In this episode of Dan’s Papers new video series Making Waves, Publisher Victoria Schneps and Emmy-Award winning newscaster Jane Hanson interview Enzo Morabito and Chris Nuzzi, two experts in Hamptons real estate.
Making Waves: Hamptons Real Estate Pros Enzo Morabito and Chris Nuzzi
Enzo Morabito, the associate real estate broker who leads the Enzo Morabito Team at Douglas Elliman, and Chris Nuzzi, executive vice president and regional director of Advantage Title, talk about challenges and triumphs of title insurance on the East End of Long Island. The interview was filmed at the The Shoals Suites and Slips of Southold.
“When it comes to title, Dune Road is like the biggest mess on the face of the Earth,” Morabito said, noting that families that have properties there for years often have just a handshake agreement regarding the rights of way allowing pathways to the waterfront on the bay or the ocean. “[It] never quite made it into the deed but it’s just been pre-existing. So at the end … when we’re ready to close, the person goes, ‘Where’s my right of way to the bay?’ And it’s totally overgrown.”
Nuzzi explained that title insurance is intended to avoid such complications before closing on a property sale.
“Title insurance is the buyer’s right to ownership so it simply is possible,” he said. “We go through a chain of title, a deed chain, the ownership chain over a period of years — typically four years — and any judgements, leans, mortgages that may affect the property. Those are things that are typically dealt with prior to the closing.”
The last thing a buyer wants is some kind of delay at this stage in the process. Both of these men seem to believe that the industry will continue to change over the next few years. Learn more by watching the video above.