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Feature Member

Advancing the real estate process

April 8, 2008
By ALISSA EATON - aeaton@sungazette.com
Vickie C. Ireland opened Advanced Real Estate Settlement Services Inc., in 1996 and has been helping people get title insurance ever since then.

The business is located at 202 S. Market Street in South Williamsport.

“An experienced title insurance agent combined with a reputable title company can make your settlement fast and effective,” Ireland said.

Her business is affiliated with Old Republic a National Title Insurance Company.

For 14 consecutive years, Old Republic National Title Insurance Company has received Standard and Poor’s highest rating awarded to a title insurance company.

Essentially what Ireland does is sell title insurance. Title insurance is defined as insurance against financial loss from defects in title to real property and from the invalidity or unenforceability of mortgage liens.

“Title insurance protects you against mis-issues in your title to your property — such as inheritance taxes, IRS liens, mortgages, unpaid taxes or unpaid sewer bills,” Ireland said.

When clients come to Ireland, she can help them understand how much an Owner’s Title Policy will cost a home buyer.

“Without an Owner’s Title Policy, you are not covered and you could end up paying someone else’s debt,” Ireland said.

Banks and lenders require that customer’s get a Lender’s Policy but owners are not protected under that policy, only lender’s are, Ireland said.

Both title insurances, Owner’s Title Policy and Lender’s Title Policy are priced depending on the purchase price of the home, is set by the state of Pennsylvania and is a one time fee.

“The good thing about a Owner’s Title Policy is that it guarantees you for as long as you own it,” Ireland said.

Ireland said that when shopping around for a title insurer, there are several things a prospective home buyer should keep in mind — the first being that you can indeed shop around.

“Because of unfamiliarity with this kind of insurance, consumers often rely on referrals from lenders or real estate professionals who are part of the home-buying transaction; but this could cause a conflict on interest if those making the decision have a financial interest in a particular title company,” an excerpt from the insurance commissioner of the commonwealth of PA, reads.

“There are a lot of banks and real estate offices that have affiliated business arrangements and title insurance is fixed by the commonwealth of Pennsylvania so you won’t pay anything more for the title insurance itself than what the cost is,” Ireland said.

“If you end up using the bank’s closing company you could end up with a problem that isn’t fixable,” she said.

Ireland said that because of the unfamiliarity with the insurance, people don’t know they have options and they don’t have to use the title company that is recommended to them by their lender.

Ireland loves the research part of her job.

She goes to the courthouse and researches each deed to find out if there are any liens or mortgages against a property.

“I consider myself the gate keeper, so if you are using me for your closing I will treat your money like it is my own,” Ireland said.

She also works with first-time home buyers and she said they can call her at any hour of the day.

“If I am not here I will return their phone call before 10 p.m. that night and they can ask me any questions they need to,” Ireland said. “I feel good about that.”

Ireland said that many times the deeds have restrictions on the land that people may not know about.

So she makes sure that she researches each piece of property and reports any findings to the person who is purchasing the home.

“With one of my customers, I found a covenant that said he couldn’t use the property to house a convenience store, so I made sure to call him to tell him that, so in case he was thinking about that, he should not buy the property,” Ireland said.

And Ireland has a lot of experience and has closed an average of 508 properties per year since she opened, closing 6,100 since 1996.



Testimonials:



“In my line of work, I see closings that Advanced Real Estate Settlement Services handles on a weekly basis. What impresses me most about Advanced is their attention to detail. Vickie Ireland and her staff bring years of experience to the closing table.

“When I went to close my home recently, I wanted that kind of experience and attention to detail. That is why I chose Advanced to handle my closings.”

-Rennie Rodarmel Jr. Agency



“Vickie closed the purchase of our home in 1996 and was a tremendous help during the recent refinance of our home. Of course, she was efficient, went the extra mile to make the process enjoyable and took care of all hurdles. No wonder she had our repeat business.”

-Dr. Vijay-Kumar Rekhala

Article Photos

ALISSA EATON/Sun-Gazette
Beaty Hall, of Jersey Shore, and Vickie C. Ireland work together to discuss the details of a real estate closing.

 
 
 

 

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