November 2010
From The Publisher
Real Estate Can Be an “Odd” Business Sometimes
First, thanks to all of you who came out for this year’s H.A.R. Expo and visited the team and I at Booth #118! Congratulations to Mr. Don Burns/RE/MAX Heritage, the winner of the “Republic of Texas $100 Bond (circa 1840)” and Mr. Marc Nguyen of Perry Homes, the winner of the Exhibitor “Spa Package”!
Many thanks as well to Mr. Brent Bogus of The Gold Exchange and Texas Commemorative (www.TexasCommem.com) for generously offering the certificate for our prize. I think that these certificates and/or historical coin sets would make INCREDIBLE client closing and holiday gifts, don’t you?
As a former Realtor® myself in Orlando, Florida and having interviewed over 100 of you for the cover honor, I come to realize just how “odd” and challenging our business can be. This is particularly true in the Title business.
Take this story that I received from a dear friend of mine in Tierra Verde, Florida (a RE/MAX Broker/Owner), Dan Harrington; I think that this perfectly proves just how “odd” it can be (in kind of an ironic way):
Part of rebuilding New Orleans caused residents often to be challenged with the task of tracing home titles back potentially hundreds of years. With a community rich with history stretching back over two centuries, houses have been passed along through generations of family, sometimes making it quite difficult to establish ownership.
Here’s a great letter an attorney wrote to the FHA on behalf of a client:
You have to love this lawyer........
A New Orleans lawyer sought an FHA loan for a client. He was told the loan would be granted if he could prove satisfactory title to a parcel of property being offered as collateral. The title to the property dated back to 1803, which took the lawyer three months to track down. After sending the information to the FHA, he received the following reply.
(Actual reply from FHA):
“Upon review of your letter adjoining your client’s loan application, we note that the request is supported by an Abstract of Title. While we compliment the able manner in which you have prepared and presented the application, we must point out that you have only cleared title to the proposed collateral property back to 1803. Before final approval can be accorded, it will be necessary to clear the title back to its origin.”
Annoyed, the lawyer responded as follows:
(Actual response):
“Your letter regarding title in Case No.189156 has been received. I note that you wish to have title extended further than the 206 years covered by the present application. I was unaware that any educated person in this country, particularly those working in the property area, would not know that Louisiana was purchased by the United States from France in 1803, the year of origin identified in our application. For the edification of uninformed FHA bureaucrats, the title to the land prior to U.S. ownership was obtained from France, which had acquired it by Right of Conquest from Spain. The land came into the possession of Spain by Right of Discovery made in the year 1492 by a sea captain named Christopher Columbus, who had been granted the privilege of seeking a new route to India by the Spanish monarch, Queen Isabella. The good Queen Isabella, being a pious woman and almost as careful about titles as the FHA, took the precaution of securing the blessing of the Pope before she sold her jewels to finance Columbus’s expedition. Now the Pope, as I’m sure you may know, is the emissary of Jesus Christ, the Son of God, and God, it is commonly accepted, created this world. Therefore, I believe it is safe to presume that God also made that part of the world called Louisiana. God, therefore, would be the owner of origin and His origins date back to before the beginning of time, the world as we know it, and the FHA. I hope you find God’s original claim to be satisfactory. Now, may we have our loan?”
Certainly, our cover story this month, Monica Vaca of The Houston Real Estate Group can attest to just how “odd” and challenging this business can be. Many thanks to Dror and Helene Zadok of Zadok’s Jewelers for the loan of the beautiful jewelry that Monica is wearing in the cover photo.
You will enjoy her story!
As always,
Good Reading, Good Sales and may you and your family have a wonderful and safe Thanksgiving Holiday!
Steve Levine
Publisher
First, thanks to all of you who came out for this year’s H.A.R. Expo and visited the team and I at Booth #118! Congratulations to Mr. Don Burns/RE/MAX Heritage, the winner of the “Republic of Texas $100 Bond (circa 1840)” and Mr. Marc Nguyen of Perry Homes, the winner of the Exhibitor “Spa Package”!
