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Giving Back With Every Paycheck and Closing!

October 11, 2022 by Staff Reporter

As we enter the season of giving, it’s important to reflect on the many ways our company impacts the community. Not only is it in Monarch Title’s mission to provide service beyond distinction to our clients, but also to serve and give back to our community.

Last month, you may have read about our check presentation to GP M.A.D.E. Foundation for their scholarship programs. Read on to learn about the other ways Monarch Title has given back to their community in 2021.

Employees Donate From Their Paychecks

Our employees are given the opportunity to donate a portion of their pre-tax income to one of the charitable organizations Monarch Title Company supports.

One organization is First Chance for Children. First Chance for Children provides early childhood programs and family resources to foster healthy outcomes for children and families in mid-Missouri. Some of the donations go towards their Lend and Learn program, their Safe Cribs or Baby Bags.

The second organization our employees can donate to is the Food Bank for Central & Northeast Missouri. They cover a 32 county region in Missouri that provides food to over 100,000 people a month!

Owners Serving On Boards

In addition to our employees giving back, our co-owners are also big contributors to mid-Missouri non-profit organizations. Chuck Bowman, CEO and owner, currently serves on five board of directors: First Chance for Children, Crimestoppers, Multiple Employer Welfare Arrangement, Rural Missouri Incorporated and the Missouri Land Title Association.

Pam Bowman, co-owner, currently serves as the co-chair of the GP M.A.D.E. Foundation’s annual golf tournament.

$5 Of Every Closing Donated

Monarch Title as a company also gives back to the community. $5 from every closing transaction is donated to the GP M.A.D.E. Foundation scholarship fund. Through quarter 3 of this year, Monarch Title was able to donate $10,000, which will help increase the number of scholarships for 2021 to 34, giving an additional 10 students scholarships this year!

Partner With A Title Company That Cares: Monarch Title

We know that the choice of a title company is up to the homebuyer, but often based on the recommendation of their real estate agent. If you are a homebuyer or real estate agent looking for your title insurance provider, please reach out to the caring team at Monarch Title Company. We have offices conveniently located in Columbia, Jefferson City, Boonville and Marceline, Missouri. Contact us or give us a call today!

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Things To Bring To Your Home Closing

August 10, 2022 by Staff Reporter

Your closing day has finally arrived! All the open houses, phone calls to Realtors, emails back and forth with your title insurance agent and lenders, plus many hours of paperwork have culminated in the closing of your home. With all the information sharing that has happened, it’s important to remember which documents and items are necessary to bring with you to your closing.

Things To Clarify Before Your Closing

Prior to closing, there are several things you will want to clarify. First, it is important to know who will conduct your closing. It is your choice on which title company you will use. Once you have selected one, be sure to write down the name and direct line for the person who will conduct your closing on closing day.

Next, you should clarify with your real estate agent or closer what items they have copies of, and which ones you will need to close. This is also the time to clarify the estimated amount due at closing, as you will have to present a cashier’s check or show proof of wire transfer at the time of closing.

Finally, ask your loan officer for guidance on which documents you need to have an understanding of prior to closing. The most important ones at closing are: Closing Disclosure; Mortgage/Deed of Trust; Promissory Note; Deed, document that transfers property ownership.

Things to Bring To Your Closing

As discussed in our other blog, there are several things you will need to have with you on closing day.

Valid driver’s License, State issued ID or Passport
Cashier’s Check OR Wire Transfer proof
Your co-borrower (non-borrowing spouse)
Reading glasses (if needed)
Blue pen (if you’d like to use your own)
A check (if not using wire transfer prior to closing day)

Most of the important documents will be brought to the closing by your agent or closer for you to complete signing.

Documents to Save After Closing

After you’ve completed all the paperwork, it’s important to keep copies! You will want to save copies of your closing statement, deed of trust, promissory note and deed. For security purposes, these will not be sent electronically by Monarch Title.

After closing, the last step is to remember to change your address. We suggest you start with your bank and credit card accounts, then focus on anything that is a bill (health insurance, car insurance, electric, loans, etc).

When You Choose Monarch, Nothing is Forgotten!

At Monarch Title, we are experienced at guiding homeowners through the closing process. We will make sure our closer prepares you before and after your closing, so that none of these things on your checklist are missed! Contact our team to start working with us today!

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Your Guide to Common Title and Escrow Claims

July 12, 2022 by Staff Reporter

The home buying process can be confusing — and not just for first time buyers! There is a bit of a language barrier for those outside our industry. In previous blogs, we have covered title insurance, cyber security tips, and complications in the home buying process. In this blog, we will cover closing escrow and common claims or issues that can arise.

Escrow: What Does It Mean?

In escrow, an earnest money deposit is paid as a way to protect all parties if the purchase cannot be completed for various reasons. That payment is held in escrow, usually 5-10 days from the fully signed contract until the day of closing. Once the purchase is final, the earnest money is applied to the buyer’s funds at closing.

The money is held to protect both parties and ensure all contractual conditions and home improvements are met prior to handing over the keys.

Depending on where you live, the middle man at this stage might be an individual escrow agent, an attorney, or a title company like Monarch Title Company.

Sending Earnest Money Prior To Escrow

In order to go into escrow, you need to make an earnest money deposit. This can be in the form of a personal check, a bank-issued check, or a certified check, each of which have their own particular process.

We know that running back and forth between the bank and your closing agent is difficult. That’s why Monarch Title Company provides a modern solution: online earnest deposits, which offer you the convenience of being able to process a secure payment online.

