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RESPA Section 9, Buyer can choose the Title Company!
RESPA Section 9, Buyer can choose the Title Company!
Therefore do not let the seller's broker/agent dictate to your buyers where to close and which title company to choose!
Your buyers can choose the title company!
Here's the reason:
As stated in Section 9 of RESPA!
(a) No seller of property that will be purchased with the assistance of a federally related mortgage loan shall require directly or indirectly, as a condition to selling the property, that title insurance covering the property be purchased by the buyer from any particular title company.
(b) Any seller who violates the provisions of subsection (a) of this section shall be liable to the buyer in an amount equal to three times all charges made for such title insurance!
Seller's broker/agent be aware and be afraid!
This is just FYI only!
Thanks
... more

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