Pitfalls That Can Cancel a Closing (On Closing Day)

You’ve been assigned your date, time and location for your property transaction closing, but you’re not in the clear yet! There are still some things that can compromise the closing and prevent it from happening. Heed this warning and make sure you or your clients do not fall victim to these issues:   Power of […]

Title Insurance Q&A

Q: Does it make sense to get title insurance on a condo that was recently built if you intend to pay for it in cash? A: Absolutely. Title Insurance will defend against all potential claims going forward for as long as you own the property. It’s really a small, one-time price to pay to avoid […]

Bitcoin and the Real Estate Industry

Recently, a real estate agent asked me if she should be marketing her listing by including the fact that the seller is willing to accept Bitcoin.   If you don’t know what Bitcoin is, the simplest definition I can come up with is that Bitcoin is a digital currency and it, along with other cryptocurrencies, are […]

How Blockchain Technology Could Change the Real Estate Industry

In the simplest terms, blockchain is the ability to remotely share databases and processes, making them more centralized and accessible. For the real estate industry specifically, this could transform the industry by making it more modern and efficient. One such way is accessing the MLS Property Data system. Every real estate transaction goes through the […]

How To Ensure Your Real Estate Closing Happens on Schedule

When a title company is contacted to facilitate the closing for a property transaction, there is a great deal of information that they must gather in order to accurately allocate all monies and ensure that the documents reflect the most current, up to date and accurate information. One of the first things we do here […]

Improvident Transfers Act

Elder abuse cases often highlight the reality that the same frailties and vulnerabilities that make older clients easy victims, also make them imperfect witnesses and poor advocates for themselves. The state of Maine, however, has taken a unique approach in protecting its elderly from financial exploitation. In 1987 a group of lawyers advocating for financially exploited elders […]

Title Insurance and Refinancing Your Home

Unless you paid cash for your home, then you most certainly were required by your lender to purchase a lender’s title insurance policy when you bought your home. If you refinance that home, your lender will again require you to buy a new lender’s title policy. There are a few reasons for this. Each time […]

1 Phish, 2 Phish…

We’ve explained in the past how wire fraud – and other types of banking related fraud – are becoming widespread these days. Well one of the ways criminals are achieving this is through “phishing” scams. The term “phishing” is fairly broad. Some are somewhat harmless internet rollers, while others are professionals that have become more […]

The Difference Between a Title Agency and an Underwriter

A title underwriter is an entity that authorizes and issues authority for its agents (title agencies, like Cumberland Title), to write title insurance policies. The underwriter assumes the ultimate financial risk as they stand behind the policy and actually insures the property against insurance defects. They also agree to defend the owner of the title […]