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Industry News

Denver title company gifts trees to paperless agents

August 31, 2005

Linked title commitments come with free sapling

Inman News

A Denver title company is giving away a free blue spruce sapling to buyers and sellers in transactions whose agents are receiving linked title commitments instead of hand-delivered paper, the company said today.

Land Title Guarantee Co., one of Denver's oldest title insurance companies, is giving the 12-inch saplings to buyers and sellers in transactions that are either residential resales or builder's new-home purchases.

The buyer or seller's agent must have elected to receive linked title commitments versus hand-delivered paper, the company said.

The giveaway is in sponsorship with the National Arbor Day Foundation and in cooperation with Denver's ReThink Recycling Program, Land Title said.

"Paperless transaction management for land, commercial and residential contracts allows 24-hour data access, ends hand delivery delays" and decreases paper pollution, the company said in a statement.

"We estimate we will give away 10,000 live Colorado blue spruce trees by October 2005. No mountain of paperwork is too high when it comes to streamlining the transaction process for our customers," said Brian Hamilton, senior vice president, Land Title.

Zoe Sawyer, vice president of associate development for RE/MAX Southeast, said that in a typical month, the company receives on average 300 title commitments on the listing and buying side.

"The amount of paperwork is outrageous. When the initial title work with the corresponding decks of covenant is delivered, it's as big as the metro Denver yellow pages. Then, that individual hand delivered set of documents requires our telephone follow up to corroborate receipt by all parties to the transaction to ensure we have fully complied with all contractual terms. That's a time-consuming, labor intensive process and, for the most part, an unrecoverable operating expense," Sawyer said.

Hamilton said the company can now provide 24-hour access to all linked documents online, including 24-month chain of title, tax certificates, vesting deeds, B-2 exceptions and plat maps.

"We're providing immediate delivery of all pertinent documents as soon as they're available to eliminate any delays from couriers or overnight delivery," Hamilton said.

Hamilton claimed that the company's TMX system "enables our clients to access and manage every aspect of their transaction online so they benefit from streamlined communication, ease of ordering, convenient information retrieval and access to live updates."

Copyright 2005 Inman News

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