client resource guide - amerititle client...client resource guide ... blaine e m to n adison canyon...

At AmeriTitle, we take great pride in the opportunity to be part of one of the most important decisions people make in a lifetime.

It takes a group of providers, working as a team, to make the closing process a positive and enjoyable experience. It is our great pleasure to be part of this experience as we work closely with real estate agents, lenders, builders, attorneys, buyers, and sellers.

We’ve prepared this guide to share the tools and resources that we have available. We believe our most important and valuable resource to you is our people. We have staff members in all of our departments who serve with an uncompromising standard of professionalism, every step of the way.

It takes a highly skilled team to create a smooth closing. We hope you will choose AmeriTitle to be part of your team.

Title | Escrow | Business Development | Account & Contract Servicing

Client Resource Guide

Oregon • Idaho • Washington Recognized as a trusted resource for settlement services in the Pacifi c Northwest, AmeriTitle’s convenient locations in Oregon, Idaho, and Washington offer superior service and local expertise in all aspects of escrow, title insurance, and mapping services.

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https://plus.google.com/104744365027909079637/posts

https://twitter.com/Ameri_Title

https://www.facebook.com/AmeriTitleInc

https://www.linkedin.com/company/amerititle

FerryStevens

Okanogan Pend

Ore

ille

Boundary

Lincoln

Glacier Toole

Libe

rty Hill

BlainePhillips

Whatcom

Skagit

Chelan

PonderaClallam

ChouteauSnohomish

SandersDouglasJefferson Teton

SpokaneLake

Gar

field

Grant

Lincoln

Lewisand Clark

Kits

ap

FergusKing

CascadeMason

Missoula

Petr

oleu

m

Powell

GraysHarbor

Mineral

JudithBasinBenewah

PierceAdams

WhitmanThurston

Latah Meagher

YakimaClearwater

Rose

bud

Granite

Pacific Lewis

Gold

enVa

lley Musselshell

WheatlandFranklin

Benton

Garfield

Idaho

Ravalli

Columbia

WallaWalla

Jefferson YellowstoneLewis

Skam

aniaCowlitz

Wahkiakum

Deer Lo

dge

SweetGrass

Galla n

Park

SilverBow

Sllw

ater

Clark

Big HornWallowa Beaverhead

UnionMadison

Washing-ton

MultnomahCarbon

Clackamas

Linc

oln

ParkBig Horn

Grant

Lane

Bu e

Washakie

HotSprings

FremontCamas

Suble eLincoln

Good

ing

Min

idok

a

Curry

BearLake

OneidaFranklin

Sweetwater

Uinta

San Juan Island

Broad-water

Isla

nd

Flathead

Bonner

Shoshone

Kootenai

Nez Perce

Aso n

Uma llaMorrow

LemhiAdams

ValleyBaker

CusterWashington

Fremont

Teton

Clark

Gem

Malheur

Boise

Paye

e

Elmore

Jefferson

Harney

Blaine

Teto

nMadison

Canyon

AdaBonneville

Bingham

Lincoln

Power

Caribou

Bannock

TwinFalls

Jerome

Cassia

Ki tas

Klickitat

GilliamSher

manHood

River

WascoMarion

Polk

Wheeler

JeffersonLinnBenton

Crook

Deschutes

Douglas

OwyheeKlamath

LakeJackson

Yamhi ll

Colum-bia

Clatsop

Tilla

moo

k

Josephine

CoosCoos

W A S H I N G T O N

W Y O M I N G

M O N T A N A

O R E G O N

I D A H O

Our Futura Title brands offer a single point of contact for your Northwest title and escrow transactions.

Copyright © 2017 by Futura Title & Escrow Corp. All Rights Reserved. Printed in the USA.

Combined Service Footprint

LEGEND

REV 06/2017

Alliance Title & Escrow Corp. location

AmeriTitle location

Menu of Services


Departments • Title• Escrow• Business Development• Customer Service

Tools & ServicesEducation

• Approved Continuing Education Provider in Idaho and Oregon

• Title & Escrow 101 / New Agent Training• View Our Blog for News, Stats & Trends

Agent Tools• Property & Prospecting Tools• Online Resources at www.amerititle.com

- Web Calculators - Property Profi les - Transaction Management - Online Ordering - Buyer & Seller Guides and Checklists - Online CC&Rs and Plats

(available in select Idaho counties)• AmeriTitle’s friendly staff can help align our tools

with your business needs.

