Hubzu Closing - title company

7 Replies

I have a property under contract through Hubzu. I have seen many people recommend using your own title company rather than theirs. However, my father is an attorney and would assist me through the process for free.

The purchase agreement states:

"If you wish to close through your selected attorney, please be advised that seller will pay the title insurance costs if you agree to use the Seller Selected Title Provider."

Should I still use my own title company?

I bought 3 from Hubzu last year. Trust me, use your own company, not theirs. It will cost you a bit more money, but worth it. Hubzu's asset managers are in India and are difficult to deal with.

Originally posted by @Bryan L. :
I bought 3 from Hubzu last year. Trust me, use your own company, not theirs. It will cost you a bit more money, but worth it. Hubzu's asset managers are in India and are difficult to deal with.

Thanks for the advice, I will use my own title company.

I had one other question as well. I am obtaining financing for the property.

I have all of my paperwork in order and have been pre-approved through my bank. However, the purchase agreement is not contingent on financing. The house has been winterized and I cannot de-winterize the property until after closing. Do you think there will be an issue with the appraisal if they cannot check the water?

It depends on the type of loan program. Check with your loan officer. If it's FHA or Rural Development, they will probably require all of the utilities to be on. I don't know about the other loan programs.

Originally posted by @Bryan L. :
It depends on the type of loan program. Check with your loan officer. If it's FHA or Rural Development, they will probably require all of the utilities to be on. I don't know about the other loan programs.

It is conventional financing, I will talk to my loan officer about it. Thanks for the info!

@Aaron Carter - Why isn't your Buyer's Agent Realtor helping you with these questions? You know, the one that you contracted with to help with these questions at no cost to you. Is he/she helping you get this to closing?

Originally posted by @Bryan L. :
@Aaron Carter - Why isn't your Buyer's Agent Realtor helping you with these questions? You know, the one that you contracted with to help with these questions at no cost to you. Is he/she helping you get this to closing?

My mom is actually my agent/broker. I used to be an agent and let my license lapse because I went into the medical field. Now coming back to real estate for investments. I am doing the leg work and my mom will give me the commission after closing which I will use for repairs.

Bought a house a few days ago. Their title company has left a lot to be desired. I've just been double checking all of their numbers (which have been wrong)

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