We reinvented the real estate escrow process to work for everyone.
By building the world's first technology platform that connects title agents and low-cost attorneys to owners of distressed real estate in under-privileged communities.
“I’m sorry, but we cannot do ‘deals like this one.’ You’ll have to find another title company”.
The owner was an elderly veteran forced by declining health to live move in with his daughter. The property was located in one of Northeast Ohio’s poorest communities. It had been “paid for” for years – or so the family thought. After decades of home ownership, an attempt to sell the property to realize a well-earned financial benefit was almost lost because the title agent saw a lot of work (the mortgage company was paid in full but failed to release its lien years ago and now was no longer in business) and little “reward” since the title insurance premium, based on the home’s selling price, was only a few hundred dollars.
Over 90% of vacancies in urban areas are solvable when owners have timely, affordable access to a competent real estate or family law attorney.
ProReo (rhymes with Oreo) Settlement Services deploys patent-pending, Parcel Revenue-developed technology to check real estate titles for serious legal and title issues before a transaction goes to a title company or closing attorney. If no issues are found, deals are routed to participating title agents who can immediately close the transaction. If title issues exist, deals are routed to real estate attorneys who agree to assist under-privileged property owners pro bono.
A win-win for communities.
Parcel Revenue Corporation is proud of ProReo’s work in urban communities which serves as a shining example of our commitment to end housing inequality. Learn more about ProReo at http://www.proreo.us.