Statewide Expertise

With a service network spanning Kentucky, Florida, Ohio, and Indiana, we bring local insights and high-quality service no matter your location. Whether you’re navigating complex regulations or meeting regional requirements, our team delivers consistency and reliability every time.

Tips for a Seamless Closing Experience

The closing process doesn’t have to be stressful if you follow a few key strategies. Here’s how to make the experience efficient and worry-free while benefiting from our tools and expertise:

Communication is Key

Clear and continuous communication is vital during a real estate closing. At Perpetual Title, we facilitate open dialogue through cutting-edge communication tools that keep every stakeholder informed, from the buyer and seller to agents and lenders. Honest updates and prompt responses help eliminate misunderstandings and last-minute surprises.

Prepare Your Documents Early

Taking time to gather necessary documents can save you significant delays later. Perpetual Title assists clients in assembling essential paperwork, ensuring everything is complete before the closing date. With our expert assistance, you’ll avoid surprises and move through the process more efficiently.

Understand the Steps

One of the most intimidating aspects of closing is not knowing what to expect. Understanding each step upfront can replace confusion with confidence. Perpetual Title walks you through the specifics of the process—from initial agreements to final signatures—so you’re never unsure about your progress or next actions.

Take Advantage of Personalized Support

At Perpetual Title, personalized support isn’t just a promise—it’s a cornerstone of everything we do. Whether you’re working through complex issues or simply seeking reassurance about small details, our adaptable, solution-focused team is ready to offer guidance. Don’t hesitate to lean on us if you encounter questions or concerns.

The post Navigating the Closing Process: Tips for a Seamless Experience first appeared on Perpetual Title.

Educational and Career Journey 

Brenda started her career as a Real Estate Foreclosure Paralegal in 2011, immersing herself in the intricate details of property law and foreclosures. Her journey in the legal landscape began even earlier, in 2003, when she started working at a law office and developed a keen interest in probate and real estate law. 

Role and Responsibilities at Perpetual Title 

As a Title Coordinator at Perpetual Title, Brenda’s day-to-day responsibilities involve review of title searches, examining chains of title, and the clearing of any liens against properties or involved parties. She also handles obtaining crucial payoffs and HOA information, all of which are essential elements in ta smooth, problem-free closing. 

Inspiration to Pursue Real Estate Law 

Brenda’s deeper dive into real estate law was sparked from her early years working at a law office. The complex challenges and the direct impact of her work on clients’ lives fueled her passion for this field. 

The decision to join Perpetual Title was influenced by her professional connections—specifically, a respected attorney she previously worked with who made the move to Perpetual Title. His positive experiences and recommendations made her transition a seamless and appealing one. 

The Culture at Perpetual Title 

Describing the company culture as positive, professional, and client-oriented, Brenda finds Perpetual Title a nurturing place where client satisfaction and professional integrity are paramount. 

Any real estate pro will tell you – no two closings are alike. That’s fine with Brenda. The uniqueness of each project keeps her role challenging and interesting, demanding a tailored approach to each case. 

Favorite Part of Her Job 

The most rewarding part of Brenda’s role is navigating the complexities that lead to successful closings. She finds great joy in seeing sellers share their cherished memories during these moments, hoping that the new owners will treasure the homes as much as they have. 

Beyond the Office 

Beyond her professional endeavors, Brenda has a deeply personal story that drives her efforts to give back. Not widely known is her active participation in building homes with Habitat for Humanity and rehabilitating homes in memory of her uncle who tragically died in an airplane crash. Their second Habitat for Humanity build includes help from the University pf Louisville Football Team – Go Cards!  These experiences underscore her deep commitment to community service and personal resilience. 

Closing Thoughts 

Brenda Smith embodies a personal commitment to making a difference both in and out of the office. At Perpetual Title, she’s not just facilitating transactions; she’s crafting legacies and empowering new beginnings, ensuring every transition is as seamless and heartfelt as possible. Chip Ridge, owner of Perpetual Title, captures the essence of Brenda’s impact, saying, “Brenda is the backbone of our client service. Her unparalleled dedication and expertise not only make our clients feel valued and secure but inspire all of us here to strive for excellence. She truly is valued by client and colleague alike.” 

