One thing a lot of home buyers don’t think about it the title company they will use to close the transaction. People are rightfully honed in on choosing their new home, but forget about chain of titile and how important it is in the home buying process.
Selecting a trustworthy title company is a crucial step in the home buying process. Here are some guidelines to help home buyers choose the right title company:
Read MoreThe real estate market is currently experiencing a period of remarkable growth and high real estate prices, with property prices soaring in many regions. While this trend can bring financial gains to homeowners and investors, it also has far-reaching effects on various sectors of the economy.
Notary work, which plays a crucial role in mortgage and real estate transactions, is no exception. The surge in real estate prices presents both challenges and opportunities for notaries as they navigate the evolving landscape.
Read MoreWould be buyers took another hit this week as mortgage rates continue to climb. Under normal circumstances, housing prices would fall, but low inventory continues to raise prices, as demand is exceeding supply.
Read MoreWe doubt anyone was thinking about student loans a few months ago, except for those that have them. But, they have a looming effects on the housing market, already hit hard by high interest rates.
Look back to the pandemic. Extreme measures were implemented to ease the economic suffering of so many people. In that regard, payments for federal student loans have been frozen.
And that is about to change. At the beginning of October the freeze ends and potential home buyers will see another bill coming their way.
Read MoreEffective leadership requires a combination of skills and qualities that enable individuals to guide, motivate, and inspire others to achieve common goals and objectives. These essential and effective leadership skills include:
Remember that effective leadership skills are not about mastering each skill perfectly, but continually developing and refining these skills to suit specific situations and contexts. Great leaders are adaptable and always open to growth and improvement.
Increase your efficiency and bottom line with Sunshine’s Mobile Notary Services and Online Notary Services. Sunshine is always there when you need us.
While inventory on the housing market is still at historic lows, they have reached the highest they have been so far in 2023. While there are 10% less houses on the market compared to this time last year, current inventory is now 1% higher than it was just one week ago.
This arises in the face of still rising interest rates, which are expected to raise rates. This is according to the Altos rule.
To understand the future of housing inventory in this country remember the Altos Rule. The Altos rule says that the more available inventory of homes to buy is the result of higher mortgage rates. If rates climb, so does inventory. If rates fall, inventory will fall.
Housing Wire
Summer is known for raising inventory, which usually peaks in August, but which is now expected to grow until September. There are now just under 500,000 single family homes on the open market. Houses on the open market is raising at a faster rate than it was at this time last year.
There are now just under 365,000 homes under contract. This flies in the face of interest rates that are the highest they’ve been in twenty years.
Even in the face of rising interest rates, home prices are still rising. In fact, housing prices are still rising in 99 of the 100 biggest markets.
But, 35% of homes on the market have seen price reductions since being listed. So, even though prices are rising, in many cases they are not rising at the pace sellers hope they are.
And we can see it in the home price reduction data too. Price reductions are about to inch above 2018 and 2019 again. 35.5% of the homes on the market have had price reductions. Price cuts always tick up late in the summer, and this year’s seasonal increase is speeding up just a bit with the recent higher mortgage rates. Each week we have slightly fewer buyers, making slightly fewer offers, so slightly more sellers cut their asking prices.
Housing Wire
So, as we stand in the face of rising interest rates, there are some positives. Negatively affected are younger, first time home buyers, who are increasingly being priced out of the market.
During the 2007 crash, many first time home buyers felt compelled to buy their home before prices rose even higher. This led to many foreclosures among that group. With record high home prices, it remains to be seen if that will happen again, or if potential first time home buyers will just stay out of the housing market.
Since, historically, real estate has been one of the best investments, the pressure of rising housing prices may negatively affect this group, and the larger market, in the long run.
Increase your efficiency and bottom line with Sunshine’s Mobile Notary Services and Online Notary Services. Sunshine is always there when you need us.
Congratulations, you just got your first signing!
Now is when you set yourself up for success to ensure your first signing goes smoothly and provide your client(s) with a great experience. Positive feedback from signers, Title and Signing Services will be a crucial part of your self-advertising and using the following tips and tricks will practically guarantee your next job.
It cannot be said enough that reading your instructions will make or break your first signing. Do not skim the information provided. New policies and practices are introduced frequently in this industry and taking the time to confirm what is needed on each document(s) will only benefit you in the long run. Reading your instructions will also answer some of your most common questions: Print size, ink color, are witnesses needed, does your first signer need a copy, shipping instructions, etc.
First impressions matter and greatly influence the overall signing experience. Keep in mind, you are a stranger meeting them to notarize confidential documents. A professional conversation over the phone confirming the time, date and location of the signing gives you the opportunity to introduce yourself and go over any other important details. You have set the foundation for your signing relationship which will lead to a better overall signing experience for you and your first signer.
This is your first closing or maybe it is a signing you have never done before. Either way, reviewing the docs before going to the table is always recommended. Taking this time to familiarize yourself with the signature and notarization requirements will limit the chances of something being missed during your first signing. You could even go so far as to tag the package with removable sticky notes to make the signing process simpler.
Make sure your docs are printed according to instructions and you have all the supplies you might need as a notary. This includes your notary journal, notary stamp, additional acknowledgements and jurats, extra pens in both black and blue. Additionally, make a note of the correct contact numbers for title or the lender to have any questions answered at the table as well as the contact information for the company or service who hired you to conduct the signing.
Going back to first impressions, not many would consider their attire in these kinds of situations. But, if you think about it, you are representing the title company, lender and even the signing service when you arrive to location. All of which are professional businesses that the signer has been in contact with frequently. This means they will be expecting the same in the representative sent to conduct their signing. Business casual or business dress is highly recommended to portray that level of professionalism.
