 Good afternoon, everybody. Happy new year. Thank you for joining us for another edition of Condo Insider that is put on by Hawaii Council of Community Associations. And today, as my guest, I have Talia Raposa, who is with DocuTrieve. And DocuTrieve is a very important part of the condo process, when you're purchasing or doing any kind of refinances. It's in that nature because they hold what we call the RR-105C that a lot of lenders rely on when they're doing a purchase for a condominium. So Talia is going to go through the process about DocuTrieve and the importance of the accuracy of the RR-105C. So Talia, I want to welcome you to our show today. And let's get started. Perfect. Thank you for having me, Raelyn. So nice to see you. Yeah, in person, for once. Yes. So Talia, what and who is DocuTrieve? If you can explain it from your end. Yes, I can. So DocuTrieve, we're kind of just like a side part of title guarantee. And then we help serve kind of just real estate industry in two ways, but mostly I think what we're going to focus on today is, as far as condo documents. And for that, especially, we help with different management companies. And we kind of act as like the customer service in helping provide documents for people who are buying, selling in certain associations. So what kind of documents would that entail? For like condos, would it be like the decorations, bylaws, households, all those kind of documents? Does it include financials? Yes, it's going to include all of that. So we're going to have, of course, it depends on the different association. Some of them may not have all these documents, but it'll include things like articles of incorporation, the financials, operating budgets, the property information form, R105C, it's also known as that, lenders disclosure, CCNRs, bylaws, house rules, reserve study as well. It's going to cover a lot of things. OK. So the managing agent would have to upload those documents to you or they may, or someone like, I would make a request if I want certain documents, make a request through the documentary website, and then you would process that order to obtain all those documents from the appropriate managing agent. Is that how it works? Yes, pretty similar. So what you would do is you go to our website, www.documentary.com, and on our website you're going to see the kind of disclosure order form. So you click on that and you're going to enter in the information. So it's going to ask for your information up there on the top. Then the second part is the property information. So that's going to be whatever property that you're interested in buying or if you're the seller, going to be that. And then it's going to list the different documents that are available. And go through or click whatever one you want. We go through, we have it in our system. We have a lot of these documents already on file. And when you check with the management company to see like what has been updated so that we make sure that when you're going through with your purchase, refinancing, whatever it may be that you're getting the most current available documents. So who actually completes all the information? Like specifically the RR-105C, who has the responsibility and the liability for the accuracy of the information in that RR-105C, even the lender's disclosure? Yeah. So the RR-105C, so that's going to be completed by typically the property manager. The management executive will also help out with some of that information. But the property manager, just because they're going to be on site, they usually have an idea of like how many units there are like who's in, who's leaving, that kind of stuff. So the information is completed by pretty much the management company and like different employees. So the management company is going to be responsible for the information. So if there's any errors, then it falls back to them. Zakhchiv is kind of just like the middleman. So we're kind of just customer service. So you're just like the bank, the paper bank. Yeah, essentially. It's a good way to put it. The paper bank. Yes. Okay, so let's go back a little bit. So what exactly is the RR-105C? Yeah, so the RR-105C, it's the property information form. So it typically has information on the property, property name. It'll have some information on like the managing, managing agent information. And then it'll have like the number of units, percentage that has been sold, owner occupancy. That kind of stuff will have like information on like foreclosures. Kind of like what's being, let's see it'll have insurance information. So like insurance agent name, financial information. And then if there's like anything, any like reserve assessments. It includes litigation too, I think, right? Yes, it does include litigations. Yeah, if there's any pending or litigation in process. So when you get a request in, like say there's a request going in today and you have the processes you would send, like say it's for a certain managing agent, you would send them the request saying, we need an updated RO-105C, is that how it works? Yes, so that's essentially what it's gonna be. We're gonna check what we have and then we're gonna say like we need the updated, say you