Looking to work with Proplogix for your due diligence responsibilities? Read this review to get a detailed account of all the services they provide.

There are two reasons Due Diligence does not excite many in the real estate industry. 

First being, the complexity and scatteredness of the process while fixing a claim or lien,  or making a simple change to the title. And the second, facing sticky situations while dealing with people from associations. 

Title companies, lenders and attorneys admit that the large breadth due diligence activities is too much to handle. This is where a third party service provider such as Proplogix comes as a blessing to these professionals. 

Proplogix is fundamentally a service company that deals with multiple due diligence services such as municipal lien search, tax certificates, title curation, land survey and much more. 

The company also offers web based apps to process estoppels, prevent wire fraud and conduct remote online notarization to provide a complete pre and post closing package. 

If you are a lender or a title agent looking to sign up for Proplogix then this post is going to be useful. We will provide you a detailed review of all due diligence services provided by Proplogix for you to be sure if it could add some significant value to your service. 

So without further ado, let’s get started. 

Proplogix provides a total of eight services. These are as listed below:

proplogix-services

Table of Contents

Municipal Lien Search

A Municipal Lien search is usually a report of unrecorded liens, code violations, certain special assessments, utility, and open or expired permit issues . 

Municipal Liens are often hidden and can only come to the surface after a thorough due diligence. It is important that these liens are resolved before the new owner takes over the property.

Municipal Lien Search usually include reports for unpaid property taxes, code violations, unpaid utility bills and expired permits. Additionally, you must also search unrecorded liens for the property such as fire prevention certificate, code payoffs, vacant building registration etc. 

Proplogix Municipal Lien Search helps by providing reports that shows,

  • Property tax for the last 3 years.
  • Unpaid installments from general purpose government projects.
  • Code violations for high weeds, trash, junk, general poor maintenance of the property etc.
  • Unrecorded lien for Fire Prevention certificates,Code Payoffs etc.
  • Search for unpaid utility bills
  • Search permit history

Estoppels

Estoppels are legal documents from HOA showing breakdown of dues, payment schedule, special assessment levied by the association and any outstanding fees or fines post closing. It is interchangeably known as the HOA certificate. 

This document is hard to obtain and cost a lot of money. Many title companies and lenders find it difficult to reach the right person in the associations to get an estoppel done. This is where Proplogix helps by providing two types of estoppel services. 

The first’s called association estoppel report that gives you information about

  • Dues amount and frequency of payment 
  • All associations governing the property including the master association, sub-associations, golf clubs, or other recreational clubs 
  • Additional membership fees 
  • Current violations
  • Collection payoff letter for delinquent fees in collections 
  • Upcoming special assessments and the remaining balance for the unit’s share
  • Background checks and buyer approval applications 
  • Confirmation from HOA on responsibility for paying utility accounts

The second offering is called the HOA Information report that gives you the name and contact information of association members. It also includes information on turnaround time and instructions for ordering an estoppel. 

The HOA information is meant for parties wanting to dig information on their own by reaching the right person.

Release Tracking

Release Tracking is a service that searches through official records to confirm that instruments identified in the Title Commitment have been properly recorded within a stipulated contractual time which ranges from 30-90 days.

These are fundamentally post closing due diligence activities that uncover voluntary and involuntary liens. Companies providing release tracking service also make sure that the documents are recorded and the lien is released. 

Some of these documents are:

  • Mortgage
  • Deed of Trust
  • HELOC
  • Judgement Liens
  • Lis Pendens  
  • UCC Financing Statements
  • Notices of Commencement

Proplogix’s Release Tracking services make sure that all the post closing due diligence have been performed and that the title commitment has been recorded by the lender in the county office. 

Title Search and Report

Title Search is the process of searching through real estate documents of the property to establish ownership and possible contingencies. Title search professionals scour through county records to determine property ownership information, liens, property tax info and much more.

An inadequate title may overlook hidden title issues, leading to ownership disputes and preventing the owner from selling their property in future.

Proplogix provides 3 types of title search services that include

  • Current Owner Search. It includes the last conveyance deed along with any liens and taxes on the property, full copies of all documents and 24 month chain of title.
  • Two Owner Search. It includes the last couple of conveyance deeds along with any liens and taxes on the property, full copies of all documents and 24 month chain of title.
  • Property Information Report. Includes formation for property tax, judgements, modifications, ownership information and much more. 

Tax Certificates

A Tax Certificate is a type of tax report on a property that details the individual taxing authorities for a property, including taxing jurisdiction, exemption amount, and tax rate. You can find the assessment details and the amount of owed for the current year. 

An unpaid tax amount for property can potentially attract an involuntary lien on the property. A third party service such as Proplogix helps you by providing tax certificates that include:

  • Tax rates
  • The governing authorities and jurisdictions for the property
  • How much in taxes are due, if any
  • Payment Schedule
  • Tax Suits
  • If the current owner has any exemptions applied to the property 
  • An estimation of the taxes without exemptions 
  • The current valuation of the property and much more 

Surveys

Surveys or Land Surveys are used to determine a property’s lot lines, improvements, confirm the closure of a legal description, and measurements between them. Surveys are important to obtain title insurance. 

There could be 6-7 types of surveys in total. Overall, Proplogix provides 6 types of surveys. These are:

  • Boundary Survey. They are used to delineate the lot lines, improvements, and measurements.
  • Standard Lot and Block Survey. Residential platted lot and block under 10,000 square feet with one improvement under 3,000 square feet
  • Improvement Location Certificate. This is a report compiled by a land surveying professional which is used as a minimum standard of due diligence.
  • Survey for Elevation Certificate. Elevation certificates are required in flood hazard areas for insurance. 
  • ALTA Survey. This survey is specifically meant for commercial real estate transactions. 
  • Topographic Survey. Topographic surveys are focused on the elevation of the land that shows the height, location and size of the natural and man made features present on the land. 

Title Curative Services

Title curative services correct title defects arising out of missing or unrecorded documents. These defects could potentially bar the owner from selling their property. 

Proplogix helps solving these title defects pertaining to the following documents:

  • Mortgages
  • Deeds of Trust
  • Missing Mortgage Assignments
  • Other Mortgage-related Documents 

Payoff Letters

Payoff letter is a document given to the buyer after they have paid back their entire mortgage. Payoff letter is given by the lender and important for releasing the lien from the mortgage and refinancing. 

Proplogix helps by following up with attorneys and title agents to provide them necessary documents to close on time. 

Apart from its multiple due diligence services, Proplogix also offers a few software products for lenders, attorneys and title companies that help them streamline their closing process and provide a seamless experience to the end customers. 

Products Offered by Proplogix

ProperSign

ProperSign is a web based app meant for signing agents and title businesses to perform remote online notarization and e-delivery. The app is also bundled with features such as document management, file sharing and video conferencing. 

PreDocs and Digital Docs

DigitalDocs connects to the consumer through their real estate documents and the events. preDocs eliminates wire frauds.  

Estoppels.com 

This platform provides associations with a free platform to manage their requests while simplifying their records.

 

Proplogix is a well known real estate due diligence company offering a wide range of services and some useful products as well. We hope you found this review helpful and informative in deciding to Proplogix services.