. Consider Flood Insurance

Consider Flood Insurance, even if you are not in a flood zone. Be sure to purchase early – it can take 30+ days for the insurance company to finalize your policy.

3. Bind Your Homeowners Insurance Early

Homeowners Insurance – obtain quotes prior to signing your contract and consider binding the policy early, even before your closing day.

2. Don’t Host the Hurricane Party

Find out who’s hosting the local Hurricane Party… because you don’t want to be volunteered to host it at your new house!

1. STOCK UP ON TOILET PAPER!!!

In addition to these tips, be sure to stay up to date on local news and have a battery-operated radio on hand to stay informed during power outages.

We created a downloadable PDF of our tips for you and your clients. For resources by county on flood and evacuation zones, visit www.floridadisaster.org/knowyourzone.

Stay safe this hurricane season!

 

 

May the 4th Be with You

may-the-4th-be-with-you-text

This May don’t forget to celebrate “May the 4th Be with You” – a fun holiday celebrating the biggest movie franchise in history, Star Wars!  It’s a story of the Jedi vs. the Sith, Rebels vs. the Empire, and Good vs. Evil – which reminds us of our galactic fight vs. hackers!

Much like the Jedi, we’re locked in an endless battle against evil, and much like the Sith, that evil can clone itself, change, and adapt to our defenses. That means we must be ready for anything.

Here are a few ways we’re helping protect you against the evils of the galaxy!

“Artoo Detoo, you know better than to trust a strange computer.” – C3PO

Our secure portal is like flying your ship through hyperspace to deliver your secure documents. Unlike traditional document delivery, such as emails or fax, our secure portal uses multi-factor authentication to ensure all communication between us and your customers is secure and cannot be intercepted.

“And now, your highness, we will discuss the location of your hidden rebel base.” – Darth Vader

Picture of Darth Vader

Mortgage payoffs are at a heightened risk from those determined to turn to the dark side. While other title companies are fighting against a barrage of fake payoffs sent via email or text, we’ve centralized our mortgage payoffs, like a hidden rebel base. If the payoff doesn’t come from our secure hidden base, we blast it into deep space.

“Never tell me the odds!” – Han Solo

All the security processes above would mean nothing if they failed when we needed them, so we rely on our SOC1 and SOC2 certification to help ensure we keep the odds of anything going wrong as close to zero to possible. Annually, these reports test and prod at our systems, like firing lasers at ourselves to test our shields. The SOC 1 report audits our ability to keep our customer’s financial information secure, and the SOC 2 tests our compliance for security, confidentiality, and privacy.

Those are just a few of the ways we’re fighting the never-ending galactic battle against outside forces coming after your customer’s money. If you’d like to find out how else we can help you, call us today to set up a meeting with one of our Jedi. They are truly experts – and not bad with a lightsaber either!

 

 

 

5 Ways to Stay Safe Financially During the COVID-19 Pandemic

woman animation planning her financesWe’re all experiencing an unprecedented time in our history; most of the country and large parts of the world are under some type of stay-at-home orders. While our team members at Strategic Title are working hard to make sure your transaction closes on time, unfortunately, there is an army of unscrupulous people that are using this time to attack you financially.

As the world has turned to online services for financial transactions, 22% of Americans have been the target of fraud attempts in the past few weeks. They hope that you’re too preoccupied with the immediate need of social distancing to notice that the threats of fraud are still quite high.

With that in mind, here are 5 ways to stay safe financially during the COVID-19 novel coronavirus pandemic:

