Episode Transcript
[00:00:02] Speaker A: That was pretty close.
[00:00:03] Speaker B: I'm trying to get to the whiskers.
[00:00:05] Speaker A: Hey, everybody. Welcome to Real Estate Makes us drink. We're happier here. I'm Brian Quinlan from Daniels Real Estate.
[00:00:12] Speaker B: Brad Nickup from NAS Mortgage Group.
[00:00:15] Speaker A: And we have yet another local Indianapolis guest. Indianapolis Southside. We'll go with Indianapolis. That's our general area. Ma'am, please introduce yourself. It makes you sound old, doesn't it?
[00:00:27] Speaker C: Hi, guys. I'm Lauren Davis with Denali Title. We're located in Franklin, Indiana, and we do have an office in Fishers as well, but primarily out of Franklin.
[00:00:37] Speaker B: She did so good. We fail at that every time. But we only say, like, we're in the mortgage business, in the real estate business. Then we forget the whole rest of the show and we never tell people to call us. Yeah, like you put it right out there.
[00:00:50] Speaker A: Like, that's right.
[00:00:51] Speaker B: You been practicing?
[00:00:52] Speaker C: Yes.
[00:00:52] Speaker B: That's fantastic.
[00:00:53] Speaker C: Whole way here.
[00:00:54] Speaker A: She did tell us pre show that she did watch a previous episode. So she's done her research and first podcast.
[00:01:00] Speaker B: First time you ever done this?
[00:01:01] Speaker C: First podcast?
[00:01:02] Speaker B: No. But you've been on TV a lot and stuff, right? You've done a lot of.
[00:01:05] Speaker C: Only at a Reds game. And that wasn't my best moment.
[00:01:09] Speaker B: Let's just say that was like a kiss cam or something.
[00:01:11] Speaker C: No, there was.
One of the broadcasters came out to outfield because the game was kind of dead and somebody dared me to go sit next to them. I did not realize that they were live at the moment.
Might have had a couple of drinks.
[00:01:30] Speaker A: Did you flash them?
[00:01:31] Speaker C: No, I didn't. Thank God, because my mom was watching.
[00:01:35] Speaker A: Oh, well, thank goodness.
[00:01:36] Speaker B: Well, there's a delay. Yeah.
[00:01:38] Speaker C: All of a sudden my phone starts ringing. They're like, are you sitting out now field? Yeah, yeah, no, I'm sitting next to gym day, so. Wow.
[00:01:47] Speaker B: That's pretty awesome.
[00:01:47] Speaker A: That's fantastic.
[00:01:48] Speaker B: That's a good moment.
[00:01:49] Speaker A: Before we get too much farther. Cheers.
[00:01:52] Speaker B: Cheers you.
[00:01:53] Speaker C: Cheers.
[00:01:53] Speaker A: Cheers to you.
[00:01:54] Speaker C: Our special guest can't reach that far again.
[00:01:56] Speaker A: You guys with your T. Rex arms.
[00:01:59] Speaker B: Oh, that smells good.
[00:02:00] Speaker A: You two have the same drink or. No, don't switch. Okay. What do you got, Brad?
[00:02:05] Speaker B: Well, I figured since I was wearing a Costco ween shirt, I would go ahead and pull down the best Costco I have on my shelf. It's their extra anejo. It's absolutely amazing. Picked this up when we were actually at Cascal Wing.
[00:02:17] Speaker A: Well, fantastic.
[00:02:19] Speaker C: Yeah.
[00:02:19] Speaker A: My beer today is specially chosen for my friend Lauren. It is Kirkwood Crema from Indiana and the Bloomington Brewing Company specially chosen along with my Indiana University sweatshirt because my friend Lauren is a Kentucky fan.
[00:02:39] Speaker C: Go Cats.
[00:02:41] Speaker B: You know what IU and Kentucky have in common? Now they both legally pay their players.
[00:02:46] Speaker A: Well as they can.
I'm sure I've asked you this before, but for the. For the podcast documentary here. How the hell are you a Kentucky fan and you live here?
[00:02:57] Speaker C: Well, it gets even worse because I'm actually from Ohio.
[00:03:00] Speaker B: Oh, goodness.
[00:03:01] Speaker A: Great disappoint.
[00:03:02] Speaker B: There's really no, like, Cincinnati.
[00:03:04] Speaker C: Yeah.
[00:03:05] Speaker A: Okay.
[00:03:05] Speaker B: That. Yeah, you got room there. That's Kentucky's close.
[00:03:08] Speaker C: Fans actually in that area because it's just so close. I mean, Lexington is what, an hour and a half from Cincinnati?
[00:03:14] Speaker B: You're just a bridge away from Kentucky.
[00:03:16] Speaker A: Well, correct.
[00:03:17] Speaker C: Yeah.
The. There's no real cool answer. My parents were really cheap and they didn't get cable until I was in high school, so the only basketball that was on in my house was whatever CBS was.
[00:03:31] Speaker B: Oh.
[00:03:32] Speaker A: Which at the time was Kentucky.
[00:03:33] Speaker C: Which at the time was a hundred percent Kentucky. So I just kind of, like, learned to love them for no other reason than that. But none of my family's Kentucky fans. Like, I carry that alone.
[00:03:45] Speaker B: And not having cable works. It worked for J.D. vance.
[00:03:48] Speaker A: There you go. He's done.
[00:03:50] Speaker B: Okay.
[00:03:51] Speaker C: I think I've done okay.
[00:03:52] Speaker B: I've done fantastic.
[00:03:54] Speaker A: Except that I keep seeing you on Facebook with your Kentucky gear on.
[00:03:57] Speaker C: I can go grab my hoodie off.
[00:03:58] Speaker A: Those are. Those are the ones I quickly scroll by.
[00:04:01] Speaker B: Do you have a thing against people who like Kentucky?
[00:04:03] Speaker A: Well, there's. There is a kind of an IU Kentucky basketball rivalry.
[00:04:07] Speaker C: Yeah.
[00:04:07] Speaker A: It is the thing. Yeah.
[00:04:09] Speaker B: They. Who. But who has.
Here's my question. Who has more penance hanging in the building? Oh, yeah, Kentucky does.
[00:04:17] Speaker A: Well, I actually.
[00:04:18] Speaker B: Oh, yeah. Before I came today, I had to because Rick Patino.
[00:04:22] Speaker A: Well, no, Rick Patino only won two.
[00:04:25] Speaker B: Okay.
[00:04:25] Speaker C: Tubby Smith.
[00:04:27] Speaker B: Oh, I forgot about Tubby.
[00:04:28] Speaker C: Yeah.
[00:04:29] Speaker A: They have 13 national championships.
[00:04:30] Speaker B: And what side you have five. Oh, wow. Yeah. Are you. Sucks.
[00:04:34] Speaker A: Well, they weren't any good till the 80s. Well, no, I guess late mid-70s.
[00:04:38] Speaker B: Ah. Can I make a political comment? Sure. I would like Donald Trump to make 1992. Bobby Knight the press secretary.
[00:04:50] Speaker C: Bobby Knight fan. If I am too. It does principle. I think that coaching should go back to holding the player accountable. Um, so I'm. I'm. I'm a. Probably.
[00:05:01] Speaker B: Would he not be the best press secretary?
[00:05:04] Speaker A: Oh, man. It'd be like you ask me what, comical every time.
I've already answered that question.
[00:05:11] Speaker B: Yeah.
[00:05:11] Speaker A: I've already answered.
[00:05:12] Speaker B: Ask and answer.
[00:05:13] Speaker A: That's right.
[00:05:14] Speaker B: You are an effing idiot.
[00:05:18] Speaker A: Exactly. One thing we haven't said yet. This is YouTube. Hit that subscribe button when Lauren says something really funny. And maybe she already has. Hit the thumbs up button because we appreciate that. Leave us a comment, Share the episode. And we're on other platforms besides YouTube.
[00:05:34] Speaker B: Single podcast platform you can find.
[00:05:37] Speaker A: Did you know that?
[00:05:38] Speaker C: I didn't.
[00:05:38] Speaker A: You could listen to us in your car.
[00:05:40] Speaker B: It's like 16 different places to get your podcast. So wherever you get your podcast, get this one next.
[00:05:46] Speaker A: Next time I close a Denali title in Franklin, one of my favorite places to close houses. By the way, I do expect you and Athena to be listening to the podcast in the office.
[00:05:55] Speaker C: Yeah, no, we'll just play it as the closing is going.
[00:05:58] Speaker B: Yeah. I do appreciate people drinking while they watch and listen to the podcast, but it does.
[00:06:02] Speaker A: Maybe not while driving.
[00:06:03] Speaker B: Way you drive to work in the morning.
[00:06:04] Speaker A: It does.
[00:06:05] Speaker B: Maybe you just.
[00:06:06] Speaker C: Only if you get caught. Right.
[00:06:07] Speaker B: Put the Bailey's in the coffee.
[00:06:09] Speaker A: We're not encouraging any of this.