requested the RO-105C, we're gonna say we need a new one. We need a new lender's disclosure. We need to check if the financial statement has been renewed, the monthly one. So like we're at the beginning of January, December is not quite gonna be ready. We're gonna check like if, let's see, November is ready and see like if there's anything else, like board minutes and whatnot available as well. Because they do have an age date. They're only good for so long, right? So how long are they normally good for? Yes, so typically, I believe most banks, they have the age date for like, they want it within 60 days. But usually it's I think a little bit closer. So it could be like to 45 days. Just cause that's usually how long, like I think 60 days is about the typical transaction time if you're like buying. So pretty much almost every transaction it has to be relatively current. Yes. Yeah, so I can imagine the daunting task on the managing agent, especially in a busy market where it's like sales today, there's another sale tomorrow, the same property that you're like, oh, I just did it. That's gonna change, it could change your occupancy. Just a sale, you know. And so the property manager would also have to work closely with their general manager and resident manager on the accuracy of that own occupancy as well because some programs require a certain amount of more occupancy like FHA. But it's a collaborative effort on a bunch of people to get this piece of paper filled out completely and as accurate as they can. So any other information that you wanna include about Dr. Chief, what else do you guys do? Mostly we handle like the kind of documents. Some of the things we do is we have a system available like Dr. Chief online. But that's mostly for mostly like legal offices which is providing like electronic copies of like text maps, different recorded documents at the Bureau of Convances. So it's just kind of like a way to stop so you don't have to go to the Bureau. So are you able to even go to look up the Bureau to get, like I was looking for a most recent copy or the latest copy of a condo's declarations. Because we had a hard time doing that ourselves even though they said it's available that it can be able to put them like, I can't pass this one thing, it's giving me nothing, you know. So would you be able to go to, are you a source also to even pull up, like to verify what the latest document is recorded? Yes. We are. Oh, okay. Cause I didn't even go down to the Bureau to look it up because I couldn't, I'm like, even when I was there, if they had to come down to me, I go, okay, keep showing me the same thing. Oh, yeah. Oh, that's kind of cool though, okay. Cause most of your time companies won't do it, you know. Just to verify, I go, I just want to know what's the latest document, that's it. You know, I have a document number and I want to make sure nothing goes after that, you know, cause I don't know about that, I'm cool. Okay, that's good to know. That's really good to know. That you can at least, there's another access for some of this information. Yeah. Because on the lending side, I know a lot of people complain that they can't get certain documents from the managing agents when they're trying to do certain low programs. So at least we have another source that we could hunt you down. Yeah, I know we have this available. Mostly for like, yeah, the condo documents, we should have all of those documents updated for you and available if you're ordering the condo documents to us directly. Mostly like the doc chief online, it's more so like if you have like the individual, it's like a certain property. So like you have a certain address or something that you're looking at. But as far as like condo documents, mostly all that will just be directly through docuTrue. Okay. And then what is the cost? Does it depend on the type of document that they're requesting? Yes. So it depends on the document type for one. As far as condo documents, typically our starting prices are like a dollar per page. And then there are some documents like the RO 105C and lender's disclosure, those are at a set price. So like the RO 105C is set at $140 and then the lender's disclosure is set at $85. And then when you submit the request, do you get the property managing agent a deadline once you get it back to you? Yes. So we have, it's advertised on our order form as well. So your order is going to be completed within five to 10 business days. 10 is going to be like the absolute latest. We usually get things done much faster because we do a lot of follow-ups with the management companies. So typically they get those to us within at least like five business days, but usually shorter. Wow. Okay. That, okay. That's really good to know. So I want to kind of like go back. So the accuracy of that RO 105C, the lender's disclosures, they're really, it's really on the property manager, the person that's filling out the information, the property, the managing agent, they have that direct liability for the accuracy of that information. Yes. Good to know. And docuetry, it'll be on the managing agent's errors and emissions for any kind of errors and stuff like that. When you go into that