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Updated over 8 years ago on . Most recent reply

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3
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Rado Tsanev
  • Rental Property Investor
  • Parkton, MD
0
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3
Posts

Signed ALTA at settlement

Rado Tsanev
  • Rental Property Investor
  • Parkton, MD
Posted

Hello Everyone,

I just finished my first foreclosure and at settlement the seller and I signed the ALTA on two different pages. He signed one and I signed a different and the title company combined them (the picture shows the seller signed ALTA and I have another with my signature). The title company is telling me that this is normal but I am not so sure. Here is their response when I asked them: shouldn't the signatures be on the same page?

"Logically, yes, and that is how things "used to be done". Those days are long gone in the REO world. With a conventional transaction, buyers and sellers share equality; in the REO world, the Seller rules. The seller is disposing of a property at a discounted amount, they therefore hold the gold and the industry plays by their rules"

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