Solution of the Month

At Silk Title Co., we don’t believe in dead ends. In fact, we have a proven track record of thinking outside the box to find innovative solutions when faced with unique file challenges. Today, we outline one such challenge from one of our lender clients and borrowers.  

Background: The Silk Title team and its lender client were working with a borrower in Florida on a routine home refinance. The borrower had recently installed a new in-ground pool in her backyard.

Problem: The state of Florida requires contractors to record a Notice of Commencement against a property for permitting purposes in cases when the contract value is greater than $2,500. The Notice of Commencement serves as a lien against the property. While the pool work had been completed and paid for by the borrower, the refinance was at a standstill because a signed Contractor’s Affidavit (release of the lien) was needed from the contractor to move forward and no one could get ahold of the contractor.

Silk’s Solution: The Silk Title team working on this file tried relentlessly to make contact with the contractor to obtain the signed affidavit using all the conventional contact methods. After a number of unsuccessful attempts, the team came up with the idea to find the contractor’s business website and submit a request to the Contractor through the pool quote link on the business website. This outside-the-box contact attempt was ultimately successful in that the contractor did contact Silk. Upon learning of the borrower’s situation, the contractor immediately complied and sent over the necessary documentation that same day.

Impact: The refinance went on to close with no other issues. The borrower expressed gratitude to the Silk Title team for its persistence and creativity in tracking down her contractor to resolve the issue at hand.

Do you have a challenging file that needs a solution? We are here to help explore all possible options. Contact hello@silktitleco.com.


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