Common Escrow Claims

Certain issues or claims can arise that will cause you to “fall out of escrow.” These could be issues on the loan, on the property, or with the claim to ownership. There are a few common issues:

Home Inspection Shows Problems

Some of the most common problems that cause home buyers to fall out of escrow are unaddressed problems revealed with the home upon inspection. Most offers include a home inspection contingency, so that if the inspection reveals a serious problem, the buyer can back out without losing their earnest money deposit.

If the buyer decides not to back out, they will likely need to renegotiate who is responsible for the fixes, and it can delay the closing.

Financing Falls Through

Most savvy home buyers make sure to get a preapproved loan. However, situations can change. The interest rate could increase, the buyer could lose their job, or your credit score could go down, each of which can cause someone to fall out of escrow.

Issues With The Title

The title search happens during escrow. So if any issues arise with the title — unknown heirs having claim to the property, unknown liens that have been taken out, etc. — this would impact closing. We’ve covered issues that can come up during the title search extensively in previous blogs.

Monarch Title Can Help With Your Title And Escrow Claims!

No matter your situation at closing, Monarch Title Company can help! Our company has over 20 years of experience in the industry, and our closers have seen it all! There are other issues that can arise during the title and escrow process, too. Be sure to check out ALTA’s Title and Escrow Claims Guide as a resource, which is updated annually with the latest information on relevant cases and claims. But when in doubt, talk with a professional.

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How A 40 Year Old Company Built a Multigenerational Empire from Scratch

June 15, 2022 by Editor

How A 40 Year Old Company Built a Multigenerational Empire from Scratch

Starting a successful company is one thing. Making the right decisions to ensure that the company will thrive 100 years down the road is quite another. In many cases, business owners are so consumed by the daily grind of running a business that they don’t have time to work on the future of their business.

Many business owners are operating under the assumption that the next generation will have the same leadership capabilities as the founder. Succession requires careful planning as flying on a wing and a prayer and changing the engine on the plane at 30,000 feet is a less than ideal scenario.

“Each generation has unique abilities. Paving the way for the next generation to succeed requires a thoughtful approach to the smooth transfer of roles and responsibilities,” said Dan Loiacono, Managing Partner at DLA Companies, a Kansas City-based mergers and acquisition specialist.

It is far from a foregone conclusion that after future generations take the reins, the company will continue to be as successful as it was with past generations.

But the companies that do succession well are winning.

Case in point, Ben Romans started his tiny window, doors, and siding business back in the late 1960s, and from the very beginning was planning to build something that his whole family could grow into the next century and beyond.

When he passed the proverbial leadership “torch” to his daughter Brenda Walters, she picked up where he left off without missing a beat. The rest is history. Brenda has presided over one of the fastest-growing, largest locally-owned home improvement companies in Kansas City for the past 15 years.

“Now my talented daughter, working side by side with me for over a decade, has stepped up to take our company to new heights for the next 20 years,” said Brenda, who manages an average of over 500 home improvement projects a year for her family’s company.

One of the few women in a male-dominated industry, Brenda entered into this field with aspirations of following in her father’s footsteps, Ben Romans. She then promptly proceeded to transform Cornerstone Home Improvements into a woman-owned business by bringing her daughter into the fold in the most strategic way possible.

Me’Shelle Bishop, the granddaughter of founder Ben Romans and daughter of company president Brenda Walters, has been with the company since 2004. She paid her dues and moved up the ranks from front desk to Co-Owner in 2019.

Her mission is to be true to the original values that made the business successful in the first place. “We deliver to the homeowners a premium product at an affordable price with installation and service second to none,” said Me’Shelle.

Now that’s continuity.

This original feature story was written by Andrew Ellenberg, President and Managing Partner of Rise Integrated Marketing. To learn more about Cornerstone Home Improvements email meshelle@chi-kc.com or visit them here.

Missouri Real Estate Guide (Mar 2022) – When and Where to Buy Real Estate

March 16, 2022 by Staff Reporter

This update for Missouri in Mar 2022 covers four real estate markets:
1. Springfield Area, 49 Cities (01:21)
2. Jefferson City Area, 39 Cities (23:44)
3. St. Joseph Area, 30 Cities (46:07)
4. Cape Girardeau Area, 30 Cities (01:08:30)

If you want your city to be included in the next update, please leave a comment below.

This channel covers all 50 states and DC. The primary goal of the videos is to identify the times and places to buy a house for strong potential returns and relatively low risks. The timings are different for primary home buyers, investors, and short-term buyers such as whole sellers and flippers, and we will discuss them all in detail.

The foundation of the videos is statistical analyses of the relationship between the future returns of the real estate markets and the evolution of supply and demand situations driven by national and local economic factors. These factors include economic conditions, credit conditions, inflation conditions, monetary policies, and other elements that are fundamental to the real estate markets.

DISCLAIMERS
This video is not a solicitation, promotion, endorsement, recommendation, or offer to buy or sell a particular security, transaction or investment. Under no circumstances is any information in this video intended to be, nor does it constitute, personalized or individual investment advice. The past performance of a security, sector, market, asset, or financial product, whether actual or indicated by historical tests of investment strategies, is not necessarily indicative of future results and does not guarantee returns or success. The projections regarding the likelihood of various future investment outcomes are hypothetical in nature and not guarantees of future results, nor are they representative of any individual’s actual trading or investment experience. Investing carries substantial risks such as loss of capital. In no event shall we be liable for direct, indirect or incidental, special or consequential damages or losses resulting from the information obtained in this video. Please ask your advisor to explain all risks to you before making any trading and investing decisions.