Why you should care about Title Insurance: Statewide Abstract Celebrates 35 Years in the Industry

I"m sharing this because Ken has been a client for over 20 years. His company is one of the most impressive I have ever worked for; their commitment to excellence is demonstrated in the firm's ability to grow in a market where many others have gone out of business. You can read the reasons why below.

After months of searching, negotiating, and packing, you finally move into your new home in a beautiful neighborhood. One day while sitting on your new stone patio sipping coffee you notice that two trees in the corner of your property have been cut down leaving a gaping hole in the landscaping. Upon closer inspection you realize that your neighbor is putting in a pool and removed the trees to provide more sunlight and he’s installing a chain link fence five feet beyond the trees on the property you own. When you question him, he tells you that it's his property. You call your attorney to ask what recourse you have. He tells you to find your title policy.

After finding the policy, as well as the survey for your property, your attorney tells you that the property does actually belong to you. Frustrated you decide to take action. You ask your attorney to send the neighbor notice and then wait for his response. When he doesn’t respond and continues to build the fence, you move to the next step. The Title Company, who you paid at closing, is now responsible for speaking with the individual on your behalf as he has essentially made a claim that your legal property belongs to him. They will pursue the matter and pay the costs involved because their job is to insure you against any claims against your land.

In another scenario you are interested in purchasing a home and after research and inspection, the title company tells you that they won't insure the right side of the property 5 feet wide and 200 feet long because the neighbor has been taking care of that area and landscaping it for over a decade mistakenly believing that it’s his. The title company knows that this could present a problem should you choose to pursue the matter with your neighbor, add fencing or otherwise claim the property as yours (even though it rightfully is based on the deed and a survey), therefore, they will insure the rest of the parcel, but not that area. You then have a choice to purchase the property, discuss it with the neighbor, come to a solution or not purchase the property, but whatever the decision, you are now an informed buyer.

These are just two common examples of the thousands of cases that have come across the desks of the title insurance experts at Statewide Abstract over the past 35 years. Ken Meccia, President of Statewide, has seen numerous changes in the industry over the past three decades.  "Perhaps the most significant change is the fact that almost every mortgage company and bank now has their own internal title company which enables them to keep more of the revenue stream in house," states Meccia.

 Statewide Abstract President Ken Meccia

Statewide Abstract President Ken Meccia

So in an industry that has seen a lot of downsizing how has Statewide, the oldest family owned title company in Westchester, continued to expand? "We believe the difference is twofold, first we have 35 years in the business and during that time we have seen it all! So our depth of experience simply can't be matched. Second we have assembled a dedicated, knowledgeable and experienced team of individuals who care about the clients, understand the work they do and always go the extra mile and I believe that’s what sets Statewide apart and has enabled us to continue to grow as an independent title insurance company while others have disappeared.” 

In fact, while other companies have one or two account executives Statewide has seven and each brings a level of experience from a different segment of the real estate business, so they aren't just reps, they understand this business, the know the right questions to ask and they are strategic when it comes to networking and marketing themselves.

Karinta DiMartino is one of the seven. She has been with the company for 16 years and networks with a scalpel, carefully identifying groups where she dedicates her energy. “I believe in fine-tuning who I spend my time with and my number one goal is to help them do their job better, that way, I'm seen as a resource rather than just an account exec and I believe that makes all the difference. Knowing that you’re in this for the long-term relationship and not just the next deal is what I believe sets us apart at Statewide,” stated DiMartino.

Rick Krasner started with Statewide in September of 1992. "I work a great deal in Westchester on residential deals but also in Manhattan on commercial deals which can get very complicated. Our job is to make sure that no stone is left unturned; we want to make sure that full disclosure happens as far ahead of the closing as possible so there are very few issues at the closing

"Let's face it real estate attorneys are busy, often handling numerous clients at once and even several closings in one day. The faster we can get them complete and accurate information, the faster they can close, and the happier the buyers and sellers will be also.”

Mitchell Usavich has been with the company for 29 years. There isn't any question he hasn’t heard or any obstacle he hasn't faced and those who rely on him know it. He's tough when he needs to be, always straight forward and brings a level and depth of knowledge that is unsurpassed in the industry. Thanks to his experience he is often able to provide answers far more quickly than someone at an agency that only set up shop three or four years ago.

He has dealt with everything from easements and neighbors, rights of way across park lands, underground water pipes and electric lines, landscaping and fencing issues, driveway disputes, missing family relatives who emerge to make claims, multiple mortgages, foreclosures and even properties partially underwater. He deals with each issue the same way, with an eye on getting to the heart of the matter quickly and with the most accurate and complete information possible.

“We want to make everyone look good at closing, the attorney for the buyer who will be able to clarify for his client what rights they have or don't and the attorney for the seller who can be assured any possible underlying issues have already been discovered and addressed. In any real estate transaction there are often surprises along the way and at closing, our job is to ensure that none of them come from an issue with title,” states Usavich.

In the end, it is like any other insurance policy, you hope you never need to use it, but you'll be so glad it's there when you do. And if you are a Statewide client, you’ll know that everything possible will be done to resolve your questions and issues as quickly and as efficiently as possible.

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