Cash buyer wants to see title report before closing?

[Michael G.]

I have a cash buyer who wants to see a copy of the title report before we double close. Said he wants to ensure there are no liens or encumbrances. My first thought is that its a good thing so there are no suprises at the closing table. My second thought is that the cash buyers attorney is going to pull title also thats why all buyers pay for title insurance right? My attorney says that someone has to pay him to pull a title search. I always figured that attorneys pull title and pay the title company after closing. Has any wholesale investor had this experience with one of their cash buyers?

[Kevin Kaczmarek]

Michael,

You should work with the title company to get the short form policy to the attorney. There really is no need for the attorney to pull title. Your short form policy that you get from the title company should be sent to the buyers attorney. When I said you have to close the attorney, what I mean by that, is the attorney will recommend to your buyer whether or not to close on the deal. Working directly with the attorney, based on the policy from the title company should be sufficient and it should save your buyer some money, as they will not have to pay for title insurance twice.

Let me know if I confused the situation or helped clarify it.