[00:06:11] Speaker B: No, we don't encourage anything.
So to answer their question, they're going to ask what you're drinking. It is a pineapple, coconut water guacamaya tequila.
[00:06:21] Speaker A: I'm sorry. I was excited by my IU apparel.
[00:06:23] Speaker B: You know the beauty to that tequila you're drinking? It's 108 proof and you wouldn't know by tasting.
[00:06:29] Speaker C: Good, Good. So don't get a second. Is what you're saying correct? Yeah.
[00:06:32] Speaker A: Yes.
[00:06:32] Speaker B: I would never encourage not getting more.
[00:06:35] Speaker A: Well, we have to drive home. You just have to wobble yourself.
[00:06:39] Speaker B: I just. That stairwell is crooked. It's hard to walk up.
[00:06:43] Speaker A: I bet it is.
[00:06:44] Speaker B: Yeah.
[00:06:44] Speaker A: You hop on Lucy's back and she carry up.
[00:06:46] Speaker B: She carries me up there. Yeah.
[00:06:47] Speaker A: Such a good dog.
[00:06:48] Speaker B: Ride the big dog up there.
[00:06:50] Speaker A: All right, Lauren. Well, let's get to it.
You are the president of Denali Title for all of Indiana.
[00:06:59] Speaker C: Yes.
[00:07:00] Speaker A: Which includes how many offices?
[00:07:01] Speaker C: We have two offices, so. Yeah, but we cover the whole state. So even though we have two offices, we go, you know, from border to border.
I don't personally do those closings because it's more beneficial for me to be at the office, but we do cover the whole state. And when I say we cover the whole state, I literally drove to the Louisville, like, right as you're crossing over, all the way up to Michiana.
[00:07:28] Speaker B: So it's beautiful up there this time of year. No, maybe it is.
[00:07:33] Speaker A: Maybe the leaves are nice.
I Now, I have to say that's one of the things I appreciate about Denali title and why I continue coming back to you all. Because the flexibility with where closing can happen. Because sometimes people can't get to Franklin or Fishers.
[00:07:49] Speaker C: Yeah.
[00:07:50] Speaker A: And so with your company and my friend Heather, we have closed at two different high schools. We have closed in Bloomington.
It's just great with flexibility and, you know, being wherever the customers are. So thanks.
[00:08:05] Speaker C: And I think that just to highlight on that. We don't charge extra for that.
[00:08:09] Speaker A: Exactly.
[00:08:10] Speaker C: So a lot of title companies will still accommodate.
[00:08:13] Speaker B: It's a $150 chart.
[00:08:15] Speaker C: You're getting a trip charge or you're getting an extra closing fee somewhere. And we look at it as. That's what your client needs. Right. Most of them work. So getting off work in the middle of the day is extremely difficult.
[00:08:28] Speaker A: Yes.
[00:08:28] Speaker C: You know, or they have kids, so as soon as they get off, they're going to a sporting event or picking their child up or something like that. So we try to look at that as the client shouldn't be penalized for buying or selling a home.
[00:08:41] Speaker B: Sure.
[00:08:41] Speaker A: That's awesome.
[00:08:42] Speaker B: I just had a closing in a saloon in Rockville.
[00:08:44] Speaker A: Wow.
[00:08:45] Speaker B: Yeah. That was a place that was open.
[00:08:47] Speaker A: That's great.
[00:08:48] Speaker B: It was awesome.
[00:08:48] Speaker A: Did you order tequila while you were there?
[00:08:50] Speaker B: I went to the closing. I don't go to all my clothes. I try to go to every closing. This was a long drive to Rockville.
[00:08:54] Speaker A: Yeah.
[00:08:54] Speaker B: The client was awesome. I met him at a bar.
[00:08:58] Speaker A: Outstanding.
[00:08:58] Speaker B: We met them at a 8 Second Saloon. And they're like, are you going to come to our closing? And I said, oh, man, I'll try. So all the way to Rockville. And then they were like. It said the 36th Saloon.
[00:09:07] Speaker C: I'm like, yeah, I'll be.
[00:09:08] Speaker B: Yeah, I gotta.
[00:09:09] Speaker C: Yeah.
[00:09:10] Speaker A: Did you order tequila?
[00:09:11] Speaker B: I did not. I looked at their offering selection and then I just didn't drink.
[00:09:16] Speaker A: Yeah, it was better.
[00:09:17] Speaker B: I didn't even drive all the way back from Rockville too. That's a long. Have you been to Rockville?
[00:09:21] Speaker A: I have not.
[00:09:22] Speaker C: It's been a minute, but I've. Yeah, I've been there.
[00:09:25] Speaker A: Which direction is Rockville?
[00:09:26] Speaker C: It's west.
[00:09:27] Speaker B: It's west.
[00:09:27] Speaker A: Yeah.
[00:09:27] Speaker B: Way out.
[00:09:28] Speaker A: Okay.
[00:09:28] Speaker B: It's almost where you lived in Illinois.
[00:09:30] Speaker A: Oh, well, not. Okay, got it.
[00:09:33] Speaker B: So I'm going to ask you not. I don't want you to get in the weeds in this. Okay. But as a mortgage person explaining to customers where we close and title insurance and most people have no idea they think that they buy a house and the title gets sent to the bank just like their car.
[00:09:52] Speaker C: Oh, yeah, right. So that conversation a lot.
[00:09:55] Speaker B: So I want you to get in. Not, like I said, I want to get into the weeds because people quit listening if it gets too deep. But talk about two things. One, what a title company does and how that ensures that closing, how that's important for them. And then second. And we'll probably come back because we'll probably ask you questions that'll drive us away from this. But what the heck is title insurance? Those are kind of the two things. So do the closing piece first. And what. How really what that really means to our person, buying a house.
[00:10:24] Speaker C: So when you go to buy a house, you want to know if there's any outstanding liens or judgments on it. So that could be anything from a mortgage to a sewer bill that hasn't been paid or maybe HOA dues. It could be a variety of things, even personal liens that were judgments that they weren't paid. And now it has become a lien against the property.
[00:10:46] Speaker A: Wow.
[00:10:46] Speaker C: So what we do is we get that order from you guys, and we go out to the county, we pull search, and we make sure that there is nothing that would keep the property from transferring. So. And even unpaid taxes. You know, pull that tax bill, make sure all those records are clear. Once we get all that cleaned up and make sure that everything's good, then we get to the closing table. So that's the second half of what we do. That means that we've worked with the lender, gotten all the figures worked out, and all the money's in. So buyer's money, lender's money, and then go through all the closing documents. So we have a closer that sits there and explains what you're actually getting into.
Page by page. Yeah, page by page. You know, these hybrid closings have been great. I love the hybrid.
[00:11:42] Speaker B: We've been doing it for three years.
[00:11:44] Speaker A: And they're great.
[00:11:45] Speaker C: They are fantastic.
[00:11:47] Speaker A: Let's throw a little bit out there. So a hybrid closing, meaning that the buyer has already signed a number of documents electronically with their lender in advance, so that when they get to closing, they may only have 15 or 20 pages of papers, which they don't sign every one of those because a lot of them are multiple page documents. So there's very little to sign. A closing as opposed to a more traditional closing where it's a packet of paper. Oh, my gosh.
[00:12:16] Speaker C: Disclosure.
No one's listening to.
[00:12:18] Speaker A: Yeah, those. Those take you know, 45 minutes to close. Yeah.
[00:12:22] Speaker B: When we first started doing the hybrid closings, I loved it.
[00:12:25] Speaker A: You were probably like a superstar.
[00:12:26] Speaker B: I go to every closing and I love watching the title closure come in when they don't know I'm the lender. And they'll say something like, well, this lender package is gigantic. This is going to take a little while.
So now they say you don't have a lot of loan docs to sign, so this would go fast. I was like, yeah. In fact, you guys, as a title company have a lot of extra forms because now title docs exceed our eight, eight or nine docs for the borders.
[00:12:56] Speaker C: That is, you know, that's legitimate.
[00:12:58] Speaker B: I love it. Like, you guys have a huge package.
[00:13:00] Speaker C: I mean, it honestly just makes the process better. Because when you, when you think about it, the average consumer, like you said, doesn't know what, what they're, what title insurance is, what even.
[00:13:12] Speaker B: Why they're even there.
[00:13:13] Speaker C: The depths of a mortgage, even. They know they have a mortgage payment. But they're not going to sit there and read the eight.
[00:13:19] Speaker A: And I'll say the majority of closings, they don't read all of that. And a good closer is efficient at, okay, here's what this document is. Here's what you're signing. As a buyer, you have the right to sit there and read it if you want. So there's that. And I've had a few people who climb there.
[00:13:40] Speaker B: You don't want to reschedule and give you the package to read.
[00:13:44] Speaker A: A few people have actually sat there and done a fair amount of reading, but for the most part, it's closer says, here's what this document is. Here's the page you sign. And almost always they sign well.
