I have been involved in real estate in one form or the other for over twenty years. It all started in 1990 when I started my first\u00a0real estate related\u00a0job\u00a0working for a \u00a0title company in Michigan while going to law school.\u00a0 I learned how to search titles the old fashioned way – manually through the\u00a0libor books.\u00a0 If you don’t know what a libor book is, think of a book that is a couple of inches thick, but about the\u00a0size of a\u00a0desk – and no, I am not exaggerating.\u00a0 I would manually look through book after book until\u00a0I traced the property\u00a0up to the current date.\u00a0 Although very interesting to look through the books, some being\u00a0well over a hundred years old,\u00a0it was very inefficient compared to today’s standards.<\/p>\n
Fast forward to today, and the manual form of title searches seems a bit out dated.\u00a0 Today, the process is done on computers and the internet.\u00a0 Rarely are the original libor books ever consulted.\u00a0 The title searches are done on computer by the underwriters, and then emailed to my office.\u00a0 The closing documents are, of course, generated on the computer also, and often times emailed out for signatures.<\/p>\n
To say the process has changed in twenty years is an understatement.\u00a0 I expect in the not too distance future,\u00a0we will see deeds and closing documents that are electronically signed and recorded.\u00a0 In a few short months the clerks are requiring e-filing for all lawsuit filings.\u00a0 I am sure e-filing will not be too far the future for the real estate world.<\/p>\n
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I have been involved in real estate in one form or the other for over twenty years. It all started in 1990 when I started my first\u00a0real estate related\u00a0job\u00a0working for a \u00a0title company in Michigan while going to law school.\u00a0 … Continue reading