Few things can throw a wrench in the cogs of a real estate closing like finding out the title isn't clear or marketable.

"Title defects surface more often than most people realize," said Ron Richard, Landmark Title owner.

Landmark Title logo.png

"Investors, house flippers and real estate agents know it because buying and selling is their bread and butter. The average homeowner ­— who owns three, maybe four homes in a lifetime — if that — might not know there is an issue until they're ready to sell or refinance," said Krystal Delaney, Landmark Title. "It's very frustrating for everyone involved."

Krystal.png

According to Landmark Title’s Krystal Delaney the average homeowner might not know there is a title issue until they’re ready to sell or refinance.

The folks at Landmark Title believe every homeowner deserves to know about the importance of a clear title and the benefits of owner's title insurance before they're ready to sell or refinance.

"Last week, we conducted a title search for a re-fi," said Darlene Beard, Landmark Title. "The property owner found out the IRS had a $60,000 lien against a previous owner in her maiden name."

RonRichard.png

"Title defects surface more often than most people realize.” — Ron Richard, Landmark Title owner

"Now he's trying to figure out how to come up with the money to pay that," said Richard. "If he had owner's title insurance, it wouldn't be his problem. It would be the title insurance company's problem. He'd be free to refinance.

The cost of title insurance averages $400 to $1,000, and is dependent on the value of the property, according to Lori Moreau. The cost is built into the purchase price and spread out over the term of the mortgage. It's separate from lender's title insurance, which covers the lender.

"This information is especially timely," said Lesa Higginbotham, Landmark Title. "We're seeing more transactions because of the recent, drastic drop in interest rates. House hunters are motivated to buy and homeowners are selling or refinancing."

Turnaround time
 matters

"They all have one thing in common," said Moreau. "They want to close yesterday."

"We pride ourselves on having the quickest turnaround time," said Richard.

He credits the group he's assembled to make sure that happens, a close-knit group of professionals with 120-plus years of experience in the industry.

"I did 350 transactions last year," said Robbie Ingle, Coldwell Banker/Ingle Safari Realty, and a Landmark Title client. "I did 200 of those with Landmark Title. They are amazing. We can order a title, get it back in 48 hours and we're closing, all within the week."

"They've always responded quickly to anything I've requested of them," said Kaysha Sims, Century 21 Bono. They provide clear and concise communication. There is no confusion, no last minute surprises. All of my dealings with Landmark have been professionally and efficiently handled."

Landmark Title Team

The Landmark Title team is ready to serve you. Joining owner Ron Richard are Lesa Higginbotham, Lindsay Burgess, Toni Stelly, Krystal Delaney, Darlene Beard, Tiawra Levias, Lori Moreau, Shonna Richard, and Rachel Mere.

Understand title issues

How can someone pay for a house for years, only to find out someone else has a claim against it or the property description doesn't correspond to what they think they own? Title defects result because of filing or clerical errors. Previous owners could have fallen behind on child support, IRS or other payments; the debt stays with the property. Long after the passing of a previous owner, an heir could come forward with a legitimate claim against the property. Land improvements can encroach upon the property of another.

These are just some of the examples of how a title issue can stall, postpone or stop a transaction all together. However, these issues can be covered or resolved when the owner purchases title insurance.

"Why wouldn't you want that level of protection after making such a major investment," Richard asked.


 

To find out more, call (337) 477-8782 or visit them at 1 Lakeshore Dr., Ste. 120. Find us online at landmarktitlelc.com.

More from this section

Walk into the latest "superstore" with a question about the best products, equipment and process to make your floors look like new again … how to banish a lingering odor … methods to mitigate mold … or solutions formulated for disinfecting the home, business or industrial site against the no…

For most of us, there was a moment in high school when our moms or dads sat with us at the kitchen table to explain how a checking account works, or maybe a home economics teacher shared a lesson on the basics of household money management.

The life and passing of Mike Harmison, CEO and president of Lakeside Bank, has impacted all who knew him, especially Lakeside Bank co-workers, staff and board of directors, according to Justin Holt, Lakeside Bank Executive Vice President.

Southwest Louisiana residents who plan to celebrate Valentine's Day by giving the gift of jewelry can find fine, affordable, Louisiana-designed and fun pieces at Legacy Jewelers (formerly Bodin's and across from Home Goods). Owner Kimberly Griffin has stocked plenty to set her store apart, i…