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Title Company Tug Of War

By
Real Estate Broker/Owner with J. Luis Properties, Inc.

Usually whoever pays for the title search gets to choose the title company unless otherwise agreed upon. However, in effort to maintain control over the transaction sellers have been requiring buyers to use their title company. I have also seen banks feed the work to their subsidiaries by requesting or implying that the buyer must use their title company.

I like to use my preferred title company so I can maintain some sort of control over the transaction. After all guess who invest the most time in a transaction? That's right the agent. The agent may have driven these folks around for months before they found something they like or spend tons of money on marketing. Only to have the transaction in the hands of a stranger who really has no incentive than a pay day is nerve wracking. It's a bit different when you have developed a personal relationship with someone and they don't want to let you down. That's where you really work as a team and most of those transactions go smoothly.


Noel Padilla

Michael Shankman
Award Realty - Las Vegas, NV
Selling Las Vegas 702-498-3383

good post..I agree with you but we have no choice if our buyers want to get the home.

May 25, 2008 01:48 AM
Brian Schulman
Coldwell Banker Residential Brokerage, Lancaster PA - Lancaster, PA
Lancaster County PA RealEstate Expert 717-951-5552

Noel, if I'm representing a buyer, I want the buyer to have their choice of title company.  I wouldn't accept the sellers' request to use a different title company unless the seller were offering significant closing cost assistance with their title company.  Especially in this buyers' market, buyers shouldn't have to accede to such demands.  (My comments pertain to private sellers, not lenders with REO properties.)

May 25, 2008 01:49 AM
Russ Ravary ~ Metro Detroit Realtor call (248) 310-6239
Real Estate One - Commerce, MI
Michigan homes for sale ~ yesmyrealtor@gmail.com

In Michigan the seller usually always choses the title company.  Though some banks do their own title search too.

May 25, 2008 01:59 AM
Steve Loynd
Alpine Lakes Real Estate Inc., - Lincoln, NH
800-926-5653, White Mountains NH

Everyone is scrambling for business, I have been getting emails and flyers from title companies offering to do "cash closing" for $300.00 , when I know every penny counts to my buyers and My normal title attorney is still at $550 what do you do? Let the buyer decide: Steve

May 25, 2008 02:09 AM
Kris Wales
Keller Williams Realty - Lakeside Market Center - Macomb, MI
Real Estate Blog & Homes for Sale search site, Macomb County MI

RESPA.  That's all that needs to be said.

May 25, 2008 02:28 AM
Noel Padilla
J. Luis Properties, Inc. - Kendall, FL
CDPE

Brian

I agree however if want to get a good deal on an REO sometimes you have to bite the bullet.

Russ

Here in South Florida, its customary for the buyer to choose.

Steve

I would also let them choose but if I have a relationship with someone who is good at what they do and will get it closed............you know the saying, you get what you pay for.  

May 25, 2008 04:06 AM