what is the fastest you have ever gotten title work or title report back

Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes

I think I just have gotten my personal record.

I opened escrow at 8am and had updated and ready to go title report back by 11:30 am same day.. And I did not put a rush on it.

This was WFG title in Omak Washington and the property was in Oakanagan county WA. These are rural counties so I was not expecting to get this back so quick.. my client e mailed me Tuesday we negotiated the deal ( bare land) I open escrow yesterday . Will have docs to title late today and either close tomorrow or Monday latest.

What is your record for turn around on title work ? so shout out to WFG Omak !!!

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John UnderwoodPro Member

Investor · Greer, SC · Member since 2014 · 13k+ posts · 17k+ votes

@Jay Hinrichs

I buy mostly with cash. I can check the Register of Deeds site, type up a deed, and purchase a house in 2 hours. That includes going to the bank and getting a cashiers check.

Pay them at the bank, get deed notarized there, then take it to Register of Deeds and file deed.

I have done this a half dozen times to keep from missing out on a great deal.

For what I'm paying any risk is negligible.

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Chris Martin
Investor · Willow Spring, NC · Member since 2009 · 5k+ posts · 3k+ votes
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Wow! The fastest I've seen personally is a few days, with a reinsurance policy through Metro Title (they were on Glenwood Ave in Raleigh, but I think they moved.) The deal was a long time ago and it was a quick-close, pre-foreclosure, all cash deal. The paralegal was good at interfacing with title and trustee companies. For those properties with HOAs, the HOA was usually the PITA.
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Jay HinrichsBusiness Member
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Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
1y
Quote from @Chris Martin:

Wow! The fastest I've seen personally is a few days, with a reinsurance policy through Metro Title (they were on Glenwood Ave in Raleigh, but I think they moved.) The deal was a long time ago and it was a quick-close, pre-foreclosure, all cash deal. The paralegal was good at interfacing with title and trustee companies. For those properties with HOAs, the HOA was usually the PITA.

ya to be fair here.. with this type of land there is no HOA No utl search etc.. but I was still pretty stunned.. I know our title plants in the metro areas of Or Wa are all off shore and its common to order title one day it gets worked up in the Philippines at night and back to Or the next day or 2 days.. but this one really shocked me thats why I thought to post about it.
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Chris SeveneyBusiness Member
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Investor · VA · Member since 2015 · 21k+ posts · 19k+ votes
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Quote from @Jay Hinrichs:

I think I just have gotten my personal record.
I opened escrow at 8am and had updated and ready to go title report back by 11:30 am same day.. And I did not put a rush on it.
This was WFG title in Omak Washington and the property was in Oakanagan county WA. These are rural counties so I was not expecting to get this back so quick.. my client e mailed me Tuesday we negotiated the deal ( bare land) I open escrow yesterday . Will have docs to title late today and either close tomorrow or Monday latest.
What is your record for turn around on title work ? so shout out to WFG Omak !!!

Mine was next day. Typically, we see it take several days except in PA because of the promothonotery or whatever its called for taxes in PA.
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Jay HinrichsBusiness Member
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Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
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Quote from @Chris Seveney:

Quote from @Jay Hinrichs:

I think I just have gotten my personal record.
I opened escrow at 8am and had updated and ready to go title report back by 11:30 am same day.. And I did not put a rush on it.
This was WFG title in Omak Washington and the property was in Oakanagan county WA. These are rural counties so I was not expecting to get this back so quick.. my client e mailed me Tuesday we negotiated the deal ( bare land) I open escrow yesterday . Will have docs to title late today and either close tomorrow or Monday latest.
What is your record for turn around on title work ? so shout out to WFG Omak !!!

Mine was next day. Typically, we see it take several days except in PA because of the promothonotery or whatever its called for taxes in PA.

I see some of the states that are still stuck in the 1800s using title abstractors taking a week two weeks.. the folks that are local simply dont know any better as its just SOP for them.

And my recent transactions in IOWA thats a whole nother enchilada with their title abstracts literally compiled and handed to the buyers for safe keeping.. I mean they get done but its so foreign to what I am used to.
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Tom GimerBusiness Member
DMV · Member since 2017 · 3k+ posts · 3k+ votes
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@Jay Hinrichs We essentially have an in-house abstractor (Salt Abstracts — MD; M&M — DC), so when I REALLY need it I can have title in ~1 hour.
I try not to be that demanding often but it’s a nice resource to have access to.
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Jay HinrichsBusiness Member
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Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
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Quote from @Tom Gimer:

@Jay Hinrichs We essentially have an in-house abstractor (Salt Abstracts — MD; M&M — DC), so when I REALLY need it I can have title in ~1 hour.
I try not to be that demanding often but it’s a nice resource to have access to.

