Severe delays in the transfer of properties in Taos County may finally be coming to an end with the opening of a new title company.
For the past few years, title services could take up to six to seven months due to a backlog in processing real estate transactions through the existing title companies. Up until now, Taos county only had two title companies unable to process the transactions they received, creating a larger and larger backlog.
The process was further aggravated because the county’s records were not organized to the point where someone could build a new title plant from scratch. However, for the past year the county has been working diligently to organize and digitize their records. Now a third title company is opening. This new company should remove some of the burden from the two existing companies and speed up the process.
Pioneer Title and Escrow Services, owned by New Mexico attorney Richard W. Norris, has operated in several New Mexico counties for several years (including Colfax County). It announced that it will be accepting orders for title commitments and closings. This change in the market should bring much needed relief to those wishing to buy or sell property within the county.
Holly Hillenbrand, operations manager at Pioneer, said, “Pioneer Title prides itself in producing title commitments in a timely manner, days not weeks. The company also prioritizes the timing of its closings, so that those contracts with early closing dates get closed on time.”
Even one week is an incredible improvement compared with the months-long waits Taos County clients have had to endure. The frustration among residents, real estate agents, lenders and buyers has become so great that many looked for alternatives to accomplish transactions in a timely manner, including foregoing title insurance and closing directly with local attorneys.
Pioneer Title’s new office will be located at 204 Paseo Del Pueblo Norte, Suite a, Taos NM. They can be reached at (866) 294-4100.