direction, docuetry has nothing to do with the accuracy. You're just the holder of the information, the library bank of documents. Yes. No, that's correct. Yeah. I want to kind of clear that up because someone said that docuetry carries the errors and emissions. And I'm like, I don't think so. But yeah, I just want to make that clear that it is the person preparing the document, the person or the company preparing that has the liability for the accuracy of that information. Yes, that's correct. Docuetry, we don't make any edits to the documents, any of them. And like you said before, the property manager and management executives, they're the ones who are going to be going through the information, verifying, updating, like the owner actually can see if there's like reserves process, anything like that. They're verifying that. And then these documents are actually signed, usually by the management executives. So it's going to be signed and dated at the bottom so that they're the ones typically that are going to have mostly information. But as far as like property information, like owner occupancy, that's usually the property manager who knows more of those things. Okay, great. I think we're almost nearing our time. But is there any additional information that you want to add? So this is going to be something that we can forward on to everybody. Any little to this that we didn't cover? What do you want to add? Related to documentary. So we have a lot of the different associations looking at it. I think that there's about 2,000 associations on Island around that. I'm not sure exactly the number and about half of those documentary of hopes documents for those. And if we don't, we are usually able to know or find out who does hold the documents. So we're always able to help out with some information on that as well. Okay, okay. So does it have to be just, can it be a condo association that wants to upload their documents into documentary? Can they do that? Yes, actually we do have some. So we work with a lot of different management companies. We do have some that are just the one association. So it just depends. But yeah, if we're here to act as kind of just the customer service so that you can just focus on managing the property. If you're the management company, you have all that time you can go through, take care of everything that needs to be done on day-to-day basis or just like the overall upkeep of the property. And then we just help out with like, you know, those documents are needed for these different loans or just like buying your first home or whatever it may be. So we help really be at some of that from you. Okay, cool. That's really good to know. So I really wanna thank you for being on the show with us today. It was really good learning. I mean, I learned something from it, you know? And we hope we can also use it for today's session for training for other property managers on the use of and the fortunes of the RO-156, especially the accuracy of it. Yes. Because there has been lawsuits in the past about involving the RO-15C and its accuracy. So we wanna make sure strive to everybody that this is not kidding around. You can't be time-backed. You can't be multitasking and doing this, you know? Cause there's certain things that's like, don't bug me. Well, I'm filling out the swamp, you know? Yes. You know, so came to the, I really wanna thank you for taking the time today to be on the show and helping us to educate our condo community of condo owners and boards, even property managers on this information. Yes, thank you so much. So thank you so much. And as a reminder, I wanna let everybody know that our next White Council seminar is gonna be, I think it's gonna be a hybrid in person or via Zoom, but it's going to be on February 16th on a new program that the City and County signed into law last year. It's called benchmarking. And I really encourage everybody to attend in person because I already went to one training and it was really hard to follow even in person. So if you do it via Zoom, it's gonna be even harder. So I really encourage everybody to try to attend in person because it's signed into law and it's one to effect as of January one. And it's kinda complex to do that, just the startup. Once you do the initial startup, then everything else should be relatively easy. That's what they're saying, but I don't know. So, but I really encourage everybody to try to attend in person. And we'll have the flyer out probably next week. We're just finalizing our final location where we're gonna have it at. But I encourage everybody to make sure that they look out for the February 16th, HCCI webinar, 7R on benchmarking. So again, Talia, thank you so much. This was great. Thank you, Raelyn. It was so nice to talk to you and just be on the show. Yeah, thank you so much. And thank you everybody for joining us today on another edition of Condo Insider. Thank you, see you guys next week. Thank you so much for watching Think Tech Hawaii. If you like what we do, please like us and click the subscribe button on YouTube and the follow button on Vimeo. You can also follow us on Facebook, Instagram, and LinkedIn, and donate to us at thinktechhawaii.com. Mahalo.