Rate Information• Professional Estimated Net Sheets• Title Products & Endorsement Information• Printed Rate Sheets• Tax Prorate Chart

Customer Service • List Packs / Trios• Comparables (including FSBO sales)

(available in Oregon)• Targeted Prospecting Lists• CC&Rs and Deed Copies (may involve a fee)• Notice of Default Searches• ATLIS Map Kits (where available)

- Locator, Aerial, Tax Lot, Subdivision, Zoning, Terrain, Flood

• Soil Maps (where available)

Companywide Services• Central Order Desk• Account / Contract Servicing• Reconveyance / Release Services• Builder & Developer Services

While we have the tools and services that you need, we believe our most valued asset is our people…

Connect with your local AmeriTitle offi ce to verify availability of products and services in your area.

www.amerititle.com







Map Kit MenuWe offer you a marketing solution with our proprietary database and mapping system called ATLISSM.

Our full color maps feature detail and design that will give any property that extra emphasis or information you are looking for.

Select one or all from our Map Kit menu for a specifi c property:• Locator Maps• Aerial Photos• Tax Lot Maps• Terrain Maps• Subdivision Maps• Zoning Maps• Flood Maps

In today’s real estate world, marketing is critical. AmeriTitle is your marketing source for real estate data, reports, and maps compiled in a professional format.

• Sales Data / Price• Real Market Values• Subdivisions • Acreage• Land Use• Bare Land• Improvement Type

• Area Sales (around an address, by subdivision, zoning, city)

• Ownership (current owners, out of area homeowners, trust, bank)

• Absentee Owner (connect with investors or renters)

• Length of Ownership (time to sell message)

• Square Footage (fi nd prospects interested in moving up or downsizing)

Customized Farm ReportsPinpoint your target with AmeriTitle’s customized farm reports. Our advanced search features can target mailing within a certain radius from a subject property or perform map-based geographic searches saving you time and money.

Search options to reach buyers, sellers, investors, or renters:

Connect with your local AmeriTitle offi ce to verify availability of products and services in your area.Fees may apply.

Data available in your preferred format: PDF, Email, Color Copy, JPG, Excel, Label-Ready

ATLISAmeriTitle Land Information System

Map Kit MenuOur full color 8X11 maps feature detail and design that will give any property that extra emphasis or information you are looking for.

Select one or all from our Map Kit menu for a speci c property:

• Aerial Photos• Zone Maps• Locator Maps• Subdivision Maps• Topography Maps• Neighborhood Mailings• Nearby Sales Reports• Tax Lot Map

Customized Farm Reports and LabelsPinpoint your target with AmeriTitle’s customized Farm Reports and labels. Our advanced search features can target mailing within a certain radius from a subject property or perform map-based geographic searches saving you time and money.

Search options to reach Buyers, Sellers, Investors, or Renters by:

In today’s real estate world, marketing is critical. AmeriTitle is your marketing source for Real Estate data, reports, and maps compiled in a professional format with superior service.

As an important customer for AmeriTitle, we offer you a marketing solution with our proprietary database and mapping system called ATLIS. Let our detailed maps and farm reports work for you!

• Recent Sales (around an address, by subdivision, zoning, city)

• Sales Date/Price• Ownership (current owners in a subdivision, out of area homeowners, LLC, Trusts)

• Acreage• Real Market Values• Land Use• Improvement Types

• Subdivisions• Find homes that sold in a certain period (time to buy again message)

• Non-owner occupied (Owners may be investors or landlord may want to sell)

• Out of State Owners (May be looking for additional properties or to sell properties)

• Street Address

Aerial Photo Locator Map Radius Mailing Map Zoning Map

See your Marketing Representative for a detailed list of services and applicable costs.

Data provided in your preferred format:PDF Color CopyEmail Excel Spreadsheet Label-Ready Map Overlay

Demographics and comparable market analysis also available

Aerial Photo Tax Lot Map















• Street Address





Zoning Map Flood Map















• Street Address





Locator Map

Prospecti ng & Map Tools

www.amerititle.com







What Is Title Insurance?


Different from other types of insurance that protect you against losses that may happen in the future, title insurance protects you, the insured, from matters or faults that occurred in the past that may affect your property.

Close scrutiny by the title company of property related recorded documents aids in the elimination of many possible hidden risks that can undermine the validity of title ownership. While the possibility of unidentifi ed risks still exist after a transfer of title, the purchase of title insurance policies protect the lender and buyer from many types of claims made against the title to a property, such as encumbrances and liens.

Types of ALTA (American Land Title Association) Policies

In general, there are two basic types of title insurance policies:

• Owner’s Policy• Lender’s Policy

Owner’s Policy: An owner’s policy helps protect your rights as the homeowner for as long as you or your heirs own the property. Typically, the seller purchases the owner’s policy for the buyer.

Lender’s Policy: When you get a mortgage loan, your lender will require title insurance. A lender’s policy protects the bank or lending institution for the life of the loan. Typically, the lender’s policy is paid for by the buyer/borrower.

