Flueid Launches Solution to Expedite Title Clearance for Purchase Transactions
August 1, 2024
Flueid launched an integrated verification of title (VOT) solution that the company said can improve efficiencies for purchase transactions.
According to Flueid, the solution advances the traditional workflow by optimizing the title search and exam process. It also enables title providers and real estate agents to collaborate and proactively pre-clear a property of title issues when the property is initially listed for sale.
“Flueid believes title data should be accessible at every stage of a transaction for a more integrated, informed, and transparent transaction experience,” said Peter Bowman, co-founder and CEO of Flueid. “For purchases, our goal with VOT is to arm both title providers and real estate agents with a tool to provide consumers with a better, more certain home purchase experience. Now, title providers not only have the data-driven advantages of VOT for their workflow, but they can demonstrate to real estate agents the value of understanding and proactively tackling title issues upfront. This approach embodies our commitment to innovation and our mission to lead the future of title risk transparency.”
Like Flueid’s VOT solutions for refinance and home equity, the purchase offering utilizes two of Flueid’s complementary data products, TitleCheck for listing agents and TitleDecision for title agents and underwriters.
Real estate professionals can request an upfront TitleCheck from Flueid title providers to verify the condition of the title and identify any issues with the seller or property that may impact the sale. This enables the real estate agent to manage seller expectations and plan marketing initiatives, listing strategy, and pricing accordingly. If issues are uncovered with the title, real estate professionals can collaborate with the title provider to initiate the title curative process. Using the TitleDecision, the title provider digitally enhances search and examination and is alerted to all the items at the start of their process that need to be addressed.
“The integrated and proactive VOT for purchase process ensures title certainty for all parties,” added Priscilla Flake, vice president of product for Flueid Decision Derivatives. “This helps grow a real estate agent’s business, and increases capture ratios and volumes for title providers while supporting an exceptional consumer experience.”
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