OfflineHello everyone. I am wondering how is it determined whether you will use a real estate attorney or title company to close on your deals? Is this something that you decide on your own? Is it the investors responsibility to provide the attorney or title company?
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it depends on what and who you are buying from. Most banks and agents companies want you to use their contacts. But if you are dealing with a homeowner not in foreclosure, you can make the call.
I believe it also varies by state. This is something I actually need to find out about my own state. I am pretty sure that some states require real estate attorneys. This may only apply to double closings and/or assignments, again, I am really not clear on this.
If someone could elaborate on the subject, it would be greatly appreciated.
Thanks and good luck!
-Mike
I would prefer an attorney because if legal issue arises a title company doesn't have the authority to make changes. You want to be in control of the closing so I would keep the closing process in my court. Continued success......Lubertha
"GOD IS STILL IN CHARGE, HE IS THE AIR WE BREATHE"
I have friends working with title companies in Portland OR. And all of them now have attorneys on staff. But this attorney still has to play by the title companies rules. Which in my area is no double closings or third party pay outs other than Realtors. ;-( ( I'm sure Realtors had something to do with that law )I've done double closings in the past and paid as a 3rd party at closing before with out any problems. As a result of all of the previous invester fraud that has occured in the past things have really gotten strict around here, so if anyone knows of anything that can help me I'm all ears!!!
I'm calling around NW Oregon and SW Washington looking for an answer. Haven't found it yet.
THANK YOU!!!
RE: Invester fraud. If anyone hears of any turn it in immediatly. We all play clean do not need anymore bad apples messing up our reputations.
find a RE attorney with their own private firm. you as the buyer don't necessarily have to use the seller's attorney to handle the closing. Lender does that, trying to force buyer to use their attorney, so that they have control over the deal and they pay a fix cost per transaction that that attorney (who they hired) charges them to do business through their law firm.
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