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Title Industry Discussions & InsightsIssue No.3
GCT Congrats
Venture Bank has moved to its new location in Golden Valley at  Wayata Boulevard.  Venture now occupies this high profile building in the northwest quadrant of I-394 and Xerxes.

Congratulations to New Perspective Senior Living on the grand opening of their new facility, The Lighthouse of West Bend in West Bend, Wisconsin.

Bridgewater Bank recently celebrated their 6th Anniversary. Bridgewater Bank is a full service bank founded by and focused on successful local entrepreneurs.  They have locations in Bloomington and Greenwood.



Industry veterans are predicting that the market will start a marked recovery in 2012. At Guaranty, we are already seeing an increase in the volume of transactions that involve the actual exchange of assets at near market values. The timing is opportune for a refresher on what you should expect from your title agent.


Title Insurance provides you with protection against future losses resulting from defects in the title to real property that exist at the time of purchase but are unknown or undisclosed. A title defect can include unpaid taxes, liens, an easement or restriction, fraud or forgery. According to the American Land Title Association, 36% of title searches find an encumbrance or defect. Beyond providing a list of encumbrances and defects and issuing a policy, your title agent should also provide you with a strategy for resolving any defects.


There are two main types of policies: the Lender's Policy and the Owner's Policy. The lender will usually require a policy insuring their loan and protecting their interest in the property. An Owner's Policy insures title to the property for the buyer and is inexpensive when issued simultaneously with a loan policy. The premiums for title insurance are paid one time only.


In commercial real estate transactions, the title exam is a critical component in the performance of due diligence. You should contact your title company early in the acquisition process. They can produce an Owner's and Encumbrances report which may provide valuable information to use in negotiation of your purchase price. It can make you aware of any issues or concerns with title to the property. When the seller accepts your Letter of Intent, you should have your Owner's and Encumbrances report upgraded to a full title commitment. The title commitment is a complete report following the title company's examination of all issues which can affect title. Your title agent should have the expertise to help you develop a strategy for resolving any issues it uncovers. When the Purchase Agreement is executed, it should state who is paying for the title insurance and associated costs. Customarily, in commercial transactions conducted in Minnesota, the seller pays the title commitment fee and the buyer pays for the insurance. The Purchase Agreement should also identify the title company holding the earnest money.


The Importance of the Closer

Upon entrance into the due diligence process, all parties need to be in constant contact with the title company. Although the title company may not be involved in all aspects of the transaction, they can help to move the transaction along and can offer suggestions when parties are unable to resolve differences. A great closer should have extensive legal experience and problem solving skills and can help to informally mediate issues among the parties or offer solutions to any issues that arise. They can be a tremendous resource in ensuring a successful closing.

For a diagram of the Title Company's role in the closing process and for more information regarding the commercial title industry.  Please visit the resources page on our website.


Quick Links


I am pleased to announce that Beth Sheehan joined Guaranty's team of commercial real estate title professionals serving as counsel and closing officer. She will conduct commercial closings and provide legal counsel to the Guaranty team in determining underwriting decisions and analyzing remedies to get to the closing table. 

View Beth's Bio

Connect with Beth on LinkedIn valeriebeth

 We also added Valerie Doleman to our team of commercial title professionals. Doleman will serve as Vice President of Marketing and will be responsible for working with the Guaranty team in determining strategic planning initiatives as well as corporate communications. 

View Valerie's Bio

Connect with Valerie on Linked In 







Wendy Ethen was recently named one of the Twin Cities Women to Watch in The Business Journal's Women in Business Awards.  Click here to see Wendy's profile in The Business Journal. 


Guaranty is proud to have participated in STEP-UP Achieve. STEP-UP Achieve is a program of AchieveMpls, the strategic non-profit partner of the Minneapolis Public Schools, and is co-chaired by Mayor R.T. Rybak and Richard Davis, Chairman, President, and CEO of U.S. Bancorp. The program recruits, trains, and places over 700 motivated young people from Minneapolis each summer in competitive paid jobs with corporate offices, real estate firms, media outlets, and other local companies. For more information on the intern program visit





(click for bio)

Wendy Ethen, President


Valerie Doleman, Marketing


Mary Edgeton, Examiner


Diane Jenson, Exec. Asst. to Wendy


Michelle Kolling, Closing Coordinator 612.746.0410

Cindy Nosan, Sales & 1031 Exchanges


Beth Sheehan, Counsel



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