The world around us is ever evolving, and in order to best serve our clients, we need to evolve with the times. We are always looking at how technology is changing the title space for the better (and for the worse) and adapting these changes to our role as we see fit. With that in mind, we want to use today’s blog to explore how we help clients navigate the due diligence process using 21st century technology.
Putting 21st Century Technology To Work For You
The due diligence period is the time between when an offer is accepted and closing, and it’s a critical time for ensuring many essential processes are completed so that you don’t run into any surprises that could tank the sale or hurt your finances. We can put new technology to work to streamline some of these essential processes, potentially saving you time and money. Here’s a look at some of the technology that many title service providers rely on.
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Drones - Getting clear aerial shots of a property to assist with boundary assessments or land surveys used to be difficult, oftentimes relying on planes to capture pictures from quite high up, which didn’t always result in the best images. Nowadays, you can obtain crystal clear images from an ideal height with the use of a drone.
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Encryption Systems and Scam Defense - The rise of the internet has only made it easier for scammers to impersonate a legitimate seller or try to intercept a wire transfer with a phishing email, so title insurance agents need to be wise about the systems they use to collect client information and funds. We do everything in our power to ensure our clients don’t fall victim to predatory practices or fraud attempts that can take place through electronic means.
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Record Digitization - It’s important to keep originals and copies of vital records in a safe location, but a flood, a fire or simply an oversight during the moving process can cause these hard copies to become lost forever. Nowadays, we work with clients to secure digital copies of important files that can be stored online, ensuring you always have access to your records with the click of a few buttons.
We want to put technological innovation to work for our clients to give them the best experience when purchasing commercial property, and we can do the same for you. For more information about any aspect of the commercial real estate purchasing process, reach out to the team at Commercial Partners today at (612) 337-2470.