[00:13:55] Speaker C: And I try to paraphrase it and hit the highlights because much like anything else, you lose the interest of someone and you know, you've. You've just wasted everyone's time. Right. So hit the highlights. Make sure they know what they're getting into.
And outside of that, I always ask, do you have questions that maybe I didn't answer? But the biggest thing with that is they're going to want to know when their payment is, what their payment is, and maybe some specifics about the property that even I'm not going to be answering. The seller is going to answer.
So we try to make those. I don't want to say fast because that seems like we would be rushing the situation, but you just want to make sure you're capturing them and hitting the highlights that are Actually applicable to what they need to know.
[00:14:37] Speaker B: Yeah. Yeah. What's the real question? Yeah, I used to use the name of the form as a loan officer, when we had to sign them all in person. I would use the name of the form to explain the form and say, this is the servicing disclosure. It discloses how your loan is going to be serviced.
[00:14:51] Speaker C: And that's not a bad way to go, to be honest, because then if.
[00:14:55] Speaker B: Somebody goes, what's that mean? Well, then I get into the weeds and explain it. But, you know, this. This is a Authorization to release information. This releases all of your information that just flip it and it works in loan application. Now, I don't have to do that because loan applications are all signed online.
[00:15:11] Speaker A: That's awesome.
[00:15:12] Speaker B: Yeah, you just flip. Flip the top.
[00:15:14] Speaker A: So then title insurance was the second question. I think you had covered the first part pretty well.
[00:15:19] Speaker B: Title insurance is important, though. A lot of people don't realize how important.
[00:15:22] Speaker C: They don't even know and thankfully not really had to have it come into play too much. But it's there to protect the buyer against anything that may not have been disclosed. Right. So a lot of times a seller might say, well, I don't have a mortgage. In fact, you do because you had a home equity line of credit that maybe had a zero balance, but that is collateral against the property. So if we don't go and close that out and let's say you forget about it and as the seller, and then you go like, oh, yeah, I have that line of credit, not realizing that it's collateral against the property. You draw against it. And now this person has.
[00:16:04] Speaker A: I literally have that. Yeah, my house is paid off, but I have a HELOC that I don't use as a zero balance. That would come up at closing.
[00:16:12] Speaker C: Yeah, we have to close that out, make sure that that is not tied to the property that's being transferred out. So title insurance protects against. If something like that was missed, let's say we didn't pay that off or close that out. You can file a claim against that, against our underwriter and are, you know, which. Let's hope that doesn't happen. But it's there to protect the consumer.
[00:16:38] Speaker B: So, like, say there's a lien that they missed when the buyer bought the house that's selling it, and it maybe was a really old lien and they didn't know it was there. And then all of a sudden they go to sell their house and they find out this lien from before they bought the house was there. That the title insurance they have from their last closing would cover that as long as the proper searches were done.
[00:16:58] Speaker C: Right.
So, and that's the other thing is it does come down to what is recorded, what's on public record. You know, in our world, if it's not recorded, it does not exist. So a lot of times people are like, oh, well, I had this land contract. Well, if you didn't record it, then you didn't.
[00:17:13] Speaker B: Yeah, you're just a renter.
That's a renter.
[00:17:16] Speaker C: I know you. Yes, you are a renter.
[00:17:18] Speaker B: You have no ownership as far as.
[00:17:21] Speaker C: The real world exists. So what's on public record is what we go by. But a lot of people confuse title insurance with maybe like homeowners insurance. What we protect against is everything that happened prior to where, like homeowners insurance. You're paying to have that protection for anything that's going to happen.
[00:17:41] Speaker B: So I know, I see this a lot. So I want you to dive into this a little bit deep.
Wire fraud and title company wire fraud.
How scared should everybody really be?
[00:17:54] Speaker C: I don't know if scared's the right word. I think if you do your due diligence, then there's not really anything to be afraid of. So we have a process in place where we have a two person verification process for any wire that's going out of our office, which if you know, our office, we have two people sitting in Franklin. Right.
[00:18:14] Speaker A: You and Athena.
[00:18:15] Speaker C: Right. So Athena will do the initial.
[00:18:17] Speaker A: Hi, Athena.
[00:18:18] Speaker C: Hi, Athena. Yeah, she's fantastic, by the way.
I would be completely lost without. But yeah, so she will do the initial verification and then when before I go to physically hit send on that wire, I'm doing another one.
But it's a very real thing. Scammers are out there. They're good, right?
[00:18:38] Speaker B: Yeah. Oh yeah.
[00:18:40] Speaker C: We even had a situation where we did a verification add a one step verification and they got us still.
[00:18:50] Speaker A: Oh, wow.
[00:18:51] Speaker C: We were thankfully able to recoup the majority of that.
[00:18:55] Speaker B: Wow.
[00:18:56] Speaker C: Which again is just very quick acting, realizing that there was an issue. Our bank working with us, the bank even flagged it for fraud.
So everyone's kind of aware of it. But if you just call and verify, I mean, if you look on our wiring instructions, it says in bold, do not send a wire until you have called our office and spoken to someone.
[00:19:21] Speaker A: So. Okay.
From a consumer standpoint, so you're the buyer, you're ready to wire hundreds of thousands of dollars for this transaction?
Well, I guess maybe not. Doesn't matter. You know what?
[00:19:34] Speaker C: I'm saying you're wiring.
[00:19:35] Speaker A: Correct. You're wiring money. And what. What would it look like from their standpoint? What are they getting in their email that looks believable that they're going to wire money potentially to the wrong people.
[00:19:48] Speaker C: So misspellings and partial information on the file are thing two things.
[00:19:55] Speaker A: Broken English.
[00:19:56] Speaker C: Broken English. Yeah.
Or maybe just using a last name instead of a full. A full name. Like when we send wiring instructions, I put our file number. Who's buying, who's selling property address. I take a step forward in the email, in the body of the email that this is the amount that you should be wiring. You need to call myself. If I'm not available, call Athena. So there, there should be keys when we're sending out wiring instructions that would kind of solidify that it's us. But always, you know, honing in on. You should always be verifying. And when people don't say that, I. Yeah, I mean, they're. They're just looking to get. They're just looking to get you right. If there's not a clear path to. You should be paying attention to this. But the half sentences and the not using full file names, those are. Those are huge indicators.
[00:20:55] Speaker A: And the emails look like they're coming from your company in some way, shape or form.
[00:20:59] Speaker B: Yeah.
[00:21:00] Speaker C: Because they can steal your signature.
[00:21:01] Speaker A: Yeah. And your logo.
[00:21:03] Speaker C: Yeah, for sure. You can download a logo. Any. Anybody that's got a website, you can download their logo.
[00:21:07] Speaker B: You know, it's up there. I downloaded the logo.
[00:21:10] Speaker A: You know, one of the things. This is maybe the movie guy in me. But my thought is, okay, so I get this spam.
[00:21:19] Speaker B: Is that a rom com? Yes.
[00:21:21] Speaker A: So I get the spam email that I don't know is spam. Okay. Looks legit. And at the bottom of there is, if you have any questions, call this phone number.
[00:21:29] Speaker B: Wait. And I'm a millennial, so I'm not calling any.
[00:21:32] Speaker A: Well, those who do call. My gosh, you know, let's say they call that phone number, but the phone number leads them to some. The nefarious person on the other end who's like, oh, yeah, that's correct. I mean, you have no control over that, obviously. But that always goes through my head like, well, if they call the number at the bottom, that could be somebody else.
[00:21:49] Speaker C: So that's what happened when we go, wow, okay, that. That was the one step verification.
But there's just certain things that you look for. Like when we're wiring out, you know, we. I get pretty familiar with banks that we're wiring to so different account and routing numbers.
But the average consumer that's wiring to us is not going to know that for sure. They're nervous Nelly. They've never done this before.
So there's a lot of times if there's uncomfortable people, I'm like, call me when you're at your bank and let me verify with your banker.
[00:22:20] Speaker B: That's a great idea. Really good.
[00:22:22] Speaker C: And it kind of just puts them at ease because the person on the other end is also hearing it. It's not them personally making a mistake for something that they don't do every day wiring anything else in this process. I think it's important to remember that we do this every day. Right. But the people that we're working with do not.
[00:22:43] Speaker A: Nope.
[00:22:43] Speaker C: So it might seem like they're asking dumb, you know, dumb questions, but the best thing that we can do is just be patient and make sure that they feel comfortable by the, by the end of the process.
[00:22:54] Speaker B: And if you've ever gone to a bank to wire or something. I have not. And it's a substantial amount of money.
[00:22:59] Speaker C: It is nerve wracking.
[00:23:00] Speaker B: Well, the bank is interrogating you.
[00:23:02] Speaker C: Yeah.
[00:23:03] Speaker B: They're like, well, what are you doing? Well, I'm buying a house. Are you sure you're buying a house? Yeah, I'm closing at this title company. Are you sure you're closing at that title company? Are you sure you want to do this?
Like I did a couple of wires and I was like, no, this is what we're doing and this is where we're wiring it and this is the information and this and the lady was like, why? I really, I don't know that I feel comfortable with this. And I told her, I said, well, it's my money, so I don't care how comfortable you feel.
