Proactive vs. Reactive
We adhere to a proactive philosophy in handling REO properties at Palmetto State Title & Escrow, LLC. The client’s needs are what drive our services and we tailor our services so that they meet the client’s expectations and needs for each situation. Although clients order files in many ways, we usually receive our new orders one of two ways:
- Order is received and a file is opened after a contract has been submitted and accepted; at which time we order the title search on the property. Although this scenario certainly adds the element of time constraint, we still take every effort to discover and cure any issues that are identified as soon as possible to minimize any possible delays in meeting the closing deadline.
- Order is received and a file is opened immediately after the foreclosure action is completed. If a problem is identified, our staff works on rectifying that problem immediately. It is our goal to have clear title before we receive the contract for sale on every REO property. By clearing title before the property goes under contract we allow for a much more efficient, timely and predicable closing process.
Mobile Home Issues
In South Carolina, mobile homes are treated as personal property, separate and apart from the land. The requirements to properly secure a mobile home under a mortgage, and to properly foreclose upon a mobile home, are often not properly met due to the past inconsistency of mobile regulations coupled with a lack of knowledge in understanding this process in South Carolina. As a result, title defects with mobile homes are a common problem with REO management in South Carolina. Our staff is experienced in identifying and remedying such problems with mobile homes. We, take an aggressive approach to finding solutions to the problems that arise to achieve positive results in the most time-effective and cost-efficient manner. In cases where the mobile was properly foreclosed upon, our office can also obtain the mobile home titles (or duplicate title, if needed) for our clients prior to closing to avoid problems and delay.
We provide REO services for our clients on a statewide basis. Our office is located in Columbia, South Carolina which lies in the center of the state. This location makes it economically feasible to provide services to all areas of the state. Our in house attorneys also offer discounted closing attorney fees to buyers of REO properties. This helps to avoid problems that inevitably arise with law firms that are inexperienced with the aspects of REO properties. We have found that the closing process is much easier and efficient when our company and attorney are involved on both sides in the closing.
We strive to keep our clients happy by making ourselves as readily accessible as possible via the office phone, cell phone and email. Unfortunately, there are times when a client does have to leave a message, but we promptly return all phone calls and provide up-to-date information concerning the status. We understand the unique nature of REO management and the importance that the properties be processed as quickly as possible. We concentrate on personal service to establish strong relationships with our clients in order to provide them with the security of knowing that their properties are in the best capable hands.