We have a practice of positioning into our offers that either our purchaser or seller we depict will choose the Title Company to deal with our transaction.
We`ve been operating with the same Title Business for seven years.
It`s been my belief for the past two several years that too a lot of Title organizations have determined to “Open Store” with an completely various agenda!
I`ve dealt with House loan Brokers who have insisted we use these “Fly by Night Title Companies” which is a direct conflict of desire and several times “Junk fee`s” mysteriously are tacked on for no purpose,except to line the pocket of the Home loan Broker and these title companies.It`s remarkable to see who`s curiosity they signify! guarding?
Yesterday, we ran into a situation where we shut on a transaction in Port Saint Lucie last week. We represented the Seller, in most area`s of Florida as effectively as the rest of the place, the vendor selects Title Organizations. The agent symbolizing the purchaser decided to use their Title Organization to keep escrow which is their correct. The escrow verify was for $3000, a check was despatched to our Title Organization at closing and every thing went effectively, apart from the Tile Companies check went NSF!
The lawyer named the other Title Business and was instructed that yet another verify would be FedEx the up coming working day, yet again nothing. We named the Broker of the Customers agent to allow them know what transpired, believing it of value,after all, if they`re using this company to hold escrow it`s really important to insure their clients deposits are safe!
www.apextilers.com ended up attacked by the Broker who advised us the Title Agent and the Broker were great close friends and her pal would make excellent on all monies owed! I requested her how long has her “Buddy” been in organization only to be advised she opened 6 months in the past!
Yesterday the title company closed down and went out of company with out notifying any person!So much for being excellent close friends. Forget the legalities concerned or the Point out Regulations broken, this Title Firm is guilty of co-mingling fee`s which is a federal offense.
We referred to as the Broker, and right away requested if she filed a lien on her “So Named” pals Title Firm, the solution was No!
Unnecessary to say, mixing friendship with enterprise doesn`t work too effectively. Picking an established business is usually in the best fascination of your consumers properly currently being and yours!
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