When hiring or consulting with a professional, it’s common to sit back and let them do their job. At the same time, there’s a good chance you can actually help them do their job more efficiently by taking certain actions yourself. Telling your doctor about your symptoms helps to pinpoint a diagnosis, just like explaining your version of events to a lawyer helps them build a solid defense plan. The same can be said in the world of commercial title research. We want to research a property and ensure you don’t run into any problems after closing, but you can actually help this process along, and you’ll benefit from this in the long run. In today’s blog, we share some ways that you can help your title service company during the due diligence phase of title investigation.
Helping Your Title Service Team
We don’t expect you to head down to the county registrar’s office and begin a deep review of property and tax records on your own, but there are a few simple things you can do that will make it much easier for your title team to do their job effectively, and that’ll help you when all is said and done. Here’s what you can do to assist:
- Relay Relevant Information - Make sure your title team has access to any paperwork or documents that are relevant to the property and the title investigation. If they ask for specific information or need you to review or sign off on something, take care of these requirements as quickly as possible to prevent delays.
- Open Communication - When you first meet with your title services team, talk with them about how you’ll effectively communicate throughout the process. Do calls, texts or emails work best, and is there a time of day that works best to connect? Don’t wait days to return calls or emails, because their hands may be tied until you take care of something. Tell them how you prefer to be contacted and work to respond to their messages in a timely manner.
- The Earlier The Better - The sooner you connect with a title services team, the more time they’ll have to research a property once you have an accepted offer. Time moves quickly in the world of commercial real estate, and it’s possible that your closing date is rapidly approaching. Give your title services team as much time as possible to investigate your property so that no stone is unturned once your closing date arrives.
- Have An Open Mind - It can be hard to know exactly what you need and what aspects could be skipped when researching a property or developing a title insurance policy for your property. The best clients keep an open mind about what their title services team is recommending. If they are recommending specific ALTA endorsements based on your specific property type or land use, know that this is coming from a place of professional understanding. We’re also not going to try to sell you on add-ons you don’t need. Have an open mind when navigating the due diligence phase or securing a title insurance policy after closing because our job is to keep you protected from title issues, so be open to accepting advice and recommendations.
We take pride in providing all our clients with the best possible service, but know that you can help yourself by helping us do our job to the best of our ability. To see this process firsthand, or for help with a different aspect of the commercial real estate process, connect with the team at Commercial Partners today at (612) 337-2470.