The post Meet Brenda Smith: Closing with Heart and Expertise first appeared on Perpetual Title.

The post Delivering Value: How Perpetual Title’s Unique Approach Changes the Game  first appeared on Perpetual Title.

Homeownership is a tremendous achievement! However, as exciting as this milestone is, one decision looms large: selecting a mortgage to suit your needs. Among the choices available, adjustable and fixed-rate mortgages stand as pillars in the mortgage landscape. Not sure which is right for you? Join us in exploring the intricacies of adjustable vs fixed-rate mortgages so you can make a well-informed decision. 

Key Differences Between Adjustable vs Fixed-Rate Mortgages 

What is an Adjustable-Rate Mortgage (ARM)? 

An adjustable-rate mortgage, or ARM, is a mortgage with an interest rate that adjusts periodically, usually every one to five years. The initial fixed-rate period can vary from one month to 10 years, depending on the terms of the loan. During this time, the interest rate remains the same, but after the initial period, the rate can adjust—up or down—based on market conditions. 

The benefit of an adjustable vs fixed-rate mortgage is that adjustable-rate mortgages typically have lower initial interest rates than fixed-rate mortgages. In the first few years of the loan, the monthly mortgage payment is lower, which can make homeownership more affordable. However, when the interest rate adjusts, so does the monthly payment. This means the monthly payment could increase if the interest rate goes up, causing homeowners to pay more overtime. 

What is a Fixed-Rate Mortgage (FRM)? 

A fixed-rate mortgage, or FRM, is a mortgage that has a fixed interest rate for the entire term of the loan, usually 15 or 30 years. The benefit of a FRM is the interest rate is locked in for the duration of the loan, which creates stability and predictability for homeowners. This means homeowners can budget accordingly and not worry about their monthly payment changing over time. 

The downside to a FRM is that the initial interest rate is usually higher than an ARM, which means the monthly payment will be higher. However, over time, if interest rates rise, homeowners with an FRM are protected from any increase in their mortgage payment. That said, if interest rates go down in the future, you won’t be able to take advantage of them unless you refinance your mortgage.   

When considering adjustable vs fixed-rate mortgages, think about how you’ll be impacted both short and long-term.

Factors to Consider When Choosing Between Adjustable vs Fixed-Rate Mortgages 

There are several factors to consider when choosing between adjustable and fixed-rate mortgages. One of the most important factors is your financial situation, including your income, debts, and credit score. Assessing your risk tolerance and future goals is also important. If you plan on owning your home for a long time, an FRM may be the best option. However, if you plan on moving in a few years, an ARM may be more suitable. 

To determine which option is best for you, it’s important to evaluate your situation and goals. Consider how much you can afford to pay each month, how long you plan on living in your home, and whether you’re prepared for the possibility of a higher monthly payment. While both types of mortgages have their pros and cons, ultimately the decision between an ARM and FRM will depend on your individual situation. 

Adjustable or Fixed-Rate Mortgages? Millennial Title is Here to Help 

When choosing between an adjustable and fixed-rate mortgage, it’s important to weigh the benefits and drawbacks of each based on your financial situation and goals. An ARM may be a good option for those who need a lower initial monthly payment, but are willing to accept the potential risks of a fluctuating interest rate. On the other hand, an FRM may be a better option for those who value stability and predictability in their monthly payments. Regardless of which type of mortgage you choose, make sure you have a team you can trust to support you.  

When you choose Perpetual Title, our staff is here to handle the closing of your new loan. We take care of everything: from ensuring the prior mortgage is paid-in-full and released to making sure the new mortgage is properly recorded. With our expertise and attention to detail, you can have peace of mind knowing the closing process will be stress-free and efficient. We are here to support you every step of the way, making your journey an easy and rewarding experience. 

Looking for more valuable information? Learn the steps to ensuring a successful home appraisal—which results in a lower interest rate for your mortgage—with our useful checklist! 

The post Adjustable vs Fixed-Rate Mortgages first appeared on Perpetual Title.

What is a Quitclaim Deed? 

