can anyone here recommend me a good real-estate lawyer?
I came in to this deal with good faith, but there have been so many hiccups between, I'm really seriously starting to have doubt. I'm not saying there will be a problem, but if so, I'm in a vulnerable position: my escrow is in her husband's custody.
is she legally required to disclose that her husband's company has been designated as the closing company?
Consider changing the title company and still request that each party pays for their portion of closing costs without any penalties for changing the title company. If seller does not follow your lead maybe it is time to reconsider if you are not 100% comfortable with these arrangements.
1. the listing agent is one of the 2 members of the company who is selling the property, and she's signing on the sales agreement as the seller;
2. the title company's principal carries the same last name as the listing agent, share the same office.
in a nutshell, the listing agent is selling her ~own~ property and having her husband to serve as the custodian of my escrow and do the title search for me (I'm paying for the title search)
the relations in No 1 was disclosed in MLS system (to the effect that "listing agent will sign on the contract"--to the effect because I've never seen this fine prints) but not on any other site. my agent failed to disclose this to me until I found out at last minute.
the relations in No 2 was not disclosed in anyway.
is there anything begging question here? conflicts of interest?
Why are you worried?
Have they done anything unethical?
If the title fees are in line, just let them handle it, close the deal and be happy.
BTW- having a US Attorney friend in a major city, I can tell you, these Title Companies are in the crosshairs, so they know they need to walk a staright line these days,
â€¢ Title search charges (if Paragraph 9(c)(iii) is checked)
but 9(c)(iii) is not checked so it's the buyers who pay the title search charges, there is no place on the contract to let us elect to have the sellers choose the title company.
Our realtor is in Orlando, he only represents us - the buyers, he is not very helpful. It's us who found the listing agent and the title company officer share the same office suite and same last name. We are not sure if we can get our deposit back if the condo fails the inspection and we are not sure if we will get the title after we pay the balance on closing day.
2. In the Orlando area, most buyers elect to have the sellers choose the title company, at which point the sellers pay the larger portion of the owner's title policy. If you chose, as part of your offer, to choose the title company, then you would be responsible for paying the larger portion of the owner's title insurance policy.
I am not a lawyer, but If the listing agent has an affiliated business arrangement with the title company, it's the responsibility of the agent to disclose this fact to his client- the seller. I think as long as your title closing fee is within range of going rate for this area, you shouldn't have anything to worry about. But as they say, you can always consult an attorney.
3. Again, where is your realtor? Or does your realtor represent both you AND the seller?
Premium Properties Real Estate
564 N Semoran Blvd
Orlando, FL. 32807
Your sales contract should have a provision whereby you can request to withdraw your offer and a refund on your escrow monies furthermore, your Realtor is the professional who can help you do this.
Veronica Ochoa,ePRO, SFR