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Live updates directly from our Facebook page. Get connectedHey Control Freaks! Last week we gave you the top 5 reasons you want to take control of title. Have you taken control yet? Still need some help taking control? Call your favorite ITA team member (813-855-3585) to take control of your business and protect your buyers.
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5. Trusted partners = smooth sailing
When closing with a trusted partner, your clients and the lender can have peace of mind that the transaction will go smoothly and accurately. Nothing is worse than ending on a sour note when buying a home should be a joyous experience for your clients.
BE A CONTROL FREAK
4. Avoid price gouging
Many fees on the settlement statement are not government regulated. Some title companies can charge anything they want for certain services potentially costing the buyer significantly more money. When your buyer is already paying the down payment and closing costs while assuming a mortgage, don’t let unscrupulous title companies price gouge your clients unnecessarily.
BE A CONTROL FREAK
3. Poor attention to detail = big problems
Missing "something" on title could result in a property being sold by the wrong person, outstanding liens not being cleared, open permits with the county, unpaid mortgages. All BIG problems that should have been handled at closing that now become the new owners’ problem to fix. Sloppy work by the title company can seem like a minor paperwork issue but can result in loss of ownership rights or thousands of dollars in damages.
BE A CONTROL FREAK
2. It's the buyer’s future house, the sellers are leaving
The sellers are selling and leaving. The buyers are potentially living in this new home for many years to come. Any problems resulting from a poor closing are inherited by the buyers and could have lasting and costly effects like unknown liens, undisclosed parties with interest in the property or open permits. All things that the buyer would now have to fix and probably pay for with little recompense from the former owners.
BE A CONTROL FREAK
1. It's SOP everywhere else
In most parts of the country, it is standard for the buyers to choose the title company because it's their purchase and future home. The buyer is subject to Caveat Emptor (buyer beware), so the buyers should choose the company that researched whether the seller is the rightful seller, the title is clear of defects and the purchase documents are completed correctly.