Shake their hand, provide your business card and reintroduce yoursel. Then confirm you are in fact the notary sent to them and the person they spoke with on the phone. This provides reassurance to the signer when letting a stranger into their home and reaffirms the professional setting.
Stay on topic as much as possible, but do not fear a little small talk. Providing a comfortable and easy notarizing environment is beneficial both to you as a new notary and your first signer. Help them increase their productivity.
We are all human and we make mistakes, even veteran notaries make errors. Give yourself enough time in your schedule to double check your work at the table. Collect any missing signatures, initials or information while you are still at location. This way you don’t need to return for a correction.
Do not hesitate to review your portion of the docs again as well. Ensure all your notary blocks are properly filled out and notarized to decrease the likelihood of a correction coming back.
The goal of any notary is to provide an enjoyable notarization experience for their signer. And then return accurate documents back to title. Remember you want to set yourself apart and end up being their go to notary. These steps are just a few that can be taken. It is on you to assure your first signing completes without a hitch and boost your confidence going into the next one. Set yourself up for success.
Increase your efficiency and bottom line with Sunshine’s Mobile Notary Services and Online Notary Services. Sunshine is always there when you need us.
No matter your profession or standing in a company, errors are things we all try to avoid.
Our goal as notaries is to send back a completed package with no errors so the transaction is approved with no delays. There are many reasons a document can be rejected by title including: Missing signatures, unclear stamp, incomplete notary block, etc… Here are a few steps to take to reduce the likelihood of errors or catch them before submitting to title.
This is going to be your most important step in reducing errors. To often we see notaries rush a signing to move on to their next closing causing signatures to be missed or items forgotten. Go over each document carefully, ensure there are no blank lines, and all signatures and notary requirements are met before moving on.
Take the time to review the package once completed before you leave location. This way any missed items can be corrected there at the table verses having to schedule another appointment and delaying funding or closing.
A document can be executed perfectly, but still rejected due to an unclear stamp. If your stamp is distorted or faded in any section where your information can be deemed illegible, strike a single line through that stamp, initial the correction, and re-stamp the document. All stamps must be legible on a scan and the original to be approved.
Ensure your notary section is filled out completely. There should be no blank lines on a document for the signer, the same goes for your notary section. We see many notaries who assume that their stamp is sufficient for the notary block but that is not the case for most title companies. To save yourself a possible rejection later, fill out the notary section in full.
Documents can be rejected for something as simple as a missing initial on a correction. No matter who makes the correction on the document, signer or notary, that party must initial the correction to verify that they were in fact the one who corrected it. This includes corrections to state/county in the notary section.
One of the best suggestions we can give you is practice.
Try to complete a few sample packages with a friend or family member so you can practice not only your table side manner, but signature placement and filling out notary acknowledgments. The more signings you conduct, the better you will be at executing a signing with little to no errors.
The signing company is a resource, not just the company that hires you.
Communication is key to understanding and solving problems at the table. Do not hesitate to contact your signing company so they can assist you with getting questions answered or going over a document you are not familiar with. It is better to ask questions than assume and have a correction later down the road.
Increase your efficiency and bottom line with Sunshine’s Mobile Notary Services and Online Notary Services. Sunshine is always there when you need us.
The hope and goal for any signing is a smooth transaction and a likeable signer. We all love these types of signings and cross our fingers for this kind of outcome every time.
But…. this is not always the case.
This article will address how to handle a rude or impolite signer properly and professionally.
Keep in mind that they are more than likely not even upset with you as the notary and more with the situation. Real estate transactions can be a long and tedious process that can take anywhere from a few weeks to almost a year depending on the signer’s circumstances.
They are having to deal with multiple people from the lender to title all the way down to you, the notary. It is easily frustrating, and the smallest thing could be a trigger for impolite behavior.
We all want to feel heard, and our problems validated. A little empathy goes a long way to diffusing an upset client or atmosphere. You understand their position and why this is frustrating, lets find a solution or explanation for the problem.
Often, the signer is upset over incorrect information or figures on their docs. Docs they have been negotiating and working with their LO on for months! Incorrect numbers when they finally see the light at the end of the tunnel can lead to a quick decline in the signer’s demeanor.
Offer to let them speak to their LO or title contact so any questions or incorrect information can be resolved quickly. Providing solutions to their problems and contacting the correct individual quickly goes a long way in decreasing tension at the signing table.
Do not force yourself to stay in a potentially dangerous environment.
An upset or rude customer comes in a variety of levels. While most can be diffused and the signing put back on track, there will be those few who are unwilling to work with you. Your safety should always come first, meaning if a situation continues to escalate and your attempts to help them or find a solution have not produced the desired result, excuse yourself and offer to reschedule at a later date. Contact title or the signing company who contracted you to explain the situation so they can address the signer directly.
These kinds of situations can be unpleasant, and they are never the types of signings we want at the end of the day. However, by using the above tips and trying to keep in mind their side of the story, practically any situation can be resolved where everyone leaves the table with a smile.
Increase your efficiency and bottom line with Sunshine’s Mobile Notary Services and Online Notary Services. Sunshine is always there when you need us.
What are two factors that we all share in our job as a mobile notary?
While these two things are par for the course for all notaries, our goal in this post is to provide a few tips and tricks to help you stay safe on the road and encountering new people in their home.
There is always a risk in going to a new location, but in following these few steps we are hoping to provide you with the tools and knowledge needed to keep you safe during your signings.
While these few points do not cover all the potential situations you may encounter on the job, they lay a foundation for risk prevention and increase your awareness of possible situations to prepare for.
Sunshine has always put the safety and well being of our notaries first and we encourage all notaries to contact us with any potential safety issues or concerns so we can be another added safety measure.
Increase your efficiency and bottom line with Sunshine’s Mobile Notary Services and Online Notary Services. Sunshine is always there when you need us.
