PCS Title - In The Abstract 1.1

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Text Box: title and closing services at rates that provide the parties with the most value for their money. Website Enhancements While many title companies use their websites as a simple marketing advertisement, PCS sees its website as a tool for the parties to the transaction. For REALTORs, lenders, and sellers, the website includes a HUD-1 Settlement Statement Generator. Data about the transaction can be entered, and a preliminary settlement statement will be created on the screen that includes documentary stamp taxes, sales commissions, payoffs, recording fees, and administrative fees in addition to the title insurance and closing fees. Closing Agent, Tabetha Stokes, says, “This is a

Text Box: History of the Company PCS Title opened its doors as Precision Closing Services, LLC, in January, 2006. Early on, the employees discovered that buyers often found it difficult to remember the full name of the company, so “PCS Title” was registered as the company’s fictitious name. While the company is fairly young, its founder — attorney Joseph E. Seagle — has been representing real estate lenders, mortgage brokers, buyers and sellers for over 10 years as an attorney licensed to practice in Florida, North Carolina, South Carolina and the District of Columbia. The company’s focus has always been quality and accuracy over quantity. This focus helps the company provide professional real estate

Text Box: great tool for REALTORs preparing a net sheet for their sellers at the listing appointment, or for lenders preparing their good faith estimates.” The site also has tools for placing a title order, tracking the status of the closing file, and even reviewing executed documents after closing. So, at any time, a party to the transaction can go online at www.pcstitle.com to open, check the status, and review the documents of a closing. Preventing Fraud In the current market, PCS Title has seen many instances of attempted mortgage and property fraud. The employees have noticed that there are three “red flags” that seem to be common in every scheme. First, in a purchase fraud

Text Box: customary practice. Secondly, the contract is assignable. Third, there are addenda to the contract regarding the price of the property and payments that are either to be shown on the seller’s side of the settlement statement or not at all. These are indicators that the buyer may try to engage in a “single-sided” flip at closing. These transactions may be illegal and can lead to a great waste of the seller’s time and money if not recognized and avoided early on. Seminars The company’s founder and president, attorney Joseph E. Seagle, often presents seminars on legislative updates, fraud prevention, compliance issues, and other real estate related topics. To have him speak at your next meeting, please contact PCS