A quitclaim deed is a legal document used to transfer ownership of property from one person to another. Unlike other types of title transfers, the process of using a quitclaim deed doesn’t require extensive paperwork or seemingly complicated legal procedures. That’s why it is sometimes used in straightforward title transfers such as doing a transaction with a trusted relative. At face value, it may sound like a quick solution for transferring titles, mainly because of its simplicity. It offers a straightforward approach, making it an attractive option for homebuyers looking for a hassle-free transfer of property. 

However, the surface benefits of a quitclaim deed are deceiving. In reality, the ability of the quitclaim deed to cut out the red tape is a double-edged sword. The steps the deed skips are the very things designed to protect the new owner! Suddenly, our earlier example of a straightforward transaction with a trusted relative isn’t so simple. If the original ownership is called into question, it could end in disaster for you. In effect, the quitclaim deed leads to unforeseen problems and potential disputes down the line. Let’s take a closer look at these issues. 

3 Red Flags of Quitclaim Deeds 

1. Lack of Guarantee and Legal Protections 

Using a quitclaim deed means accepting uncertainties about the ownership and limited legal protections. Unlike other warranty deeds or other policies, a quitclaim deed does not offer warranties or guarantees for the property title and instead transfers the property “as is.” This means the recipient of the property may not have any legal recourse if issues or disputes arise regarding the title’s validity. Thus, due diligence plays an important role in such transfers, which brings us to our next issue… 

2. Inadequate Due Diligence 

Due diligence plays a crucial role in any property transaction. Unfortunately, a quitclaim deed does not provide sufficient information about the property’s history. This means they do not have the benefit of having a title expert to conduct thorough research about the property’s potential problems, such as unpaid taxes, boundary disputes, or undisclosed restrictions. 

Using a quitclaim deed could put you at risk of facing overwhelming, and potentially expensive problems down the line.

3. Limited Recourse and Legal Remedies 

In the event of a dispute, there are limited recourse and legal remedies available. If issues arise after the transfer, resolving them can be challenging and may involve a lengthy and costly legal process. This is because the lack of warranties and guarantees in a quitclaim deed leaves the recipient responsible for any financial and legal consequences resulting from undisclosed problems or disputes. 

The Role of a Professional Title Company 

Using a quitclaim deed is risky. There is a better way. Seeking the assistance of a professional title company like Millennial Title means working with experienced professionals. They’ll guarantee a smooth transfer process by conducting thorough research, identifying potential issues, and providing the necessary legal protections so you have peace of mind. 

Trust Perpetual Title to Have Your Interests at Heart 

While a quitclaim deed may seem like a convenient option for transferring property titles, the dangers involved can lead to significant problems in the future. When you choose a title company like Perpetual Title, you ensure a secure and reliable transaction.  

Don’t take unnecessary risks with your property transfer—opt for the safeguards and assistance only a title company can provide. Reach out to Perpetual Title today to learn more about our professional services and how we can help you navigate the complexities of the title transfer process. 

The post The Dangers of Using a Quitclaim Deed first appeared on Perpetual Title.

While some of these factors are out of your control, there are steps you can take so your home is more likely to be valued higher. In this blog post, we will explore the importance of home appraisals and provide a comprehensive home appraisal checklist to help you maximize the value of your home during this evaluation. 

Importance of Home Appraisals 

Getting a home appraisal offers benefits for both sellers and those looking to refinance. If you’re refinancing a mortgage, a better home appraisal will result in a potentially lower interest rate, lower monthly payment, and a shorter payoff term. If you’re a seller, it provides you with an accurate estimate of your home’s value, allowing you to set a competitive listing price. Furthermore, an accurate appraisal attracts potential buyers and increases your chances of securing a better deal. 

Preparing for a Home Appraisal 

Proper preparation is essential to ensure your home is presented in the best possible light during the appraisal process. Here are some tips to help you be ready: 

• Improve the Condition: Take the time to address any necessary repairs or maintenance tasks. Fix leaky faucets, replace broken light fixtures, and touch up paint where needed. A well-maintained home leaves a positive impression on the appraiser. 
• Enhance Curb Appeal: First impressions matter. Spruce up your home’s exterior by mowing the lawn, trimming bushes, and adding colorful flowers. A well-manicured front yard significantly impacts the overall appraisal value. 
• Clean and Declutter: Ensure your home is clean, decluttered, and properly staged. Remove personal items and excess furniture to create a more spacious, inviting atmosphere. 
• Document Upgrades and Renovations: Make a list of any recent home improvements, upgrades, or renovations. Provide documentation, including receipts and permits, to showcase the added value. 