Either type may be in the form of standard or extended coverage.

www.amerititle.com







What Is Escrow?


An escrow, sometimes referred to as a closing or settlement, is an arrangement in which an impartial third party called an escrow holder, holds legal documents and funds on behalf of a buyer and seller and/or lender. The funds are distributed and documents are recorded only in accordance with the written instructions re-ceived from the parties, thus completing the transaction.

People buying and selling real estate often open an escrow for their protection and convenience. All parties rely on the escrow holder to faithfully carry out their mutually consistent instructions relating to the transaction or to advise them if any of the instructions are contradictory or cannot be completed.

Once all the terms and conditions of the written instructions of all parties have been fulfi lled, and all closing conditions satisfi ed, the escrow is closed and the transfer of property and money is accomplished.

Escrow Service Features:

• Immediate order confi rmation• Continuous transaction monitoring and reporting• Timely preparation of instructions, closing documents and amendments• Rigorous quality control measures to ensure accuracy• Coordinated closings• Verifi ed disbursement of proceeds

For more in depth education on title and escrow, please ask for a Title & Escrow 101 class.

www.amerititle.com







Buyer and seller sign the Purchase

and Sale Agreement.

Escrow is opened with the title and escrow company and

the earnest money is deposited.

Title provides any additional document copies and provides assistance to

escrow in title clearance as needed.

Escrow schedules closing with appropriate parties and conducts the

signings with the buyer and seller.

Transaction is complete! Title issues the appropriate

title policies for the transaction.

Escrow delivers the executed loan package back to the lender (if applicable). Lender

reviews, approves and orders the funding.

Escrow receives the loan package from lender (if applicable); prepares closing documents and settlement statements and provides documents to all parties to review.

Escrow receives funds and instructions to record documents

and disburse the transaction.

Escrow disburses the transaction in accordance with instructions

and the settlement statement.

The Life of Your Title and Escrow Transaction

Title is opened. The title officer completes the search; examines title; prepares the preliminary title report/title commitment; reviews and sends the

preliminary title report/title commitment to the appropriate parties.

Escrow receives and reviews the preliminary title report/title commitment

to clear title (obtains payoffs, etc.).

Title receives recording package from escrow. Title reviews all recording documents and dates down the preliminary title report/title commitment.

Title records the necessary documents when given the OK to record.

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In an effort to provide consumers with adequate time to review their loan documents prior to closing, lenders are required to complete and deliver the Closing Disclosure to the consumer at least 3 days prior to consummation.

Sunday Monday Tuesday Wednesday Thursday Friday Saturday

1 2 3 4 5 6 7

3-day* delivery period(Delivery of Closing Disclosure via mail, email or other electronic delivery method)

3-day* waiting period(Consumer reviews the Closing Disclosure and contacts their lender with questions)Consumer receives

Closing Disclosure

3-day* rescission period(Applies to refi nances only)

8 9 10 11 12 13 14

NOTE:

*Excluding Sundays and Federally-recognized holidays

First day CLOSING can be scheduled

and disbursements can be issued on

purchases or some refi nances

First day disbursements can be issued for most

refi nances

*Delivery of Closing Disclosure via mail, email or other electronic delivery method

Send* Receive Close

3 Days

3 Days

Monday

Tuesday

Wednesday

Thursday

Friday

Saturday

Monday

Tuesday

Wednesday

Thursday

Friday

Saturday

Thursday

Friday

Saturday

Monday

Tuesday

Wednesday

Need to know when a closing can be scheduled? Our handy TRID GRID can help!

• The lender will advise AmeriTitle as to what day the consumer can sign the loan package.• Changes in the Closing Disclosure due to loan type changes, prepayment penalties or APR will require re-disclosure

and a new 3-day waiting period. Only the lender will determine if a new 3-day waiting period is required.

TRID Grid


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At AmeriTitle, we take pride in providing the best overall closing experience for our agents, lenders and their customers. To help make your next transaction as smooth as possible, review these useful tips.

Provide the following to your escrow team:

• The completed and signed Earnest Money Agreement (EMA). (Be sure the EMA is legible.)• All addendums to the EMA. • A commission verifi cation form. • Phone numbers, email addresses and/or fax numbers for your clients and/or the lender

they are using.• Any additional insight or information regarding your customer(s) that may help make the

process go smoothly the day of closing, such as your customer(s) need for a translator; they are visually, audibly, or physically impaired; require separate signings due to an unamicable divorce scenario, etc.

• Homeowners association contact information.

Other suggestions:

• Carefully review the preliminary title report/title commitment. Should you have questions or concerns regarding the document, contact your escrow team right away.

• Encourage the seller to: - Provide payoff authorizations promptly. - Review their state withholding requirements with their accountant (if applicable).