[00:23:28] Speaker C: But even title company to title company transfers. I get annoyed when other title companies that are wiring to us from like seller proceeds do not call and verify.
Because at any point the instructions that were sent to them, even if I sent them, you know, could have been intercepted.
[00:23:46] Speaker B: Yeah, but you're an established title company and so many closers like you were saying, look at it and know the routing numbers and know the I, I, I wire to them all the time. I it's funny, we'll be at a closing and they're like, what do you want your see that fly lander?
[00:24:00] Speaker A: It's still here.
[00:24:01] Speaker B: I know this fly has been it want, it wants to be a part of the show. We're going to sell sponsorship on Its wings. Yeah. So you'll be the title company. And they're like, do you want a check or a wire? I'm like, well, the wire. Okay, I need your routing number and your account number. And the person's like, oh, I don't think I have that. And the closer's like, who do you bank with? And then like that. Got the routing number memorized. So tell me. You're gonna.
You can't put that out there. You don't put that out there.
It's so funny there. Everybody knows, right? You can Google it.
[00:24:31] Speaker C: Google it.
[00:24:32] Speaker B: And it's fun. I was at one not too long ago, and somebody's like, well, I don't have the routing number. And I was like, it's this.
But if they asked me what my driver's license number was, I'm out better than that.
[00:24:43] Speaker A: Well, I know both of those routing.
[00:24:44] Speaker C: Numbers aren't as bad as account numbers. That's where they get you, you know, like the wire fraud issue that we had, it was 100% the correct bank that it was going to. It was just a cat number.
[00:24:55] Speaker A: Oh, man.
[00:24:55] Speaker B: So at closing, is it better for someone that's a seller, that's got a nice size proceeds, Is it better for them to get that in a wire or a check?
[00:25:05] Speaker C: It's still the safest way to go. A wire, if you're over 10 quickest, too. Yeah. If you're over $10,000, the bank is going to throw you through an interrogation. Basically.
[00:25:16] Speaker B: They're going to.
[00:25:16] Speaker A: They're going to put it on hold for a couple of days.
[00:25:18] Speaker C: Yeah. Like even a week. You know, P and C is like notorious for holding large sums of money for 14 days. You know, you can't get on with your life at that point.
[00:25:29] Speaker B: PNC.
[00:25:32] Speaker A: Probably not coming.
[00:25:34] Speaker B: That's a good one.
[00:25:34] Speaker A: Yeah.
[00:25:35] Speaker B: I was trying to figure out how they probably no caring for their customer.
I don't know.
[00:25:41] Speaker C: And that was just one example, but pretty nasty company. Yeah, There you go.
[00:25:45] Speaker B: Boom.
[00:25:46] Speaker C: Anybody from PNC watching this might not like that, but that's.
[00:25:49] Speaker B: Call my lawyer.
Did he flip? Did you give him the bird?
[00:25:52] Speaker A: I did.
[00:25:53] Speaker B: That's like these tiktoks. The guy's like.
[00:25:58] Speaker A: He just flipped me off.
[00:25:59] Speaker B: I love those.
Wow. We had sidetracked.
[00:26:03] Speaker A: Yeah, we did. Okay, so what I've always pictured title people doing. So you're looking at the background, trying to find all the title information on this house.
Are you contacting the local government? Are you like, are you just googling this? How do you find all they just.
[00:26:22] Speaker C: Google it Right by crystal ball.
[00:26:25] Speaker A: Okay, well that's impressive. Okay. Uh huh.
[00:26:27] Speaker B: Is there a sound that you make when you look at that?
[00:26:28] Speaker A: I just. Do you have, do you have Google for title companies?
[00:26:31] Speaker C: Yeah. You know it? No. So we actually have a local company that we use for searching. So any property with.
[00:26:40] Speaker B: It's Google.
[00:26:41] Speaker C: Yeah, for sure.
[00:26:43] Speaker B: These Bing.
[00:26:44] Speaker C: Yeah.
[00:26:44] Speaker B: Nobody uses Bing. That's correct.
[00:26:47] Speaker C: No one uses Big.
[00:26:48] Speaker A: I don't know why Chad GPT does.
[00:26:49] Speaker C: No.
So they.
[00:26:52] Speaker B: So, so a title search person. That's someone that goes to the county, they are an action and they go look at the records.
[00:26:58] Speaker C: Yeah. An examiner. Title examiner, Title searcher. Those are actual like okay. Descriptions and job names. But physical searching service services does ours and they're amazing. So they're in Franklin, but they cover, you know like an hour radius. Okay. So anything outside of that though, we're actually using our underwriter to go pull.
[00:27:19] Speaker B: Oh no kidding.
[00:27:20] Speaker C: To go pull all that information. So. But we like them because they're local and they're great and I can call them and we get searches back sometime same day, you know, so we like our local guys, but yeah, they're just going to the local recorder's office pulling all those records. Now there are a lot of online options now because everything is indexed online.
[00:27:42] Speaker B: So a couple of even counties like Greene County.
[00:27:46] Speaker C: Even counties like Greene County.
[00:27:47] Speaker B: Wow.
[00:27:48] Speaker A: Boonies.
[00:27:49] Speaker B: Hey, mind you get that stuff on the online.
[00:27:51] Speaker C: So Docs Pop or Tapestry covers the whole state. So I can find a deed, either of those deed or a mortgage pretty easily on either of those platforms. But full searches. Yeah, we want to make sure that those are covered, you know, by our searcher.
[00:28:08] Speaker B: So now if you're feeling like a contestant on Naked and Afraid. Yes. All of your information is available for somebody to find. It's public record.
[00:28:16] Speaker C: Like why are you trying to hide something from me? Like find any.
[00:28:19] Speaker B: You can find everything about you, you.
[00:28:21] Speaker C: Know, anything I want to.
[00:28:22] Speaker B: Yeah.
[00:28:22] Speaker C: When somebody's like that's not me, I'm.
[00:28:24] Speaker B: Like, it actually it is too, but it is. Oh, and by the way, have you.
[00:28:27] Speaker A: And the 10 different names that you've.
[00:28:30] Speaker B: Used and Wikipedia says you're only five.
[00:28:32] Speaker C: One who your mom was like, that's.
[00:28:34] Speaker A: What one of my favorite pages at closing is. Here's, here's your name. And the other like ten options.
[00:28:40] Speaker B: Yeah.
[00:28:40] Speaker A: Your ten aliases.
[00:28:42] Speaker B: Okay, I got one. What's your best closing with that form? Because I, I have one that's an old. I have one that's an old. Like what do they call them a urban legend.
[00:28:53] Speaker A: Okay.
[00:28:53] Speaker B: But I was in the closing, and I've heard other people tell the story, and I'm like, that was my closing. Like, in 2005. Was there what you got?
[00:29:02] Speaker C: So with the signature, name, affidavit, I had a husband and wife signing together.
And, you know, they're kind of just like, joking around and looking at each other's forms, and husband goes, what's that name?
And so she kind of just, like, shuffled the papers. And then he seriously, like, what is that name? So he knew that she had been married before, but not that many times.
[00:29:33] Speaker B: Oh.
[00:29:34] Speaker C: So it got real awkward real quick. And I was like a brand new closer. So I was like, I'm gonna go to the bathroom. I'm just gonna step out for a second. I'm gonna use the restroom. I'll let you guys talk.
But, yeah, she totally, like, did not tell him that she had been married three times instead of two.
[00:29:53] Speaker A: Wow.
[00:29:54] Speaker C: They ended up closing, but I told this story not too long ago, and I was like, I wonder where those people are today.
[00:29:59] Speaker B: Divorce court.
[00:30:00] Speaker C: Yeah, for sure. Like, they probably didn't make it past.
[00:30:04] Speaker A: You know, what's usually a happy day did not turn out to be happy day for those people.
[00:30:08] Speaker B: So mine.
[00:30:10] Speaker A: I have a feeling I know where this is going.
[00:30:12] Speaker B: They laid it out there, and the guy said, I thought you were only married three times and she had five.
[00:30:20] Speaker C: Oh, so very similar.
[00:30:22] Speaker B: So my very distinguished, amazing agent said, because it. The temperature dropped like, 20 degrees in the room, and it got real quiet. And he said, do you guys need the room? And the guy very. It was kind of funny, actually. He goes, nope. We're talking about this on the drive home. That's all he said. And they went to close it, and I believe they're still married today because they, like, he handled it like a champ.
[00:30:47] Speaker C: Yeah.
[00:30:48] Speaker B: And they made a couple jokes about it, and on they went. But you could tell he had no idea.
[00:30:54] Speaker C: Oh, for sure.
[00:30:55] Speaker B: And he looked at that, and he was just like, thought you were only married three times.
[00:30:59] Speaker C: Wow.
[00:30:59] Speaker B: And she said nothing. Like, red flush face, quiet. And he goes, nope. We're talking about this shit on the drive home, and this is what you hope?