Selling or Refinancing, Perpetual Title is Here to Help! 

A home appraisal is a crucial step in both the home selling process and refinancing a mortgage. By understanding the importance of home appraisals and properly preparing for them, you can maximize the value of your home. And be sure to use our checklist to prepare your home for appraisal. Remember, professional assistance from the experts at Perpetual Title is just a click or a call away. Contact us today to make the most out of your selling or refinancing experience. 

The post Maximizing Value: A Home Appraisal Checklist first appeared on Perpetual Title.

The Rise of Artificial Intelligence in Real Estate 

AI technologies have become increasingly prevalent in the real estate industry, revolutionizing traditional practices. Real estate agents can now tap into cutting-edge tools to streamline their operations and provide better services to clients. Embracing these advancements is essential for staying competitive in today’s rapidly evolving market. So, how do you go about adopting these tools yourself? 

3 Emerging Ways to Utilize Artificial Intelligence in Real Estate 

1. Transforming Workflow with Generative AI

Generative AI refers to a system which recognizes patterns in real world data and then creates new materials from its understanding of those patterns. You may already be familiar with one such AI system, ChatGPT.  According to the National Association of Realtors (NAR), generative AI is an exciting application of artificial intelligence in real estate that “allows for the automated creation of tasks including listing descriptions, marketing content, and more.” Real estate agents have the freedom to create virtual tours, generate realistic property renderings, and even design customized floor plans. These immersive experiences enhance client engagement and provide a deeper understanding of properties, leading to more successful transactions. 

2. Unlocking Insights with Predictive Analytics

Predictive analytics empowers real estate agents to make data-driven decisions. Like generative AI, predictive analytics has the ability to find patterns; however, instead of applying these patterns to create raw content, it leverages historical data, market trends, and algorithms to make informed predictions. This allows agents to accurately predict property values and identify emerging market trends. As The Motley Fool points out, you’ve probably already seen how this AI is utilized by popular online real estate marketplaces Zillow and Redfin as both use predictive analytics to generate property estimates. This ability to foresee market fluctuations enables agents to offer valuable insights to clients both investing in commercial real estate and in the residential market, therefore positioning them as trusted advisors. 

3. Improving Property Inspections with Computer Vision

Computer vision is a powerful branch of artificial intelligence which automates image recognition and enhances property inspections. Computer vision uses deep learning to analyze visual data. As NAR puts it, “if AI [from a fundamental level] allows a computer to think, a computer vision allows them to see.” By utilizing this specific type of artificial intelligence in real estate, agents streamline the process of property inspections and quickly identify issues and potential risks through automated analysis of visual data. This saves time and resources while ensuring thorough examinations.  

Advantages of Implementing Artificial Intelligence in Real Estate 

Artificial intelligence in real estate cannot be ignored as it continues to make a positive impact on the industry. Real estate agents who embrace these modern innovations gain a competitive edge in a rapidly changing market. By harnessing generative AI, predictive analytics, and computer vision, agents enhance their workflow, provide immersive property experiences, make data-driven decisions, and improve overall client satisfaction. 

At Perpetual Title, we pride ourselves on being at the forefront of the real estate industry’s latest advancements. To learn more about real estate’s emerging technologies, check out our informative blog on more real estate technology trends to keep an eye on. Further your knowledge and never miss out on the opportunities presented by the dynamic intersection of technology and real estate. 

The post How Artificial Intelligence in Real Estate is Enhancing Workflow first appeared on Perpetual Title.

2023 Commercial Real Estate Trends 

Asset Class Breakdown 

Depending upon what asset class you are working with, your success in the market could vary greatly since each one has its own unique challenges. Let’s compare which asset classes are succeeding or struggling: 

What’s Working 

Multifamily Housing: According to Moody’s Analytics, multifamily housing has continued to fair well over the last couple of years, with developers continuing to add to the ever-growing supply. Where the national vacancy rate was 4.5% at the end of 2022, the median vacancy rate was 3.9% in April 2023.  

