Title Company paperwork on land contract in Ohio

4 Replies

I am in the process of tryig to close on my first land contract and the title company is taking forever and a bit incompetent (I will NEVER use this comoany again). My question is: Being as it is a land contract and I will be making payments to the seller shouldn't I have recieved something in writing from the title company/lawyer stating what my payments are and when they start? In the original purchase contract there is an amount but it was an estimate because we did not know the exact amounts for insurances and taxes and the lawyer who wrote the land contract just copied the info from the purchase agreement word for word. In fact, he made a mistake and wrote the total amout (PITI) and the ADDED the taxes and insurance again thus showing a higher payment since T&I were accounted for twice. I was told when I signed to just cross that out and put in the correct amounts but that was 2 months ago and was still just based on the estimates. We now have the actual amounts so I need something that shows the change in amount to be paid and the new payment start date (was originally 7/1 but we have yet to close). I figured there would be some sort od ammendment or something as that is what we would do here in CA but not sure what Ohio laws are. When I asked title about this they didn't seem to know what I was talking about and they said they would check on it. Also, on the HUD 1, which I just received today, under lender it says "CASH"... shouldn't the sellers name be there as they are carring the financing? Or is it different with the land contract? I did receive a page that shows no prepayment penalty, no increase in interest rates etc.. in a series of check boxes but there is no actual loan/seller carry info. Any help here is apprieciated. This was supposed to be a 2-4 week close and as of today it is 3 months and counting.

@Sheri Ulm  


I live and invest in NE Ohio, This deals sounds like its turning a little shady if the attorney and the title company are making these delays and mistakes this isn't good! I don't know how good of a deal this is for you but If you do not have any earnest money in the deal you may want to run and look for a different property before you sign on something you will regret! If this deal is amazing and you want to stay in, hire a Real Estate attorney in Ohio to to review everything and get you safely to the closing table. This shouldn't cost more than $1,000.00 (I usually pay $500.00 for something like this)


Thanks @Mike Alder. At this point I want to stay in as we seem to be almost there and it is a good deal. I have considered walking, believe me. I also have $1000 earnest money in this but if I did walk I would think I would get that back as the contract has been unable to close and it's 2 months over due. However, seeing how this title company has worked so far I also wonder if I would ever see my money back if I did cancel. To make matters worse the attorney who made the mistake on the land contract doesn't even work for this title company... For some reason the real estate agent had this guy draw up the land contract before anything even went to title. His original thinking was that there would be more protection that way. He says he will never use that attorney or this title company again but that doesn't solve my problem. Now the title company is asking ME for the original land contract which was signed by the sellers and I and returned to title over 2 months ago. It appears they have lost it. I am thinking of asking my agent to pull the file from them and take it to another company but that would mean more delays and I'm not sure they would even get everything back to us so basically we would be starting all over. It's all very frustrating.

There are so many things going wrong in this transaction, I would pull it from that attorney & Title Co, and start over. A Land Contract is not that complicated.

Thanks @Darrin Carey.   I am thinking if its not closed by next week I'm am going to do just that. I just put a message into my agent regarding pulling the file and changing companies.

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