Using an experienced title attorney who is thorough and who effectively communicates with each buyer is essential for closing multiple property transactions each year smoothly. Hometown Homebuilder uses Varsity Title as its Preferred Title Company and there are a number of reasons why this is advantageous both to Hometown and to buyers.
Level of Service:
By using Varsity Title, we know the level of service that will be provided for each closing, and we know that there is a competent attorney reviewing the closing instructions and preparing the closing documents. The use of different title attorneys for each of these transactions would create more uncertainty in the closing process for each of the houses sold each year. Varsity has a thorough understanding of the transaction documents and the loan documents and carefully explains the content of the documents which a buyer is being asked to sign. This is a benefit to Hometown and to buyers since Varsity has such an excellent track record of successfully closing these transactions. This same level of service and communication with each buyer should be expected of all closing agents, but it is unfortunately lacking in some closing agents. There are many good closing companies in Louisiana, but using random closing companies for each different transaction creates the risk that a buyer might be exposed to a closing agent who is not as careful to provide the level of service that Hometown believes its buyers deserve. Varsity helps buyers understand what is being signed in the closing documents and is more than willing to further explain any topic or document that a buyer may have a question about whether it is a question during closing or after closing. Varsity can be reached by phone or through the email link above for any question a buyer may have after closing.
Experience with Lenders:
Buyers do not all use the same lender, so a title company must be able to adjust to the different requirements of different lenders. Varsity has proven more than capable in doing so over the years and has experience with closings involving most, if not all, lenders in the state of Louisiana. This experience with the various closing instructions and funding requirements of different lenders allows Varsity to avoid some of the delays that a less experienced closing company may encounter. This experience is helpful to Hometown and to buyers.
Accurate and Prompt Information:
Occasionally, there are delays for getting a closing cleared by a lender’s underwriter for various reasons or delays because a loan file has not been submitted to underwriting for some other reason or there may be some reason that a title company is not able to resolve some condition for closing. If Hometown ever encounters such delays, Varsity promptly provides accurate information about the delay instead of “getting the run around” or not being updated by a closing agent and/or lender with whom Hometown does not regularly do business. Staying informed is helpful to Hometown and to buyers.
Consolidated Source for Transaction Records:
This reason may be fairly obvious as beneficial to Hometown from a general business stand point when transaction records are needed for tax preparation, but it is also beneficial to buyers directly and indirectly. When a buyer contacts Hometown for a copy of a sale or settlement statement, the buyer can be quickly referred to Varsity for that copy or Hometown can just forward the request to Varsity. The use of random title companies throughout the year would not allow such efficiency. The buyer who needs such copies is benefited directly, and all buyers are benefited indirectly since Hometown is not bogged down with the inefficiency of researching which title company performed which closing to be able to gather documents for tax preparation or for buyer’s requests.
John Morganti is the title attorney at Varsity Title and he is highly recommended by Hometown for any property transactions you may have even if they are not related to Hometown. John really is an amazing source of information related to property transactions and is more than willing to help you find an answer to questions about your transaction or about immovable property in general.