Industrial and Retail: Along with apartments, National Association of Realtors® Chief Economist Lawrence Yun pointed to industrial and retail class assets as  keeping the commercial real estate industry relatively stable. Between industrial and retail real estate, 361 million square feet and 64 million square feet of net positive absorptions, respectively,  were added between May 2022-2023.  

What’s Not 

Office Space: The COVID-19 pandemic created a wave of change for how businesses approach work that still has an impact on the commercial real estate market today. With remote and hybrid office work remaining an increasingly popular option, the demand for office space has dwindled. According to JPMorgan, although A-class properties with leases of 10 years or more are performing well, B- and C-class offices with shorter leases could struggle.  

Taking in these considerations along with the impact of the increasing interest rates from the government, Yun estimates that the commercial real estate transaction volume will overall decline in 2023 by 27%.  

One of the commercial real estate trends we’re seeing in 2023 is the reduced use of office space.

Other Real Estate Trends to Follow 

Life Science on the Rise 

Life science real estate, including laboratory and research facilities, is an emerging asset class that is gaining interest from investors. Stemming from the pandemic’s uncovered need for proactive medicine development, this type of real estate is expected to be prominent throughout 2023 as the demand for medical research facilities and specialized properties grows.  

Keep Technology Top of Mind 

In his article for Forbes, 15-year commercial real estate veteran Ryan McKenzie slated the impact of technology as one of the top 2023 real estate trends to follow. We’re beginning to see a significant shift towards the use of advanced technology within both residential and commercial real estate. Virtual property tours are becoming more popular as they allow investors and tenants to view properties remotely and the use of blockchain enables secure, transparent, and efficient transactions. 

Perpetual Title Tip: Want to learn how Perpetual Title has innovated when it comes to real estate technology? Discover how we helped deliver the world’s first place to buy and sell U.S. real estate using cryptocurrency.  

Make Commercial Real Estate Trends Work for You 

While there are challenges and uncertainties within the commercial real estate space, there are also unique opportunities and trends worth capitalizing on. To navigate the market successfully, investors and other stakeholders should stay informed about these real estate trends and remain open to changing circumstances. By doing so, they position themselves for success in the dynamic and evolving world of commercial real estate. Ready to learn more? Gain greater confidence by learning how to use commercial reals estate as an inflation hedge. 

The post 2023 Commercial Real Estate Trends: Planning for the Future first appeared on Perpetual Title.

What is a Closing Disclosure? 

A Closing Disclosure is a five-page document which outlines the final terms of your mortgage loan. It includes important information such as the loan amount, interest rate, monthly payments, and other closing costs. 

This document provides transparency and clarity to homebuyers about the costs from the lender associated with their mortgage loan before they go through with the purchase. This saves them from any surprises or hidden fees that may arise during the closing process.  

What to Look for on Your Closing Disclosure 

Under federal law, homebuyers must receive the Closing Disclosure at least three business days before the closing date. This gives homebuyers ample time to review the document and ask any questions they may have before finalizing the mortgage loan. Here are some of the key things to carefully look through as you make sure the Closing Disclosure is correct and matches your agreed upon mortgage loan application. 

1. Closing and Transaction Information: This is located at the top of page one and will include the names of the parties involved in the transaction and where the property is located. Double check that there are no spelling errors in your name, and that the property address is correct.  

2. Loan terms: This section includes important information such as the loan amount and the interest rate.  

3. Projected payments: This section outlines your estimated total monthly payments—including principal and interest—as well as any additional costs such as mortgage insurance or property taxes.  

4. Costs at closing: This section includes closing costs such as loan origination fees, title insurance, and appraisal fees. 

Perpetual Title Tip: Check out the American Land Title Association’s Closing Disclosure example for a visual guide on what to expect.  

What if There are Errors or Discrepancies in the Closing Disclosure? 

If you notice any issues on your Closing Disclosure, contact your lender immediately to get them corrected. It may delay your closing if there is a material change in the costs.  It’s crucial if you want to avoid issues down the road. If material changes need to be made, you’ll have three additional days before closing day to review the revised document. 