• Encourage the buyer to: - Shop for the best homeowner’s insurance rates and options promptly. - Notify your escrow team immediately should an issue or problem arise before the closing date.

Always remember that while we will do everything we can to ensure that your customers have the best overall closing experience with AmeriTitle, your escrow team is a neutral third party and cannot represent the buyer or seller or negotiate on their behalf.

Tips For a Smooth Transacti on


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Who Pays for What?


The buyer customarily pays for…

• Lender’s title policy premiums

• Escrow fee - 50%

• Recording charges for all documents in buyer’s name

• Tax proration (from date of acquisition)

• Home Owners’ Association prorates and transfer fees

• All new loan charges (except those required by the lender for seller to pay or otherwise negotiated between buyer and seller)

• Fire insurance premium for the fi rst year

• Owner’s title insurance premiums

• Escrow fee - 50%

• Real estate commission

• Document recording and release fee for deed of reconveyance

• Any loan fees required by buyer’s lender

• Payoff of all loans in seller’s name or against the property

• Interest accrued by lender being paid off, statement fees, reconveyance/release tracking fees and any prepayment penalties

• Any judgments, tax liens, etc. against the seller, including the cost of recording the release document.

• Any and all delinquent taxes

* AmeriTitle has provided this information for the purpose offamiliarizing our clients with closing costs on a typical salestransaction in the states where AmeriTitle operates. Chargeson your particular transaction may vary. AmeriTitle assumesno responsibility or liability for reliance upon the informationcontained herein.

The seller customarily pays for...

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Through the process of a closing, your escrow offi cer will prorate property taxes to the date of the closing. The seller is responsible for the property taxes from July 1st to the closing date. The buyer is responsible for taxes from the closing date through June 30th. If the buyer is including taxes in their mortgage payment, the lender may collect reserves to pay the taxes on the buyer’s behalf when they become due.

• The seller pays the property taxes for each day they own the home. • The buyer pays the property taxes for each day they own the home. • Your escrow of� cer will make sure this is properly calculated.

The property tax year is July 1 through June 30

August September October Novem

ber December January February M

arch

Apr

il

May

June

July

Example: Closing date is March 15

Annual tax bill is $1,200 (July 1 through June 30)

$1,200 divided by 365 days = $3.2877 per day

March 15 through June 30 = 108 days

108 x $3.2877 = $355.07 charged to the buyer

Taxes become due and payable on November 15

Oregon

Understanding Property Tax Prorati ons for Oregon

This information is specifi c for Oregon only. Property tax due dates vary from state to state.

www.amerititle.com







Through the process of a closing, your escrow offi cer will prorate property taxes to the date of the closing. The seller is responsible for the property taxes from January 1st to the closing date. The buyer is responsible for taxes from the closing date through December 31st. If the buyer is including taxes in their mortgage payment, the lender may collect reserves to pay the taxes on the buyer’s behalf when they become due.

• The seller pays the property taxes for each day they own the home. • The buyer pays the property taxes for each day they own the home. • Your escrow of� cer will make sure this is properly calculated.

The property tax year is January 1 through December 31

August Septembe

r

Oct

ober

Nov

embe

r

Dece

mber January February March April M

ay June July


Annual tax bill is $1,200 (January 1 through December 31)


January 1 through March 15 = 74 days

74 x $3.2877 = $243.29 charged to the seller

Taxes become due and payable on April 30 each year

Washington

Taxes also become due and payable on October 31 each year

Understanding Property Tax Prorati ons for Washington

This information is specifi c for Washington only. Property tax due dates vary from state to state.

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Through the process of a closing, your escrow offi cer will prorate property taxes to the date of the closing. The seller is responsible for the property taxes from January 1st to the closing date. The buyer is responsible for taxes from the closing date through December 31st. If the buyer is including taxes in their mortgage payment, the lender may collect reserves to pay the taxes on the buyer’s behalf when they become due.

The property tax year is January 1 through December 31

• Buyer or buyer’s lender (through the reserve account) will pay the tax bill in December. • The seller pays the property taxes for each day they own the home. • The buyer pays the property taxes for each day they own the home. • Your escrow of� cer will make sure this is properly calculated.

A

ugus

t

Sep

tem

ber

O

ctobe

r

November December January February March April May June

July


Annual tax bill is $1,200 (January 1 through December 31)


January 1 through March 15 = 74 days

74 x $3.2877 = $243.29 charged to the seller

and credited to the buyer

The � rst half taxes become due and payable on December 20.

The second half taxes become due and payable on June 20 of the following year.

Idaho

Understanding Property Tax Prorati ons for Idaho

This information is specifi c for Idaho only. Property tax due dates vary from state to state.

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client resource guide - amerititle client...client resource guide ... blaine e m to n adison canyon...

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