[00:31:09] Speaker C: I mean, as the closer situation, you're just like, shit, what am I supposed to do?
[00:31:13] Speaker B: He literally was like, next form. Like, he was like, bring it on. Let's get this done.
[00:31:18] Speaker A: God.
[00:31:19] Speaker C: And it's just like, the worst place, right? Like, you just don't want to be having that conversation at the closing table with some Random person.
[00:31:29] Speaker B: This was a purchase. Oh, there's other people over here, dude. Mine wasn't a refi. Mine was a purchase. They were buying a house together, and he was just like, all right, that's where the realtor goes, do you guys need the room? He goes, nope. And it was like, wow, that's amazing.
[00:31:47] Speaker A: You know what? That's a good story. Let's break for shots. Oh, that was a good time for that. Lauren, being our guest, you get to choose our shots today.
[00:31:58] Speaker C: Anything but bourbon.
[00:31:59] Speaker A: Okay.
[00:31:59] Speaker C: Bourbon.
[00:32:00] Speaker B: Where you have to pick it.
[00:32:02] Speaker C: I don't know what to pick.
[00:32:04] Speaker A: I know there's a lot of choice.
[00:32:05] Speaker B: We did have this. This amazing. Like, if you don't want something super hard, that stuff is really. That stuff is really good.
[00:32:10] Speaker C: Good. Let's do that.
[00:32:12] Speaker B: The long. The. The.
[00:32:13] Speaker A: Oh, the sun beach.
[00:32:14] Speaker B: The sun beach.
[00:32:14] Speaker A: Okay. Well, here we are back similar to our last episode. We've got some beach again.
[00:32:21] Speaker B: And this stuff is like candy, though. It really is so good.
You can get this only in the summertime at Old Smokies.
And a really disappointing thing a couple years ago.
[00:32:35] Speaker C: So I don't like coconut, but that's good.
[00:32:37] Speaker B: They didn't bring it out one year.
[00:32:40] Speaker A: Oh.
[00:32:41] Speaker B: I was down to, like, a bottle. And this was. This was like a go to, like, sipper summertime drink. And it doesn't mix well with anything because it's milky. Yeah. It, like, turns chunky.
[00:32:54] Speaker A: Yeah, we don't want that.
[00:32:55] Speaker B: Yeah. But it's chew it. So what I do, I have a friend that works at Old Smokies. And every once in a while, I'll say, hey, Peyton. Hey, Peyton Keyfaber. I'll say, can you pick me up? Like a case of it. And then. So there's always something here now.
[00:33:10] Speaker A: Very nice.
[00:33:10] Speaker B: Unlike before, when you're like, can you try that? I'm like, no, I'm not sharing.
[00:33:15] Speaker A: Okay.
[00:33:16] Speaker B: But now I'll.
[00:33:16] Speaker A: Thanks for sharing.
[00:33:17] Speaker B: I try to.
[00:33:17] Speaker A: We appreciate that.
[00:33:18] Speaker C: Thank you. Yeah. It was really good, man.
[00:33:20] Speaker A: That's so good. It's like summer in your mouth for real in November.
[00:33:24] Speaker B: You know the best thing about being in here in the wintertime?
[00:33:27] Speaker C: It's warm.
[00:33:28] Speaker A: I know. The answer is the tropical.
[00:33:30] Speaker B: It looks like summertime, doesn't it?
[00:33:31] Speaker A: Right. I walked in, I thought I was in a tropical location. All the agave up in here.
[00:33:35] Speaker B: A couple of different types of palm trees. There's a little agave growing right there.
Agave everywhere.
[00:33:41] Speaker A: That's right. That's right.
[00:33:42] Speaker B: Okay. So when we were. When we were offline Is that how you say it?
[00:33:46] Speaker A: Yes.
[00:33:46] Speaker C: Taking a break.
[00:33:47] Speaker B: When we were taking a break, we were doing calisthenics. Is that what you call them when you work out?
[00:33:53] Speaker C: Yeah, that is. Yeah.
[00:33:54] Speaker B: Is that the right word? You're a gymnasium person, aren't you?
[00:33:58] Speaker A: Where are you going with this? We're doing calisthenics.
[00:34:00] Speaker B: Yeah. In that break where we were getting our drinks, we did our workout.
[00:34:03] Speaker A: Let's go to your question.
[00:34:07] Speaker B: What's the craziest thing you've ever had happen at a closing?
[00:34:11] Speaker C: Yeah. So I did have someone pull out a gun.
[00:34:15] Speaker A: Dude, I'm telling you, my butt would clench.
[00:34:17] Speaker B: No.
[00:34:17] Speaker A: Fast.
[00:34:18] Speaker B: Let me ask you, were these kind of guns?
[00:34:21] Speaker C: No. You did not have those. Neither do I had the actual gun.
[00:34:25] Speaker B: Neither do I.
[00:34:27] Speaker C: No. And it was kind of a. A sad situation because I, I do think that it was. It was a V8 loan, obviously a veteran. I think there was some PTSD there, but it was just a very, very stressful, very stressful closing. The lender, who I will not name, was terrible.
[00:34:45] Speaker B: Wasn't me. It wasn't me.
[00:34:47] Speaker C: They're no longer. They're no longer around.
[00:34:50] Speaker B: Good.
[00:34:52] Speaker C: And I even had some very not good experiences with. With said lender. And I could tell he was just lying. Like, straight fire sucks. I'm like, you know, first time home buyer obviously got some, some issues, things like that. And he mentioned the loan officer's name and said, you know, if this bunker shows up here, I'm going to shoot him.
[00:35:18] Speaker B: Oh.
[00:35:19] Speaker C: And like, throws his pistol up on the table. So.
[00:35:22] Speaker B: Holy cow.
[00:35:23] Speaker C: Like, directed towards me. But I was the only other person in the room because it was a split closing.
[00:35:31] Speaker B: Johnny loan shark was going to get a cap in his ass.
[00:35:35] Speaker C: And, you know, now it's just, I've been doing this for so long that I probably just be like, cool. Did you want me to go get.
[00:35:42] Speaker B: Do you want to. You want to call him?
[00:35:44] Speaker A: Do you have PTSD that you need more of this help. Help you get through the evening?
[00:35:49] Speaker C: Makes drink. Right? Like a little bit. And the kicker was it was delayed funding. So I'd go back. No, delayed funding because the seller was in Kentucky. So I had to go. Like, when I say this was a horrible experience, it was so bad and it needed to close. So I drove to Kentucky and picked up the stellar dock.
[00:36:14] Speaker B: Did you have to actually talk to a Kentucky fan while you were there?
[00:36:17] Speaker A: I mean, that was.
[00:36:18] Speaker C: There's Louisville, which I don't like to be in.
[00:36:21] Speaker B: The Louisville Cardinals.
[00:36:22] Speaker C: Yeah. Ls down. Not doing that.
[00:36:25] Speaker B: Ls down. Is that what she just said? But have didn't they like just absolutely crushed Kentucky in football last year?
[00:36:32] Speaker A: Oh, could have been this year.
[00:36:33] Speaker C: Football.
[00:36:34] Speaker A: Okay, tomorrow neither is iu.
[00:36:38] Speaker B: But this year, hey, we be Ole.
[00:36:40] Speaker C: Miss on the road.
[00:36:42] Speaker A: That's a big one. For real.
[00:36:43] Speaker B: I actually have a friend from Oregon that's a huge Oregon Ducks fan that's excited about maybe coming to the Big Ten because they think they're going to play iu.
[00:36:53] Speaker A: Well, that's okay.
[00:36:54] Speaker B: IU in the Big Ten football tournament.
[00:36:56] Speaker A: That's like, that's a hard unheard of.
[00:36:59] Speaker B: It's like a Republican winning the Senate.
[00:37:00] Speaker A: Now, unfortunately, this particular episode is going to be broadcast after the IU Ohio State game. So might have undefeated season, might have one loss. Speaking of current events, gotta say, that was amazing.
[00:37:15] Speaker B: I can't believe I got that in there.
[00:37:17] Speaker A: Speaking of current events, I had to go to your Facebook page to get some pictures of you. And I don't know if you've noticed, you do appear up here on the screen every now and then, but you went downtown for the Taylor Swift concert. But I don't believe you went to the concert. Correct.
[00:37:31] Speaker B: Oh, you didn't get to see T. Swifty?
[00:37:32] Speaker C: No, I was lame.
[00:37:33] Speaker A: It's not really lame. That's expensive ticket.
[00:37:36] Speaker C: It was like $2,200 for behind the Stage. Like I'm a sea snob, so.
[00:37:42] Speaker B: Wait, what's that?
[00:37:43] Speaker A: A sea Snob seat snob.
[00:37:45] Speaker B: Oh, that means you only go to sweets. I only go to sweets. I'm only going if it's a suite.
[00:37:49] Speaker C: Just super bougie. Yes. I just want good tickets or I'm just not going. Right. So I wasn't paying $2,200 for behind the Stage.