Millennial Title is Here to Help 

Understanding the Closing Disclosure is crucial for a successful closing day. By reviewing the document carefully and asking any questions you may have, you can be sure you’re fully informed about the costs associated with your mortgage loan. If you have any questions or concerns about the Closing Disclosure or the homebuying process, don’t hesitate to reach out to Perpetual Title for assistance. 

The post What is a Closing Disclosure and What to Do if There’s an Error? first appeared on Perpetual Title.

10 Home Buying Tips Every First-Time Homebuyer Should Follow 

1. Determine Your Budget 

Before you start shopping for a home, it is essential to determine your budget. This will help you narrow down your search and avoid wasting time looking at homes out of your price range. You can determine your budget by calculating your monthly income, expenses, and debts. You should also factor in the down payment— the National Association of Realtors lists 8% as the median down payment for homebuyers aged 23-31—closing costs, and other expenses associated with purchasing a home. 

2. Understand Your Needs vs Wants 

We’re not always honest with ourselves when it comes to what we need vs want in a home. Think through your priorities before looking at your options. What do you absolutely need? Maybe it’s extra bedrooms because you plan on having children, or a yard space for your dog to safely play in. Then, think about what would be nice to have in addition afterwards. It’s possible to get the best of both worlds, but establishing the difference between these two factors will help you find a home that realistically meets your criteria.  

3. Get Pre-Approved for a Mortgage 

Getting pre-approved for a mortgage makes the home buying process smoother. It will give you a clearer picture of how much you can afford as well as establish you as a serious buyer. According to Forbes Advisor, “Many real estate professionals won’t take on buyer clients if they haven’t already been pre-approved.” Thus, pre-approval is an important step and stepping-stone into the next part of the home buying process. 

4. Find a Real Estate Agent 

A real estate agent can help you navigate the home buying process and find the right home for your needs and budget. They can also provide you with valuable information about the local housing market, schools, and other amenities in the area. Remember, you can’t rely on the seller’s real estate agent to have your interests at heart. When choosing a real estate agent, make sure to do your research and find someone who is knowledgeable about the area you’re looking at. 

5. Research the Neighborhood 

When buying a home, research the neighborhood to ensure that it’s a good fit for you and your family. Consider factors such as the crime rate, schools, public transportation, and proximity to grocery stores and restaurants. You can also talk to neighbors and visit the area at different times of the day to get a better sense of what it’s like to live there. 

6. Attend Open House Tours 

Attending open house tours is an excellent way to get a feel for different homes. It will also give you an opportunity to ask questions and learn more about the homes you are interested in. When you go, make sure to take notes and ask the real estate agent any questions you may have. 

7. Get a Home Inspection 

No one wants to buy a home only to be caught by a nasty surprise. Getting a home inspection will help you identify any potential issues with the home before you make an offer. A home inspection can also give you leverage during price negotiations. 

8. Negotiate the Price 

Once you have found a home, it’s time to negotiate the price. Your real estate agent can help you with this process and ensure that you get the best deal possible. When negotiating price, consider factors such as the home’s condition, local housing market, and the seller’s motivation to sell. Try not to go over your budget if you must be competitive in your offer. You may love the home, but extending past your reach causes unwanted financial difficulties down the line. 

9. Buy Homeowner’s and Title Insurance 

These two things are must-haves if you want to protect your home from unforeseen issues. Your homeowner’s insurance is required by the lender and will pay for things that happen during ownership, such as repairing or rebuilding your house after a disaster. Title insurance protects you from things that happened before buying the property, such as failed property tax payments by the previous owner.  

10. Close the Deal 

Once you have agreed on the terms of the sale, it’s time to close the deal. This involves signing a contract and paying the down payment and closing costs. Carefully read through all the paperwork before signing to ensure you don’t agree to anything you aren’t aware of. Remember that your real estate agent can help explain any questions you may have during this process.

One Extra Tip: Enjoy Your New Home! 

Using these 10 home buying tips, you’ll be well on your way to finding the perfect place to call yours. At Perpetual Title, we’re here to support you through every step of the home buying journey, even the steps that come after closing. Continue your path to success by learning the dos and don’ts of what to do after closing. 

The post 10 Home Buying Tips for First-Time Success first appeared on Perpetual Title.