Have you ever given any thought to what can happen when a title company closes?
It can create a nightmare for both a buyer and a seller.
A buyer's title insurance premium may not have been paid or a seller's mortgage may not have been satisfied. Or what about the rest of the charges on the HUD?
Can you just imagine a seller getting a past due notice on a loan that they thought had been paid off. Or a seller discovering title problems just before closing and then discovering they hadn't been insured? I recently heard of both of these situations.
We need to really consider how to protect our clients in this changing real estate market.
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