In the News
Virtual Meetings
Who likes going to office meetings? Frequent meeting attendees hope there’s a spread of food and drinks; if there’s not, then they’d prefer the conversation be conducted via email.
Real estate brokerages are shifting to virtual office spaces where there are no in-person meetings to attend. Some brokerages even have avatars for their agents to meet with clients or attend meetings.
Agents with virtual offices need a closing attorney with their own conference room to complete their closings and that’s where Origin Title & Escrow comes in. And yes, we will have a basket of candy on the conference table.
Online Shopping for a Closing Attorney?
97% of home-buyers begin their search for a house online. 74% of people looking for a mortgage now find it online. Less than 1% of people shop for their closing attorney online.
This 1% is the main reason it’s important for closing attorneys to have a strong network of real estate agents that assist buyers. It’s also a big reason why home-buyers may not know what a company like Origin Title & Escrow actually does.
Our website has plenty of information to educate buyers and sellers, but it also provides closing costs, allows people to request title and to schedule a closing. We also have real live people clients can call with questions!
Are Remote Closings Possible?
The Supreme Court order that was issued on March 27 concerning closing real estate transactions via video has been misinterpreted by some, so here are the facts.
As of March 27, closing via video conference is possible where the attorney and the signing party can see and hear each other, and the signing party is in the same room with a witness and a notary public. The original signed, witnessed and notarized documents would have to be overnighted to the closing attorney. This order provides for the attorney and the signing party to be in two separate locations, but does not comply with the social distancing order, since the witness and the notary public must be at the table with the signing party.
Governor Kemp is expected to sign an executive order making closing via video one step simpler. We expect that it will allow the signing party, the witness and the attorney (who will be the notary for the transaction) to be able to see and hear each other and witness the signing. Then the signing party will have to overnight the signed documents to the closing attorney to be notarized and witnessed. This does support the social distancing order, since all parties are in separate locations.
“E-signing,” “e-witnessing” and “e-notarizing” are not allowed in Georgia, and will still not be allowed, even if the Governor signs the emergency order mentioned above. If Georgia adopts a Remote Online Notary (RON) act and amends the recording statutes, then fully remote closings would be possible, but that can’t happen in time to help with COVID-19 isolation.
LIENS NOT RECORDED AT THE COURTHOUSE
We perform a title search for every refinance or purchase closing. There was a time when someone searching titles could get all the needed information at the courthouse. That time has passed. Deeds, mortgages, and most liens are still recorded in the real estate records at the courthouse, but several other items also need to be checked before closing. Everyone knows to check property taxes, but what about other property charges?
Many municipalities in Georgia have ordinances that create liens on the property for unpaid water bills. There is no public index or record of water bills to search. Each county or city providing water service has its own process for getting the water bill. The City of Atlanta charges $10 per property to provide a water bill and accepts requests on-line. Dekalb County does not charge anything and accepts requests through e-mail.
OCGA § 36-60-17 was amended in 2016 to allow water-provider to charge up to $10 to provide water bill information. The same Code states that water-providers have 10 business days to provide a bill and payoff amount. Most providers provide the statement much quicker. The payoff amount is good for thirty days and once paid, extinguishes any lien rights. In order for a water bill to be a lien on residential property, the water charges must be incurred by the property owner.
Georgia Department of Revenue liens are another lien that is not recorded at the courthouse anymore. Effective January 1, 2018, the Georgia Department of Revenue has a separate statewide index for its liens that is only available on-line. The lien index can be accessed through the GSCCCA at: http://search.gsccca.org/LienSearch/StateTaxLienSearch.aspx
or through the Department of Revenue’s web site at: https://gtc.dor.ga.gov/_/#2
It was less time consuming and easier to check everything at the courthouse, but those days are over. After searching the courthouse records, we must get property taxes, request water bills, and search for Georgia Department of Revenue liens on-line.