Special offer

Horrid Closing Process

By
Real Estate Broker/Owner with Highland Realty, Inc 0225 099336
With more lenders and settlement agencies trying to extend their geographic tentacles, quality of service inevitably suffers. In Virginia, the purchaser the Purchaser usually selects the settlement agent. Typically and thankfully, no other attorneys are involved unless there is a dispute between the buyer and seller. We had a closing yesterday that no one particularly cared for. Everyone was ushered into a conference with a speaker phone and a Notary Public, who was not overly familiar with anything she notarized. The settlement agent was located in North Carolina and proceeded to minimally review forms and contracts to be signed by both parties. People kept getting lost, were reluctant to ask questions and were very uncomfortable with the entire closing. We'll be certain to ask if the settlement agent is going to be "present" the next time we see a name on the contract we don't recognize.
Ray Saenz
Exit Realty Laredo - Laredo, TX
Homes for Sale in Laredo, TX - Texas, Realtor

Dave,

Here in colorado works different, listing agents choose the title company in general, it is almost a rule, you can negotiate the title company but I prefer not, that's ok for me

 

Ray Saenz, Broker Associate

United Property Brokers, INC

Homes for sale in Colorado Metro Denver Area

Ray Saenz Real Estate Agent & ActiveRain  Network User

Sep 20, 2006 03:26 PM
Leon Austin
Mobile Notary Services - Colorado Springs, CO
Colorado Springs Mobile Notary

"With more lenders and settlement agencies trying to extend their geographic tentacles, quality of service inevitably suffers."

Dave, I sympathize. I'm a notary signing agent, and that is one of the biggest problems I see. And the more people who get involved in the process, the more the communication breaks down. You gave me a lot to think about. Thanks for the post.

Apr 09, 2007 04:25 AM