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Title Company Screw Up

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CindyR

Senior Member
Joined
Oct 26, 2003
Professional Status
Certified Residential Appraiser
State
Arizona
Title companies seem to be slipping lately. Got a correction request to make the legal description match the title report. I asked them to send the title report since I have no idea what title is reporting. I expected it to be some odd comma or minor data element in there somewhere. But no, they completely screwed it up. And if they had any brains at all their own screw up would have been obvious.

Page 1 of the title report was the correct plat map for the subject 1960's subdivision, St Teresa Park. So the Legal description should obviously be Lot XX in St Teresa Park. But no, the legal description on Page 13 of the title report was for lot YY in Braewood Estates. Don't you think they would notice that?

The subject address in St Theresa Park was 5029 East Main Street. The property in Braewood Estates was 5029 WEST Main Street.... I asked if they wanted me to document the error in the title report in my appraisal and they elected to have the title company correct their report.
 

Terrel L. Shields

Elite Member
Gold Supporting Member
Joined
May 2, 2002
Professional Status
Certified General Appraiser
State
Arkansas
That's why they buy title insurance E & O... Mistakes are common
 

AMF13

Elite Member
Joined
Jan 24, 2002
Professional Status
Certified Residential Appraiser
State
California
I asked if they wanted me to document the error in the title report in my appraisal

I wouldn't want to do that. Enough time wasted on somebody elses mistake as it is.
 

Restrain

Elite Member
Joined
Jan 22, 2002
Professional Status
Certified General Appraiser
State
Florida
Back in the day I got into one where a sale included only part of what was shown in the survey. Most of the property was not included in the legal, and the property line was actually running through the pool. Title company was trying to figure out how to solve the problem. Seems part of the property got omitted back two prior owners deeds. It got interesting. What amazed me was that the legal in the deed clearly didn't match the survey and no one caught it.
 

Howard Klahr

Senior Member
Joined
Oct 4, 2004
Professional Status
Certified General Appraiser
State
Florida
I perform assignments for title insurance claims all the time. The issues can often be quite entertaining.
 

TRESinc

Elite Member
Joined
Dec 1, 2011
Professional Status
Licensed Appraiser
State
Ohio
i seem to average at least 1 order per month where the client comes back and asks me to complete the PUD info because the title company says it's a PUD. so far not one of them have met the FNMA definition of PUD that is used when completing the report on the FNMA form...
 

Restrain

Elite Member
Joined
Jan 22, 2002
Professional Status
Certified General Appraiser
State
Florida
We just hit one that there is going to be a title issue. Legal in the deed coming into the seller has a deficiency. Not horribly severe but enough that the title company is going to be scrambling, as well as the attorney who prepared the previous deed.
 

Atlanta CG

Senior Member
Joined
Jan 15, 2002
Professional Status
Certified General Appraiser
State
Georgia
Georgia has many old subdivisions that were initially set up as PUD's but over time they simply dropped the HOA fee requirements but the title still picks up the original PUD info and we are asked to make the appropriate changes in our reports. Rather than fight them, we explain what happened and why we claim it lies in a PUD with no $. Must be confusing to Fannie & Freddy.
 

Gregory Beck

Senior Member
Joined
Aug 6, 2003
Professional Status
Certified Residential Appraiser
State
Florida
It wouldn't be the first time a title company screwed up.
 

Vermonter

Senior Member
Joined
Mar 21, 2007
Professional Status
Certified Residential Appraiser
State
Vermont
It wouldn't be the first time a title company screwed up.

Nope and it's easier to pressure the appraiser to match the incorrect data than to get a title company to correct their mistake. Went round and round with a client about this last month. Had the legal description for a subject, title report was for another property across town. Title company was adamant they were correct. Finally agreed to meet the "researcher" at the town office, walked in the vault, opened the book and pointed out the correct deed to make it go away....with a trip fee of course.
 
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