Be on top of things! If there are tax pro-rations for small burgs or HOA dues for subdivisions make sure you know what has to be paid because many times they will not find those things in their search.
You want all that paid by the Seller and it may involve work on your part to get it done.
What is delayed is the Broker compensation. It is mailed after the fact.
I had one compensation check that took over a month after the closing to arrive.
Make sure they have all of your information correct and you have a contact person.
Good Luck with your sale,
I dont understand how your buyers are being misled. Most REO sellers use a specific title company for their REO closing. There are a variety of these types of companies and most of them seem to be based on PA or somewhere in the NE. I have not seen any based in GA.
This means that the title company will do all of the title work. They will then contract a local GA closing attorney to conduct the transaction then disburse the funds.
This has been the process for the last 4-5 years with REO transactions.
Rodney Mason, NMLS #151088
Sr Loan Officer
825 Juniper St NE, Atlanta, GA 30308
Office: (404) 591-2453
Apply Online at http://www.rodneymason.com
Licensed in Alabama & Georgia with over a decade of mortgage lending experience.
Prospect Mortgage offers a full selection of mortgage programs including:
Conventional | FHA | FHA 580-639 FICO | FHA 203K Renovation (Streamline & Consultant) | HomePathÂ® | HomePathÂ® Renovation | HomeStyleÂ® Renovation | VA | USDA | GA Dream | Jumbo Financing.
I will leave the ethics to someone else, but out of state title companies can handle a home purchase closing in the state of Georgia, although there must be an attorney involved in the transaction which appears to be the case here. It may not be desirable but it can be legally done.
Timothy Brown | LPO Manager
Evolve Bank & Trust
11605 Haynes Bridge Road Suite 125 | Alpharetta, GA 30009
678.468.5626 x110 | fax 678.935.1156 | cell 678.467.9959