Explaining the title process to an average buyer can be tricky for any title officer, but the difficulties may be magnified when a buyer speaks another language or comes from another country. Ohio Real Title closer Joseph Rusnak experienced this lesson firsthand when he assisted with the recent closing of a refugee family from the Congo.
Remax Trinity Realtor Judy Makaryk Rosen, who uses Ohio Real Title for many of her transactions, explains the family was able to purchase the Northeast Ohio home through a Catholic Charities homeownership program. A past client of Makaryk Rosen’s was willing to buy a home for the refugee family, and Third Federal bank was then able to “flip” the loan into the refugee family’s name.
Under the direction of Escrow Coordinator Traci Crooks, Ohio Real Title helped pull everything together for the second closing just two weeks after the initial purchase.
“The amazing part was the last-minute details at Ohio Real Title,” Makaryk Rosen says. “We had to close on a certain day so the family could move in that weekend. We didn’t get the ‘clear to close’ from the lender until 4:30 p.m. the night before the closing. Traci was totally on top of every detail.”
Understanding concepts such as title insurance, which goes along with every transaction because it’s required by the lender, can be difficult to explain, Rusnak says. “The way I try to explain it is, with any other insurance you may have such as life insurance or auto insurance, those deal with an even that may occur in the future. Title insurance deals with an event that may have occurred in the past, such as a forged name on a deed.”
Rusnak was struck by the tremendous support the refugee couple had from extended family and friends in the area, many of whom showed up on the closing day to tour the new house.