not everybody has an abstractor on Speed dial LOL.. I guess my point was I did not ask for a rush and boom title comes back in 4 hours so I thought it was something really !!.. Also I am thinking now that these are small rural counties with population in the entire county probably no more than 50k or so.. at least with most of those folks living in the city of Oroville which is right on the border with British Columbia In my flying days I would go into Oroville to get through US customs compared to going into one of the airports Airports north of Seattle . Much easier and never more than just one plane at a time.
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John UnderwoodPro Member
Investor · Greer, SC · Member since 2014 · 13k+ posts · 17k+ votes
1y
@Jay Hinrichs
I buy mostly with cash. I can check the Register of Deeds site, type up a deed, and purchase a house in 2 hours. That includes going to the bank and getting a cashiers check.
Pay them at the bank, get deed notarized there, then take it to Register of Deeds and file deed.
I have done this a half dozen times to keep from missing out on a great deal.
For what I'm paying any risk is negligible.
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Jay HinrichsBusiness Member
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Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
1y
Quote from @John Underwood:

@Jay Hinrichs
I buy mostly with cash. I can check the Register of Deeds site, type up a deed, and purchase a house in 2 hours. That includes going to the bank and getting a cashiers check.
Pay them at the bank, get deed notarized there, then take it to Register of Deeds and file deed.
I have done this a half dozen times to keep from missing out on a great deal.
For what I'm paying any risk is negligible.

been there done that its how I used to do pre foreclosures out west before the laws changed.. Included in that was hiring a courier company to run a cashiers check to the foreclosure trustee the morning before the sale literally getting the check there within 30 minutes and then have the sale cancelled record my deed and on we went. But like you no title insurnace and it was only the amount to bring it current so we were not risking more than say 50 to 100k per deal.
But most were 25 to 35k.. In my case this week this was full title insurance for me as a lender in 4 hours which as stated is the fastest service I personally have gotten.
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Jay HinrichsBusiness Member
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Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
1y
Quote from @John Underwood:

@Jay Hinrichs
I buy mostly with cash. I can check the Register of Deeds site, type up a deed, and purchase a house in 2 hours. That includes going to the bank and getting a cashiers check.
Pay them at the bank, get deed notarized there, then take it to Register of Deeds and file deed.
I have done this a half dozen times to keep from missing out on a great deal.
For what I'm paying any risk is negligible.

AS a follow up as you know I think your one of the brightest investors on Bp.

that said totally agree with how you do your deals.. When I was a kid my dad hauled me around with him for years doing his RE sales calls and meetings with his RE attorney. And Bruno ( the attorney was like an uncle to me) And he would always tell me the way to financial success in RE is to learn the courthouse.. This includes the strategies and actions you employ by being able to do your own deals without any assistance. In addition being able to do your own searchs and one thing out west here that was very productive for us/me was just going through the big Plat maps ( the actual mylar / paper ones in the day) We could find shadow plats. These were plats of subdivisions that were platted and recorded in the early 1900's but never developed and generally owned by one individual or company. So you have this shadow plat underneath a 10 acre lot The county assessor since its all one ownership would just show the acreage and no individual lots IE not give them apn #s so if you were looking at the county assessor maps you would just see this 10 acre lot.. But beneath was a subdivision.. So we would buy the aceage and since the legal descriptions still called out lot and block we would just start to deed out the lots to get them on the tax rolls and the Assessor would change the maps. One of the bigger ones we did was Called Rainbow Knolls in Lakeport CA. One can see it today were its now individual lots 50X 100 with roads and houses.

Now this can be done in Urban areas as well.. those in the Know can find these hidden lots and there is some big money to be made at this. Most cities will have a process to unlock the lots.. But a realtor will not know these underlying lots exist and for sure wholesalers wont have a clue. And boom you buy a lot for the price of a single lot and with some simple forms to the city you get to re establish the old lots.. This is big business in Portland Or. for sure.

And when I was doing aheroshome.org and doing 1 hour consultations to BP members for a donation to our Charity.. I talked to a Lady in Nashville and walked her through the process and she was able to do this and made some pretty spectacular gains on recreating old parcels.

Far to many real estate investors and RE agents just have no clue as to how the court house works how escrow really works and etc etc.. But those who do know can make some pretty spectacular deals.

There was a famous one in CA.. as these rules are alive there. Where an investor bought a ranch out at Big Sur CA. it was like 1000 acres above the ocean worth Millions.. And found underneath in the old deeds 10 or so legal lots of record. Selling each lot for what they paid for the entire ranch.. Big money.
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John UnderwoodPro Member
Investor · Greer, SC · Member since 2014 · 13k+ posts · 17k+ votes
1y
Wow that is a high compliment coming from you Jay!
Thanks
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