[00:37:59] Speaker A: For real.
[00:37:59] Speaker B: We got an offer for a Morgan Wallen suite and it wasn't a good enough suite, so we didn't go.
[00:38:05] Speaker C: I don't know that you should tell, like, tell people that. I don't know that.
[00:38:08] Speaker A: Again, it was. Brad's a little bougie. Sometimes that's okay. But you all went downtown just for the Taylor Swift excitement.
[00:38:16] Speaker B: Do you have any friendship braces for me?
[00:38:19] Speaker C: It was so fun. It was one of the coolest experiences just to see dads interacting with their. With their kids and, you know, their little girls and exchanging friendship bracelets with people that you don't know. They're. They're coming from. From everywhere. Literally everywhere.
It was one of the coolest things.
[00:38:40] Speaker A: So the feel good vibes around there were probably tremendous.
[00:38:45] Speaker C: Yeah, I mean, you didn't see anyone that was rude or unhappy or. It was just a weekend of pure, like, love, happiness, hanging out with friends that you didn't even know had. We ended up buying, like, a ticket to a bar that had, like, food and drinks all day.
[00:39:04] Speaker B: Cool.
[00:39:05] Speaker C: And you could ride the handlebar. I don't know if you guys have ever done that, but, yeah, you could ride that as much as you wanted. So that was, like, all included in our ticket.
[00:39:13] Speaker A: Wait, so you went to the hangar? Yes, the hangar. Yeah.
[00:39:16] Speaker C: Yeah. And it was, like, one of the coolest, coolest parties, like.
[00:39:20] Speaker B: And we were just a pedal thing.
[00:39:22] Speaker C: Yeah.
[00:39:22] Speaker B: Oh, yeah. Good for you.
[00:39:24] Speaker C: Yeah, it was so. It was just. It was fun, fun time. So we had a good time.
[00:39:29] Speaker A: That's awesome. Do you consider yourself a swifty?
[00:39:32] Speaker C: Yeah.
[00:39:32] Speaker A: You don't have to. It's okay.
[00:39:34] Speaker B: You don't.
[00:39:34] Speaker A: I mean, I like, a lot.
[00:39:36] Speaker C: I'm.
[00:39:37] Speaker A: If given the opportunity, I would have gone to the show.
[00:39:39] Speaker C: Yeah. I'm not even upset about it. I'm totally a swifty.
[00:39:43] Speaker B: You know I'm not a swifty. Right? I don't. But I think what she's been able to put together and the way she treats her fans and what she does is really amazing.
[00:39:50] Speaker C: Yeah. And she's. She's kind of smart.
[00:39:53] Speaker B: Do you know who she learned it from? Country music, they treat their fans like that.
[00:39:58] Speaker C: I mean, I. I think she still has a large following from her.
[00:40:02] Speaker B: Absolutely.
[00:40:03] Speaker A: Yeah.
[00:40:03] Speaker C: Yeah. Obviously, now it's a little more pop, but I. Yeah. I mean, she just seems like she's somehow. She's gotten millions of people to just.
[00:40:14] Speaker B: Yep.
[00:40:14] Speaker A: I saw a TikTok this week that talked about how much she makes per concert, just per night. It's like $13 million.
[00:40:25] Speaker B: That's amazing.
[00:40:26] Speaker A: And she is super generous. I mean, my wife runs a pantry that is affiliated with Gleaners Food bank, and she said that when Taylor was here, they donated, I think it was a million dollars to Gleaners Food Bank. And every concert that they. Every city they go to, they always donate to a food bank.
[00:40:45] Speaker C: That's amazing.
[00:40:46] Speaker A: And she treats her staff right. She treats her dancers well. I mean, she's given them million dollar bonuses.
[00:40:53] Speaker C: Yeah. It's a hundred thousand after every show. Like, every, like, city that they go to, they get $100,000. And that's just from, like, moving the stuff to her wardrobe, like, per city.
[00:41:06] Speaker A: That's awesome.
[00:41:07] Speaker B: It's amazing. If you look at, you know, one of the things that country music does, I think is amazing that that pop Music and rock music really doesn't do is if you've ever been to CMA Fest, if you've ever gone to Nashville during CMAs, these amazing artists show up and they're there to sign autographs, to play for free on these free stages. There's five or six free stages all through downtown Nashville. They all play on those stages. They are, they're there for their fans. They do question and answer sessions. They, they do all these meet and greets, all for free. And you know, when you go back to when Taylor was in country music, you know, you would go to. In the old days it was called Fan Fest. You'd go to the fairgrounds to Fan Fest and you know, you would stand next to Reba McIntyre and Brooks and Dunn and Garth Brooks and all these people that came and didn't get paid to be there. And, and then when you look at what CMA Fest does today, they, none of those artists gets get paid. They're all, all that money is donated to cma, which goes to help music programs in schools and like they really do good things. And I think because she came from that, she doesn't.
[00:42:14] Speaker C: That mentality.
[00:42:15] Speaker B: Yeah, she doesn't have that Beyonce, you know, meet me at my private jet, you know, if you can afford it type garbage. Right. So I, I'm, I'm impressed by her big time.
[00:42:24] Speaker A: Awesome.
[00:42:26] Speaker B: I think she's awesome. But I didn't, I didn't go either. Yeah, I don't know her songs these, these days.
[00:42:31] Speaker C: I know all of them.
[00:42:32] Speaker B: Can you, if I got the guitar out, could you like do a couple.
[00:42:36] Speaker C: I don't think you want me to sing.
[00:42:38] Speaker B: Well, you never know. The fans may that we might get all of our likes from that highest rated show. Oh, we got that all attempt. We got plenty of jobs to make that happen.
[00:42:48] Speaker A: Come on, let's go.
[00:42:49] Speaker C: Couple drinks in a dare, I pretty much do anything.
[00:42:52] Speaker A: But this is a, this is a part of the real estate process that people don't know about for sure. I mean, again, we've talked about it. They show up to closing, someone briefly explains documents to them, gives them a vague interpretation of what they're signing, and they sign. They don't know much about it. They don't know how the hell they got there. They certainly don't know why they're paying the money to you all.
[00:43:15] Speaker C: Oh yeah, there's a huge confusion of that. Like, I thought my lender was this. You know, I thought I was supposed to be sending my money to Brad, you know, that type of Thing. So yeah, there's, there's a lot of misconception of what we do.
[00:43:26] Speaker B: And, and thank God we don't do it like some of the other states where we have to use an attorney that's going to charge you 4, 5, $600 an hour and make the process last three or four hours for billing purposes. I have a realtor moved to Connecticut that deals with that.
[00:43:41] Speaker C: New York, you know, for that.
[00:43:43] Speaker B: Yes, Connecticut, New York. And then of course we don't have to do escrow like they do in art. California are high cost states.
[00:43:51] Speaker C: Yes.
[00:43:51] Speaker B: And I do understand, I mean there's. So that, that actually leads me to a little bit of a question. So the reason other states do escrow is because of title fraud. Right. So if I buy a house in Indiana, I get the title for that house. You're going to go record me on title as the lien holder. But someone literally could go close at another title company an hour later and sell the same house.
And we're not going to find out that happened till both of you go to record that mortgage.
[00:44:23] Speaker C: Sure.
[00:44:23] Speaker B: We're in California. You go into escrow and what that means, going into escrow means the title company is going to record every document. So when you close on that house, they've already ensured that you are the person that has been recorded in that first lien position with your mortgage company. That's the deed is yours. So do you think there's ever a time that Indiana will make a switch to an escrow state or would it really take a lot of fraud where people caught onto that before that would happen?
[00:44:53] Speaker C: Yeah, I mean I think we're seeing a high level of fraud right now because it is cheaper to buy homes here than it is in those states, California and things like that. But one of the things that is great about working with Fidelity. So we're. That's who our underwriter is, which they're the. I believe they moved into the largest underwriter nationwide is, you know, we, we have a good relationship with them. They let us know if there's a fraud watch, if there's things that we should be looking for. I don't foresee Indiana getting to that point of needing to be a full escrow state.
[00:45:30] Speaker B: So how.
[00:45:31] Speaker C: And that's just an opinion.
[00:45:33] Speaker B: I say it's our opinion.
[00:45:34] Speaker C: I see on the deal.
[00:45:35] Speaker B: I don't disagree with you.
[00:45:36] Speaker C: Yeah. I just don't see that being the case.
[00:45:38] Speaker B: How would the insurance work though? Let's say you guys went to record it and someone recorded one an hour before you.
[00:45:45] Speaker C: So that would have to go directly back to the underwriter. And they're like, our underwriter would have to talk to that.
[00:45:51] Speaker B: The other company's underwriter.
[00:45:54] Speaker C: And it would become a legal battle of who actually had the interest.
You know, a lot of that comes down to the seller.
[00:46:02] Speaker B: Bails of B.O. checks.
[00:46:03] Speaker C: Well, yeah, And I. Yeah. Who has the money? Right. Like, how did both of them get funded?
