Episode 026 – Interview w/ Marisa Azra and Tony Taranto
Welcome back! In this episode of the podcast, we’re taking a look at an often-times misunderstood aspect of the real estate transaction: Title Insurance. To start off though, Ron and Tom discuss the news of the day — a story regarding the CEO of Redfin being “freaked out” by the lack of inventory out in the market. They discuss why inventory is such a growing problem and why Redfin is ill-prepared to deal with it. They then bring in their guests, Marisa Azra and Tony Taranto of Chicago Title Company, who take us through the process and explain what exactly title is. At its most basic, it means “Do the people who are selling me their home — actually own it?” Tony and Marisa explain that title insurance is insurance that protects a homeowner should anyone come along later and claim that they have a right to the property. We then chat about how the process has changed through the years through the incorporation of technology. We then talk about the several types of Title Insurance and how each one affects/protects each type of transaction. The conversation then moves into potential problems that can happen in title and how they can be resolved (Quiet Title Action). We then wrap up with a conversation about the worst “horror stories” they’ve seen in their experience. It’s an incredibly fascinating and educational episode — and pretty fun, too! We hope everyone enjoys it and leaves lots of comments below!