Many thanks as well to Mr. Brent Bogus of The Gold Exchange and Texas Commemorative (www.TexasCommem.com) for generously offering the certificate for our prize. I think that these certificates and/or historical coin sets would make INCREDIBLE client closing and holiday gifts, don’t you?
As a former Realtor® myself in Orlando, Florida and having interviewed over 100 of you for the cover honor, I come to realize just how “odd” and challenging our business can be. This is particularly true in the Title business.
Take this story that I received from a dear friend of mine in Tierra Verde, Florida (a RE/MAX Broker/Owner), Dan Harrington; I think that this perfectly proves just how “odd” it can be (in kind of an ironic way):
Part of rebuilding New Orleans caused residents often to be challenged with the task of tracing home titles back potentially hundreds of years. With a community rich with history stretching back over two centuries, houses have been passed along through generations of family, sometimes making it quite difficult to establish ownership.
Here’s a great letter an attorney wrote to the FHA on behalf of a client:
You have to love this lawyer........
A New Orleans lawyer sought an FHA loan for a client. He was told the loan would be granted if he could prove satisfactory title to a parcel of property being offered as collateral. The title to the property dated back to 1803, which took the lawyer three months to track down. After sending the information to the FHA, he received the following reply.
(Actual reply from FHA):
“Upon review of your letter adjoining your client’s loan application, we note that the request is supported by an Abstract of Title. While we compliment the able manner in which you have prepared and presented the application, we must point out that you have only cleared title to the proposed collateral property back to 1803. Before final approval can be accorded, it will be necessary to clear the title back to its origin.”
Annoyed, the lawyer responded as follows:
(Actual response):
“Your letter regarding title in Case No.189156 has been received. I note that you wish to have title extended further than the 206 years covered by the present application. I was unaware that any educated person in this country, particularly those working in the property area, would not know that Louisiana was purchased by the United States from France in 1803, the year of origin identified in our application. For the edification of uninformed FHA bureaucrats, the title to the land prior to U.S. ownership was obtained from France, which had acquired it by Right of Conquest from Spain. The land came into the possession of Spain by Right of Discovery made in the year 1492 by a sea captain named Christopher Columbus, who had been granted the privilege of seeking a new route to India by the Spanish monarch, Queen Isabella. The good Queen Isabella, being a pious woman and almost as careful about titles as the FHA, took the precaution of securing the blessing of the Pope before she sold her jewels to finance Columbus’s expedition. Now the Pope, as I’m sure you may know, is the emissary of Jesus Christ, the Son of God, and God, it is commonly accepted, created this world. Therefore, I believe it is safe to presume that God also made that part of the world called Louisiana. God, therefore, would be the owner of origin and His origins date back to before the beginning of time, the world as we know it, and the FHA. I hope you find God’s original claim to be satisfactory. Now, may we have our loan?”
Certainly, our cover story this month, Monica Vaca of The Houston Real Estate Group can attest to just how “odd” and challenging this business can be. Many thanks to Dror and Helene Zadok of Zadok’s Jewelers for the loan of the beautiful jewelry that Monica is wearing in the cover photo.
You will enjoy her story!
As always,
Good Reading, Good Sales and may you and your family have a wonderful and safe Thanksgiving Holiday!
Steve Levine
Publisher
November Issue: Table of Contents
2. From the Publisher
5. The Business of Real Estate
12. As I See It 13. News Worthy
16. Life, Business, & Money
17. Money Matters
18. Realtor Recommendations
19. Winners Circle
20. WCR News
5. The Business of Real Estate
12. As I See It 13. News Worthy
16. Life, Business, & Money
17. Money Matters
18. Realtor Recommendations
19. Winners Circle
20. WCR News
832.419.2814