What purchase agreement do you have? What are the dates on those purchase agreements? Like, people get very frustrated with how thorough that we have to be in our documentation.
And there's a reason for that.
Because we're insuring it. Right. Like, we're the ones that are responsible for that money and recording times. People don't understand how much that makes a difference.
We record as soon as it. You know, as soon as we're done, sometimes that same day.
[00:46:43] Speaker B: No kidding.
[00:46:44] Speaker C: So our.
[00:46:44] Speaker B: So your chances of getting yours recorded first. It's way better than somebody that a.
[00:46:48] Speaker C: Title company office is outside of. Outside of wireframe. It is. The number one thing that we are concerned with is recording times and final policies, because that policy gets binded as soon as it gets recorded. And when it records, it transfers.
[00:47:04] Speaker B: So you send that out within, what, a week or so to the buyer.
[00:47:07] Speaker C: We are about 48 hours on final policies, and that's owners and lenders.
[00:47:14] Speaker B: Awesome. Did we just get in the weeds on you there, Brian? No.
[00:47:17] Speaker A: No.
[00:47:17] Speaker B: You knew about that?
[00:47:18] Speaker A: Yeah.
[00:47:19] Speaker B: Some people.
[00:47:19] Speaker A: I didn't know about that stuff, but I understand what she's saying.
[00:47:21] Speaker B: I have many realtors that have no idea that that could happen.
[00:47:25] Speaker C: Oh, for sure. Yeah.
[00:47:27] Speaker B: I mean, we. We have to learn.
[00:47:28] Speaker A: Actually talked about in real estate school.
[00:47:30] Speaker B: Oh, they do?
[00:47:31] Speaker A: Yeah. I mean, to a vague extent, but.
[00:47:35] Speaker C: I mean, I'm not unfamiliar a lot about title insurance.
[00:47:37] Speaker B: I've been real, like, that could happen. You're like, yes, it can.
[00:47:42] Speaker A: Yeah.
[00:47:42] Speaker C: I used to give a class at Brian Lee's school for real estate. Whatever.
[00:47:50] Speaker A: I got nothing.
[00:47:50] Speaker C: Yeah.
[00:47:51] Speaker B: Yeah.
[00:47:51] Speaker C: Well, he's out of it now, but.
[00:47:52] Speaker B: All right. He must not have been that good.
[00:47:55] Speaker C: Yeah, I mean, I used to talk about all of his stuff, but it kind of goes in one ear and not the other. Until it happens to you.
[00:48:01] Speaker B: Right.
[00:48:01] Speaker C: Like, title insurance doesn't mean too much to people until they need it.
[00:48:05] Speaker B: Yeah. It doesn't mean anything. So they find out there's a lien on their house they didn't know about. Yeah. Then it's like, well, what was that? And you know who they call me.
Call me. And Go. I got this thing in the mail.
[00:48:18] Speaker C: So the mail, that's another thing is like we spammers, right? We were.
[00:48:23] Speaker B: The junk mail after somebody closes is ridiculous.
[00:48:27] Speaker C: So that's like my little, like, last thing I say before you do the pitch. I do the pitch.
[00:48:32] Speaker B: I go to closing to do the pitch in case the closer doesn't do the pitch.
[00:48:34] Speaker C: Like, I do the pitch because I don't mind to take your phone call post closing. But it's so common, the pitch that.
[00:48:43] Speaker B: Says if you get some junk mail that's going to say you have to spend $125 to get your D word. A docum, they're not doing anything illegal. They're going to charge you $125. They're going to go to the courthouse and pay $5 and send you a picture of that piece of paper. But you already have it in your file here.
[00:49:02] Speaker C: And mortgage insurance and home warranties.
[00:49:07] Speaker B: Have you seen the check?
[00:49:08] Speaker C: Oh, I've, I've seen everything. I have clients that will like, like, I get it.
[00:49:13] Speaker B: I tell them to me take a picture, text it to me.
[00:49:15] Speaker C: I like you said, I didn't need to do anything. I'm like you.
[00:49:18] Speaker B: You still don't. You still don't still junk. So here's the one I got. Not too long ago, they got their final title policy.
Do I need to do something with this? And I was like, no, that's the one we said you would get.
[00:49:30] Speaker C: Yep.
[00:49:31] Speaker B: Now there's one other that you're going to get. It's your payment information.
[00:49:34] Speaker C: You do need to do you do.
[00:49:35] Speaker A: Something with that one payment, please pay that.
[00:49:39] Speaker C: Like servicing. So, like, if I, if I have a brokerage, I let them know, like, you're going to get a servicing notice. You know, two things to be heads up for who you're making your payment to and the fact that you own the property outside of that, just put it in the trash.
[00:49:53] Speaker B: Okay, so I have one question left.
[00:49:55] Speaker A: I have one as well.
[00:49:56] Speaker B: Do you want to go first?
[00:49:58] Speaker A: No.
[00:49:58] Speaker B: Okay, I'll go first then. Okay. So we all know that refinancing is going to be a thing, at least all of us mortgage and title people.
[00:50:06] Speaker A: As rates come down, we're sitting on.
[00:50:08] Speaker B: This giant bubble of hope the interest rates are going to come down and we're going to do like a million gazillion refinancing.
[00:50:15] Speaker A: Right.
[00:50:15] Speaker C: Make money all over.
[00:50:17] Speaker B: Oh, do we do a lot then? I didn't.
[00:50:19] Speaker A: That's when I kind of started.
[00:50:20] Speaker B: Was really busy doing purchases. But yeah, we did a few. So we're all hoping that it turns around. So you already said you have mobile closers. Right. Do you use contract closers or is all people from.
[00:50:29] Speaker C: We do. So we, we bet our contract closers. I have three go tos that I have worked with for as long as I've been doing this. Almost.
[00:50:38] Speaker B: It's one of them named Darren.
Oh, Heather.
[00:50:43] Speaker A: Hi Heather.
[00:50:43] Speaker B: I think I know Heather.
[00:50:45] Speaker C: Heather, Mo and Laura. So those are my go tos.
I try to keep it at that. Or myself just because, you know, I, I feel that this is a relationship built business and I don't want to send somebody that has trusted me with their client.
[00:51:02] Speaker B: Sure.
[00:51:03] Speaker C: That I don't know. Right, right. And that.
[00:51:05] Speaker A: And.
[00:51:05] Speaker C: But sometimes that takes like getting to know a closer. Right. Getting feedback from people.
You know, Heather brought you to me.
[00:51:13] Speaker A: Yeah.
[00:51:13] Speaker B: Right.
[00:51:14] Speaker C: So at that time, you know, she was working directly on the Denali staff and I've been very fortunate with who I have have gotten to know now. That's not saying that there's not good closers out there and that I wouldn't be willing to take someone else on. Sure. It's just we're very, very selective for not only the personality reasons, but just common knowledge when that person goes to the closing table. Confidence, understanding the documents.
[00:51:45] Speaker B: We're.
[00:51:45] Speaker C: We're the last thing that the buyer or borrower or seller remembers.
[00:51:50] Speaker A: Yeah, right. Definitely. And people remember the beginning and the end.
[00:51:53] Speaker B: But unless, Unless the loan officer did a bad job.
[00:51:57] Speaker C: But even at that, I mean, honestly, they don't necessarily remember that. They remember if they had a good time at closing.
[00:52:03] Speaker B: No, it's 100. True.
[00:52:04] Speaker A: And if, if, if the loan officer screwed it up, but it happened at closing and that's where they found out it got screwed up. They think the closing was screwed up.
[00:52:13] Speaker C: Yeah.
[00:52:14] Speaker B: Still loan officers there though. It can, they can.
[00:52:17] Speaker A: That's enough.
[00:52:17] Speaker B: I mean, I go so I know.
[00:52:19] Speaker C: It'S where a good partnership is too. You know, we're very selective with who we take on as clients.
[00:52:25] Speaker B: Right.
[00:52:26] Speaker C: Not just closers. You know, you're there.
[00:52:30] Speaker B: You made it. Brian.
[00:52:31] Speaker A: Honestly, he does a great job though. She likes, she likes my phenomenal job.
[00:52:35] Speaker C: I don't like anything that he's wearing, but I won't hold that against.
[00:52:38] Speaker A: But she likes the big hat.
[00:52:39] Speaker C: Yeah, I, I do like the big hat. You could switch that up.
[00:52:42] Speaker B: Hard to deny a winner right now. Okay, so question.
[00:52:45] Speaker A: Part of b.
[00:52:46] Speaker B: Part of my question is no. So refinancing, one of the things that we look for As a lender, when we're sending our client to refinance is people that'll discount that title because my title that I search, I have is only two years old or the policy I have is only two years old. Do you take other title policies if they're within a certain time and discount that new policy for our borrower?
[00:53:06] Speaker C: So. And if there's not even time frame on it, as long as the deed didn't change and it I have the full owner's policy, you're good to go. Because the thing is, is that we can always fall back on that. If you look at it from an insurance standpoint, the liability is the big word, right?
