How Can I Avoid Using the Title Company Sellers Brokers Wants?

[Burt L.]

I've been working on an off-market duplex deal and the owners long-time broker wants to use a specific title company that I know wont double close with an end-buyers money. Off course, I don't want to have to use flash cash at a cost of about 5K for it.

The seller is in a retirement home and the sellers spouse is deceased so there is a financial manager with power of attorney. The broker says they sold another property recently through this title company and so don't want to use another title company, though I am paying for th-e title insurance if closed at one of the companies I've used.

It would seem that that the only documents any title company would need are the power of attorney, and something equivalent to a death certificate, that was provided to the first title company - I'm not certain about document requirements though.

I've been told that I will be receiving a counter-offer with no changes to the price, but only to the terms which includes the specific title company. My buyer funds through a lender, so I don't know if the B-C can be closed at a more friendly title company, and transferred to the sellers title company. If there weren't a lender involved, that part would probably be easier.

I keep getting stuck in these requirements of a specific title company - and specific closer - whenever a broker is involved. Any suggestions on how to proceed would be much appreciated.

[Jay Hinrichs]

its not legal in any state to double close using the end buyers funds  that is a RESPA violation.. you need to find transactional funding so you bring your own dollars in.