TIER®

Avoid the heartbreak of investing your hard-earned money in a property that isn’t what you thought it was. Know what the public-record documents say about your parcel. Understand what bundle of legal rights you are buying. Know what to disclose upon sale. Arm yourself with valuable information in order to make a wise buy or sell decision and secure your investment.

What is TIER?

TIER (Title Insurance Exceptions Review®) analyzes the County Recorder’s public-record documents associated with your parcel to render a legal opinion addressing issues regarding use, financing, and insurability. Exceptions documents represent potentially problematic, expensive, or irreconcilable issues regarding a parcel’s use and / or financing. Because these documents are in the public record, the law assumes that buyers and sellers of real estate are aware of each one of these documents and its effect on the parcel’s use and financing. Because of their public nature, title insurance does not typically extend to conditions addressed by exceptions documents.

Types of documents reviewed:

  • Covenants, Conditions & Restrictions (CC&Rs)
  • Deeds
  • Easements
  • Judgments
  • Plats
  • Records of Survey
  • Road Agreements
  • Septic Agreements
  • Tax Liens
  • Water Agreements
  • and more

Who uses TIER?

  • Buyers and sellers of acreage
  • Buyers in subdivisions
  • Cash Buyers
  • Commercial owners and tenants
  • FSBO’s
  • Investors
  • Property investors at auction
  • Property managers

 

Benefits:

  • Know what title insurance won’t cover
  • Know the legal risks of a parcel before close of escrow
  • Negotiate terms that address circumstances in the public record
  • Negotiate a price that reflects limitations or defects of the public record
  • Substantiate market value prior to listing

The GREEN Light System®

What is The GREEN Light System?

The GREEN Light System is an intuitive system that summarizes the legal risk of a parcel, risk the law assumes you understand.

One of three risk assessments is assigned to every TIER:

GREEN Light: Public-record documents indicate parcel is ready for sale or purchase.

YELLOW Light: Public-record documents indicate potential use, title, or lending weakness that affects market value.

RED Light: Public-record documents indicate defects requiring legal work before close of escrow.

GREEN Light Certified parcels are:

  • Easier to price
  • Spend less time on market
  • More likely to close

What does it cost?

The cost of TIER depends on whether the parcel tests GREEN, YELLOW, or RED:

Assessment Cost Description
GREEN $1000 Public record ready for market
YELLOW $1250 Public record indicates weakness, but not significant risk
RED $1500 Significant risk; public record indicates defects

Advance Fee is $1500 per parcel.

Applicable refunds will be initiated the next business day after completion of TIER.

Contingent Refund Schedule

Assessment Refund 
GREEN   $500
YELLOW   $250
RED   $    0

To Order

Have the following information handy:

  • Name and contact information
  • Legal description, parcel number, and/or street address of the Subject Property
  • VISA, MasterCard, Discover information

Ordering should take less than five minutes.

What happens next?

1. Preliminary Title Report. The preliminary title report is ordered for your parcel.

2. Exceptions documents. When all exceptions documents have been received, you will receive an email listing the documents to be reviewed, a due-by commitment date, and a scheduled time to speak with your attorney.

3. TIER evaluation letter complete. You will receive an email with the TIER and invoice attached. If parcel tests GREEN or YELLOW, refund will be initiated the next business day.

4. Attorney phone call. Your attorney will call at the scheduled time to answer your questions.

Note: Eight (8) holidays are observed per year: New Year’s Day, Memorial Day, Independence Day, Labor Day, Thanksgiving, Christmas Eve, Christmas, and New Year’s Eve.