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Updated almost 10 years ago on . Most recent reply

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Bryan Bacallao
  • miami lakes, FL
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Pros and Cons of using sellers title company?

Bryan Bacallao
  • miami lakes, FL
Posted

So I've noticed something while scouring through numerous amounts of listings online. I've seen quite a few properties that require the buyer to use the sellers title company? What are the pros and cons of this? 

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Steve Babiak
  • Real Estate Investor
  • Audubon, PA
8,351
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Steve Babiak
  • Real Estate Investor
  • Audubon, PA
Replied

Maybe some of those sellers had a closing like one of my flips from a few years back. Buyer insisted on using closing agent they selected rather than one I suggested that was actually closer to where the buyer lived (and the one I suggested was also closer to the property being sold).  It was January, snow and ice coming down, and we're rushing for a 9:00AM closing. So we're at the closing table and buyer's lender had not yet wired funds. We're on east coast, lender is on west coast, and nobody is going to wire funds until at least noon east coast time. Waste of half a day due to letting buyer pick closing agent; my closing agent would have scheduled for the afternoon or gotten the wire ahead of time. 

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