Spring 2026

Consumers (in other words, buyers and sellers) expect us to know certain basic things about our business. They are entitled to do that because we all hold ourselves out to be professionals and experts in our field.  Knowing the Residential Sales Contract and how to apply at least some of its provisions to real situations is very important and expected.  Not long ago we had the buyer’s side of a closing, and the sellers were closing at a different title company.  All the documents were signed, and we wired the funds to the seller’s title company.  It was late in the day, so it was too late for the seller’s side company to wire the seller’s proceeds to the seller.  The seller was very adamant about receiving his money before the buyer could move in and instructed the Listing Agent to tell the buyer’s side that the buyer could not take possession as a result.  The discussion and dispute went back and forth for about 45 minutes with the buyer’s side adamantly arguing that the deal was closed because the funds had been wired to the seller’s title company.  The seller and their lawyer, who by this time was involved, was equally adamant that pursuant to the definition of closing in the contract, the “exchange of the deed for the purchase price,” as stated in the contract, does not happen until the seller receives their funds which had not occurred.  So, how do we conclusively determine whether the deal is closed or not?  Is there a way?  Yes Virginia, there is a way.  The Residential Sale Contract states at line 75 in the CLOSING AND POSSESSION paragraph, “Seller shall be deemed to have received funds when funds are received by Seller or Seller’s title company.”  So, while the buyer’s side had the right answer, they did not have the authority to back it up.  As a result, the seller was not convinced until we pointed out what the contract provides.  The moral of the story?  It is critical to know what is in the contract.  Particularly certain key provisions such as Closing and Possession, Title and Survey, Inspections, Adjustments and Closing Costs.  So, in your spare time (which I know you don’t really have), take a look at the contract.  There’s some useful stuff in there. 

I hope everyone is having a good spring and we look forward to seeing you at our offices or at an event.

Winter 2025

I hope the Holidays are treating everyone well and that the stress that can plague so many around this time of year does not trouble you. 

If you think experience counts for anything (and trust me, it does) here’s an interesting statistic I wanted to share. Over 50% of our employees and Investors Title Company have been with us for more than 10 years. I think that says a lot about our company, the people that work here, and the level of service and expertise we can bring to our customers.      

So, when can an Escrow be used to solve a problem and get a deal closed? An “after closing” Escrow where the transaction closes but the seller places funds in Escrow to be disbursed as agreed in an Escrow Agreement can be a life saver on deals where the parties want or need to close but there are items still to be done. The most common, of course, are when the seller has not completed the repairs agreed upon in time for closing. Another prime candidate for an Escrow is when a lien on the property is disputed or there is a delay in obtaining a payoff. For instance, many Mechanic’s Liens that are filed are contested by the seller. A sufficient Escrow can give the seller time to dispute the Mechanic’s Lien and also give the title company sufficient security that funds are available to pay the lien if necessary. The same thing can be done when there is a judgment or even a Deed of Trust under the right circumstances. Essentially, when there is a problem that money alone can solve, an Escrow can work. There are situations where an escrow won’t work. By far the most common is where there is a dispute between the seller and a buyer under a previous contract. This previous buyer doesn’t want just money, they also want the property or their claim can’t be reduced to a firm dollar figure, if that previous buyer files suit and claims that the seller defaulted and they want not just money damages but the actual property as well, then an Escrow alone won’t solve that problem.

One key theme to keep in mind when you have an Escrow situation is that a contract amendment needs to be done to outline the agreement between the parties for the Escrow. The amendment can then be used as a basis for an Escrow Agreement prepared by the title company that is in line with what the parties want. Without the amendment, the terms of the Escrow Agreement might work for the title company but could conflict or be different than what one or both parties understand the agreement to be. This of course, could result in a dispute (which we all want to avoid).

Have a great Holiday season and rest of 2025. We are looking forward to 2026 and think it will be a good year. Thank you to all of our terrific clients and all of our wonderful employees who have supported us in 2025.  See you next year! 

Fall 2025

Just a quick note for this newsletter. I hope everyone has had a good summer and is ready for fall. This time of year always leaves people wondering how the rest of the year is going to go. That is especially true now with mortgage rates up in the air and the real estate market still facing difficult challenges and some uncertainty. 

During times like this, it is important to keep working hard (maybe even harder) and do what you know works best for you, because there’s always some business out there. Whether because of divorce, a death, or financial reasons, some properties must be sold and they eventually find a buyer. But the key is to keep working. 

Every person I know who is successful is a hard worker. I am convinced that it’s not intelligence, talent or even education that count the most. Those things help, but perseverance, patience, and hard work will always win out over those that use education or ability as a crutch. We all know very smart and talented people who are NOT successful. Many say that they want to leverage their time, work smarter not harder, or “Hey, I want to have a life too, you know”, and many other things. I hate to break it to you, but someone has to take the pressure, make sure things get done, and put in the work, and that someone is you.

Have a great fall and don’t eat too much Halloween candy (or go ahead if you want, I mean it’s a free country). I wish all of you much success and thanks so much for subscribing.