[00:53:22] Speaker B: Yep.
[00:53:22] Speaker C: What is my liability taking on a new transaction? If I have that information, it's probably slim to none. So, yeah, we're gonna. We're gonna honor that. Even if it's a different underwriter, different title company. If I have that full policy, we're good to go.
And, yeah, we'll give a 30% discount on that.
[00:53:39] Speaker B: One of the things we do is we actually collect those final title policies. As a lender, we put those in our package. So when our customer closes, we always have their final policy. That way, if my customer says, I don't know where it is, I do.
[00:53:51] Speaker C: Yeah.
[00:53:52] Speaker B: And then when we go to the refinance, we actually place that with the order. We'll put. If there's a survey in there, we'll put that survey in there. We'll have all that information for you. So that's good enough.
[00:54:01] Speaker C: It clears things up, too. If something was.
[00:54:03] Speaker B: Makes it easy.
[00:54:04] Speaker C: So, you know, if it was a purchase where maybe there was that old mortgage that you were talking about earlier, it clears it up. We don't even have to mess with it. We know it was paid off, so.
[00:54:13] Speaker B: That'S good to know. I probably need to send you some refinances if I ever get any. I've closed three this year because people got divorced. That happens when they refinance in these markets.
[00:54:27] Speaker A: When I list a house, I will usually choose my title company in advance, often Denali Title, and you all will do prelim title on that before potentially it even goes on the market before the buyer sends us a purchase agreement.
It is the buyer's right to choose the title company. Yes, but I've already started that title paperwork with you.
And oftentimes a realtor will put in the BLC listing prelim title already started with blah, blah, blah. And sometimes they'll even, I say, threaten that if the buyer Chooses another title company that they'll have to absorb fees or whatever.
If another title company is chosen and I wanted you, but they pick somebody else because that costs you money.
[00:55:15] Speaker C: It does.
[00:55:16] Speaker A: What, what happens?
[00:55:17] Speaker C: That's the cost of doing business. I'm a firm believer in the buyer's right to choose because they are assuming the property. So we value our partnership with people enough that we hope that they're. They've made a phone call to the agent and said, hey, like, these guys are good. I wouldn't have picked them if not. But if your buyer truly wants to choose somebody, they have the right to choose and they are the ones that ultimately are going to have to deal with this. So there are title companies that charge for that. I've only charged one time. And that was where the title company that got the deal actually had some slander towards us and falsified information. And it was on the listing agent's side.
That was the only time I charged for it. And I only charged the bare minimum certain fee. Like not even what we use for our examination, but just what our. What our searcher bill does had it.
[00:56:18] Speaker B: Charged in the rolly fee.
[00:56:20] Speaker A: But.
[00:56:20] Speaker C: And that was. That's even kind of out of character because I just, you know, just like you might show somebody 10 houses and never get a deal or you might take an application and they back out.
[00:56:32] Speaker B: An application multiple per week is like.
[00:56:37] Speaker C: The cost of doing business and the partnership and knowing that it will be made up down the road is more there than. Let's penalize you for wanting to see what's on the property. Making sure your seller has clear title. I mean, yeah, we just kind of roll with that. Okay.
[00:56:55] Speaker B: All right. So how can people get a hold of you if they are a realtor out here watching our show? Because they're probably listening to Brian's nuggets to find out how to be a.
[00:57:04] Speaker A: Great realtor all the time.
[00:57:05] Speaker B: How do they contact you? Where's the best place to find you?
[00:57:08] Speaker C: Well, I'm always at the office. Always. But my. My email address, lauren denali-title.com you can hit up our website. All my information is on there. So that's www.denali-title.com.
[00:57:21] Speaker A: How old are you?
[00:57:23] Speaker C: 36. What?
[00:57:24] Speaker A: No, I asked that because who the hell says WW? Everyone knows it's www brian36.
[00:57:30] Speaker C: And I feel like that's hard.
[00:57:32] Speaker B: Hey, Brian, I got a question. Every when are you due?
[00:57:35] Speaker A: I understood why people say www.
[00:57:39] Speaker B: We know that still ww. All right, so do you have. Do you have like, if somebody wanted to follow you on your own social media. Because I'm sure your social media.
[00:57:46] Speaker A: Your social media is fun. My social media is fine, except for the Kentucky shit.
[00:57:49] Speaker C: I mean, but I posted. I posted Bobby Knight thing recently. It's a lot of golf stuff.
[00:57:54] Speaker A: Yeah.
[00:57:55] Speaker B: Where do they find you?
[00:57:56] Speaker A: Yeah, I will say you're a fun Instagram follow. You have very humorous stories.
[00:58:01] Speaker C: Try to.
[00:58:02] Speaker A: And just like screens of. Of dialogue. That's funny. It's good stuff.
[00:58:06] Speaker C: Well, I mean, I'm on Instagram, Facebook, Twitter.
[00:58:08] Speaker B: What. What are the tw. X. Oh, X. Yeah, you gotta remember it's X now.
[00:58:13] Speaker A: Not a Twitterer.
[00:58:14] Speaker C: I don't even know my handles is that bad.
[00:58:16] Speaker B: Well, you know what? Brian's gonna look this up and flash them on the screen over here.
[00:58:19] Speaker A: I don't.
[00:58:20] Speaker B: It'll be above us.
[00:58:20] Speaker C: I just log in, you know, Phone.
[00:58:23] Speaker B: Yeah, log in. It's on the phone. Are you a TikTok person?
[00:58:26] Speaker C: I. I want to be, but I. I'm just very old school. I'm an old school.
[00:58:31] Speaker B: Well, she said WW Obviously that's a problem.
[00:58:34] Speaker C: Sorry.
[00:58:35] Speaker B: Just say HTTP S. Slash.
[00:58:38] Speaker C: Everyone. Everyone knows it's www, Right?
[00:58:41] Speaker B: Okay. So, Brian, where do we find you on social?
[00:58:44] Speaker A: Dude, we don't got time for that.
[00:58:45] Speaker B: You're right. You find him on everywhere. Check him out on Only fans. It's fantastic.
[00:58:50] Speaker A: Oh, yeah. Feet picks galore.
[00:58:53] Speaker B: Wow. What's the. There was a commercial.
Silver.
Silverstone or so. What was the girl's name? Sarah Silverstone. Is that what her name is?
[00:59:02] Speaker A: Alicia Silverstone? Was.
[00:59:04] Speaker B: No, no, no, she's a comedian.
[00:59:05] Speaker A: Oh, Silverman. Yeah, Silverman.
[00:59:07] Speaker B: Where she said, please don't make me lose this job. I don't want to go back to selling feet pics. Follow me on bigfatfeet.com remember that commercial?
[00:59:14] Speaker A: Yeah.
[00:59:14] Speaker B: It's so freaking hilarious. Yeah, yeah, it's good stuff. Well, thanks for coming. I know you drove a long way. You drove like a hundred miles to get here.
[00:59:22] Speaker C: I think I was in Bloomington or something. No, I'm just kidding.
[00:59:25] Speaker A: You're a Southsider.
[00:59:26] Speaker B: You are a Southsider like myself. And you are freakishly on the northeast side right now.
[00:59:32] Speaker C: I have hives.
[00:59:33] Speaker B: Oh, you do not.
[00:59:34] Speaker C: You have those from being north of Whiteland River.
[00:59:36] Speaker B: You have those by being close to an IU fan. Well, I want to say thanks for coming.
[00:59:40] Speaker A: Definitely.
[00:59:41] Speaker B: Thanks for tuning into another show like.
[00:59:43] Speaker A: Follow Subscribe Share Review. At some point in this episode, you give us a thumbs up. And if you're just listening leave us a comment. And I don't know how the listening stuff grows, to be honest.
[00:59:56] Speaker B: I don't know. But if you're still here, you deserve some kind of reward.
[00:59:59] Speaker A: Grief.
[00:59:59] Speaker B: So on the next show that we do, we're going to have a trivia question and give away a 25Amazon card on the next show. So the key is if you listen to this one all the way through, you're going to know to listen to the next one and the next one will have some tricky little shit where you win a 25Amazon card. Wow.
[01:00:18] Speaker C: You said Amazon. I thought it might have been discount closing.
[01:00:22] Speaker B: They don't know that they're going to refinance yet.
[01:00:24] Speaker C: Really?
[01:00:24] Speaker A: $25 is going to do a whole lot to the closing fees.
[01:00:27] Speaker B: That's half a recording fee.
[01:00:30] Speaker A: Ounce for something.
[01:00:31] Speaker C: Pl fee.
[01:00:32] Speaker A: There you go.
[01:00:32] Speaker B: Oh, yeah, that's a closing protection letter.
[01:00:35] Speaker A: Now we're. Well, Lauren, thanks so much for being here.
[01:00:38] Speaker B: Cheers, Lauren. Thanks for coming.
[01:00:41] Speaker A: Cheers to all of you. We'll see you next time on Real Estate Makes a stream.