  1. DOUBLE CHECK YOUR CLICK – At least half of all COVID-19 related websites that have registered during this time are suspected of malicious activity. Be wary of ANY coronavirus specific website and pay attention to your clicks on social media or the internet. Before your click, check that the link is going to the expected website – preferably one you know already and trust.
  2. BE AWARE OF FAKE NEWS – Scammers are creating fake news stories on contaminated websites in hopes that you’ll not only read them, but share them online – all to get you and your friends to visit their malicious websites. While some of these websites may look legitimate, they can hide spyware or be phishing for your data. Check all news stories to ensure they are from mainstream media sources.
  3. VERIFY THE SENDER – The FBI warns of a significant threat of phishing emails relating to economic stimulus payments, charitable and relief contributions, fake cures, vaccines, and testing kits. If you’re not sure, click on the sender’s EMAIL ADDRESS (but not any links in the email) to see if the email matches the sender. If you’re not 100% sure who the sender is and that you were the intended recipient, do not open or forward the email.
  4. CHANGE YOUR PASSWORDS – While you should always be cautious about your passwords, it’s good practice to change them during times of accelerated fraud activity. Some experts recommend using pass phrases instead of complicated passwords, which may be easier to remember. Also, it’s not OK to share passwords among websites and other places to prevent your passwords being stolen from one website and used on another.
  5. DON’T TEXT BACK – Have you heard of SMISHING? It’s a new form of information phishing that hackers are using to send you text messages that include links or will appear to be from legitimate sources. Remember the same tips from your emails and don’t trust anything unless you’re SURE who the sender is. Delete anything you’re not sure about. Also, no one will ask for your password via text messages, so if you get a text asking for ANY passwords, it’s delete-worthy!

Those are just a few ways to help you stay safe while we all are trying to keep our distance from one another. Remember, while you should always use caution when banking, communicating or shopping online, now is the time to be EXTRA vigilant.

 

eClosings: Welcome to the Future!

businessman-hands-signing-digital-signatureYOU Are a Time Traveler!

Congratulations to you, the time-traveling realtor, for helping to advance closings of the future. If you’re not as excited as we are, it’s likely that you don’t know you’re a part of the future of real estate – eClosings.

What Is an eClosing?

An eClosing is any closing where documents are delivered and executed electronically. If you’re a customer of any Florida Agency Network title agency, you have probably participated in an eClosing as we stay on the cutting edge of closing technology.

If you’re not already one of our lucky time travelers, here’s what an eClosing can look like for you and your customers:

  1. Using our online portal, your customers are not at the mercy of office hours to have documents sent or received. There is no need to fax or come into the office.
  2. Some documents will be sent directly to your customers to be signed electronically. Most modern mortgage documents are signed with services such as Docusign or Adobe Sign.
  3. A digital PDF copy of the Closing Disclosure is sent electronically for review by you and your customers.

Then, most importantly, when it comes to the actual closing day, you and your customers have many choices on where – and HOW – to execute the final documents:

  1. Come to any of our 25+ offices to sit with one of our licensed title agents who can answer any questions you might have. They may have you sign at least some of the  documents electronically.
  2. Next, have your customers meet you at their home, place of work, or your office. We can send one of our “Mobile Closers” to you to make the closing completely convenient and have someone guide your customers through the documents.
  3. With RON, or remote online notarization, you may be able to have your customer close anywhere in the WORLD – while they are on vacation, a work trip, or just sitting on the beach. They just need to be a U.S. citizen and have a strong WiFi connection.

So, while we’re still waiting for our flying cars and robot maids, you can join us in the future today!

 

 

Tax time – How to Get Your Documents from Our FAN Portal!

tax season

A few things in life are certain, and taxes are one of the least enjoyable ones. For real estate agents that are guiding their customers through one of the most important financial decisions of their life, it’s vital to understand that they are likely to have tax implications when buying or selling a home and to know how to get them started on the right path to properly file.

Jake Alexander, President of Action Accounting in Clearwater, states that “it’s very important for real estate agents to advise their clients to know their dates and know their numbers, so they can file properly the first time and not have to deal with a surprise letter from the IRS years down the road.”

Luckily, Strategic Title is equipped with a secure portal that allows YOUR buyers and sellers to pull their documents in the privacy of their own home.

Both buyers and sellers can login to the same portal they used when purchasing or selling their home and navigate to the documents section to find their tax documents.

  • Buyers should pull their ALTA statement from the “SETTLEMENT STATEMENT” section of the portal. They should also keep track of purchase documents and improvements they make to their home to reduce their tax liability within the 24-month exemption of capital gains in case of the sale of the property.
  • Sellers will need to pull the 1099 forms provided on the portal and report those on their taxes. The issue of tax liability when selling their home will rely on many factors, and they should seek the advice of a tax professional to answer any questions.

Be sure to mention the availability of these documents to your buyers and sellers throughout the year and consider setting up a calendar reminder to touch base with all of them at tax time. They’ll appreciate the reminder!

As always, if you need any assistance with helping your customers locate their documents, please feel free to reach out to our office.