Mortgage Loans

[youfool]

I've read that legally the buyer chooese the title company but after multiple requests about it to our realtor she texted that she already sent our file to the seller's title company. We agreed to both pay half in the purchase contract but it said the buyer still has the choice of title company and of the closing agent. I guess it might seem beneficial to use the seller's company since the survey would've been through them but I'm a little annoyed that we weren't even consulted about it.  We don't even know how much the insurance will be except for what is on our GFE based off of another company's quote. My husband's going to call her tomorrow and see what's going on.

Does this normallly happen?

[webhopper]

I totally chose my title company. It was per my realtors recommendation the first time and it was because I asked to use her again the second time. They were good and I trusted them at that point.

[webhopper]

And you need to pick your insurance as well. If you already have an insurance agent you trust; get a quote and send it to the lender and ask for a revised GFE. Sounds like the lender and realtor are leaving you out and making plans for your money without asking!

One of the lenders I was working with actually tried to push her own insurance company even after I said I wasn't buying the house if Shannon (my agent) cant insure it!

[youfool]

Wow that's crazy. Our lender just gave us a list of their affiliated companies and it said in bold we could choose whoever we wanted. We just had the lender order the appraisal on Monday and have asked our realtor a couple of times about the title b/c our gfe included a survey in the "required service to be chosen by buyer". She said we only needed to wait til closing and the next day we decided to go with another company but upon me figuring out they probably had a survey done already, we asked her again about the survey/title company. She just said the seller's weren't going to have a survey performed b/c we waived it in the purchase contract ( I didn't even ask anything about them having one done) and that we could see the plats online. So I asked again if they had a survey done WHEN THE HOUSE WAS BUILT, should we use their title company or go with our own. Then she said she had already sent our file to their title company. I gave up at that point and just said have a good weekend. Husband will call her tomorrow and see how much it is compared to the other one. I'm a little angry about it.

[webhopper]

Your realtor sounds like a real doozy... how did you manage to go see houses with her without realizing she was a real flake?

My realtor has nerves of steel and such a calm professional attitude. She's been in the business for over 20 yrs in my area...

[youfool]

I realized right away but my husband wanted to stick with her since she works for the same company that manages our rental house. We have to end our lease two months early and figured we'd have some leverage to leave without paying for those months since she is one of their agents. It would be 1700 bucks so we're just trying to deal without losing any money.

[webhopper]

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youfool wrote:

I realized right away but my husband wanted to stick with her since she works for the same company that manages our rental house. We have to end our lease two months early and figured we'd have some leverage to leave without paying for those months since she is one of their agents. It would be 1700 bucks so we're just trying to deal without losing any money.

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Do you have that deal in writing?  Based on her flakeyness I would get that in writing!  Typically the owner of the property makes those decisions, and the property manager just does what the owner tells them to do... Why would the owner of the rental let you get out two months early when he'll have to pay another finder's fee. Plus, you would still be liable to the owner if he wanted his rent. He could take you to court, and he would win.

As a rental property owner myself... I would be suspicious of ending the lease early without penalties just because you used that realtor. It would create a conflict of interest for the real estate office to basically make one customer suffer a financial loss to make a sale and commission off of another customer.

They are not likely to make their owner mad, because he would be likely to take his property somewhere else for them to manage. 

[youfool]

They had mentioned it before we rented our home that if one was bought using one of their realtors, we could break the lease without fee. They also advertise it on Craigslist. There is a clause in our rental contract but it is for a break if your job is transferred. Maybe they're telling the home owners that....

[webhopper]

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youfool wrote:

They had mentioned it before we rented our home that if one was bought using one of their realtors, we could break the lease without fee. They also advertise it on Craigslist. There is a clause in our rental contract but it is for a break if your job is transferred. Maybe they're telling the home owners that....

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Ok well I would print out a copy of that Craiglist ad and have one them sign it, or else you may be stuck owing the owner money.   If its not in your lease and if its not part of the contract you signed with them to represent you as the buyer's agent, then it never happened.

[StartingOver10]

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webhopper wrote:

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youfool wrote:

They had mentioned it before we rented our home that if one was bought using one of their realtors, we could break the lease without fee. They also advertise it on Craigslist. There is a clause in our rental contract but it is for a break if your job is transferred. Maybe they're telling the home owners that....

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Ok well I would print out a copy of that Craiglist ad and have one them sign it, or else you may be stuck owing the owner money.   If its not in your lease and if its not part of the contract you signed with them to represent you as the buyer's agent, then it never happened.

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+1000.  If its not in writing, it doesn't exist.