Title
-Existing liens
-Unpaid mortgage
-Recording errors
-Names
-Addresses or legal descriptions
What is your Escrow Officer's #1 priority during your transaction?
a. The agent
b. Fraud protection
c. Protecting the lender's interests
d. Risk management for Ticor
What is Earnest Money, during a real estate purchase?
a. Security deposit
b. Written agreement for future payment
c. Full payment or purchase money
a. Security deposit
TRUE or FALSE:
Title insurance protects you just like other types of insurance purchased; such as auto or home.
FALSE
Most insurance is purchased in terms of future loss.
Title insurance provides insurance for future claims or losses due to title effects from the PAST.
TRUE or FALSE
Escrow is a neutral account that carries out mutual instructions of all parties.
TRUE
But what is ESCROW?
When a loan is funded, Ticor will record the Deed of Trust. At this time, the transaction is complete?
TRUE or FALSE
FALSE
After Ticor receives notification of recording, THEN we will disburse funds to the appropriate parties. At THIS TIME, your loan is considered complete.
How many years of experience does Ticor have in their Lebanon, Corvallis and Albany offices?
a. 274
b. 221
c. 109
b. 61+72+71+17 = 221
In 2017, what was the average cost of a single family residence in Dublin?
a. $581,700
b. $263,450
c. $361,742
At the time of completion, there are two types of policies that are routinely issued for a real estate transaction. Name those policies.
TRUE or FALSE
Escrow officers, like attorneys can advise and practice law.
FALSE
We cannot advised nor instruct. We are a NEUTRAL third party.
During a real estate transaction, does signing and closing mean the same thing?
YES or NO
What year did Ticor issue it's first policy in Oregon?
a. 1908
b. 1938
c. 1898
a. 1908
TRUE or FALSE
Green has always been the color of St. Paddy's Day.
FALSE
Saint Patrick himself would have to deal with pinching on his feast day. His color was “Saint Patrick’s blue,” a light shade. The color green only became associated with the big day after it was linked to the Irish independence movement in the late 18th century
YES or NO
Samantha's buyers needs $500.00 to make a transaction work. Can Ticor discount their fees to assist this home buyer?
NO
Who can choose your Title Company?
a. Your agent
b. YOU the consumer
c. Your lender
d. The county in which you buy
b. YOU the consumer
Who normally chooses? Your Agent.
What is PMI?
Every year, OUR local Ticor operation gives back to our communities. Approximately how much was donated in 2017?
a. $50,000
b. Over $100,000
c. Just under $100,000
b. Over $100,000
Speaking of "Pot" of Gold....
What counties grow over 65% of Oregon's marijuana?
a. Linn and Benton
b. Josephine and Jackson
c. Coos and Lincoln
b. Josephine and Jackson
What is the #1 cause for title insurance claims?
a. Property lines
b. Fraud
c. Hidden liens and judgements
What is the C.F.P.B?
a. Client Fraud Protection Bureau
b. Consumer Financial Protection Bureau
c. Credit Finance Publishing Bureau
b. Consumer Financial Protection Bureau
What month does Annual Property Tax Cycle begin?
a. January
b. June
c. July
At the end of your real estate purchase, Ticor will provide you with a Warranty Deed; which is considered a guarantee of marketable title.
TRUE or FALSE
TRUE or FALSE
Ticor can insure commercial real estate marijuana transactions.