Robert Lindley

Hello Sarah,

I agree with Jim Johnson.

You may also want to consider hiring a transactional attorney or realestate agent that can assist you with the contracts and other complicated matters. If you have the right contacts, this should not be that costly (around $500-1000). I have seen FSBO transactions go bad, and this is not a pretty site. I own a title insurance company and have been thrown in the middle of these problems in the past.

I have a great attorney to use if you are interested.

Please let me know if I can assist you in any way! - Tue Aug 5 2008, 18:02

Hello Jarrett:

As Benjamin mentioned, there are massive changes taking place in the title industry. Most of these changes are downsizing, closing offices and even closing entire companies. Don't get caught with your files at a company that is closing it's doors or unstable. This could cost everyone in the transaction too much money to take the risk.

My opinion is that large title companies may not be the most ideal to work with in our current climate. Smaller title companies are generally able to provide personalized service and the flexibility you need to get your transactions closed smoothly. I cannot stress how important the skill level of your escrow officer is. A great account executive is useful but they cannot make up for what a strong escrow officer can do for you. I would like to give a few examples of large versus small title company.

Example:
#1 You schedule a closing and the loan documents arrive late delaying the closing for 2 hours.

In a small title company like ours we are generally able to accommodate your closing because in many cases we use a presenter to facilitate the closing instead of the escrow officer.

In the large company, you will find that the escrow officer/closer generally has a very tight schedule and if you miss your scheduled closing time the closing is pushed to the next day. This occurs because they are presenting the closing themselves.

#2 You have many liens and judgments on the title of the property that do not belong to the seller.

In the small company you will find that the title and escrow operations communicate very well and are generally willing to work this situation until complete resolution is met, while communicating with the client along the way.

In the large company environment the communication between the title operations and the escrow operations is generally a little more cumbersome. In many cases, they put the work back on you to get the evidence needed to remove the liens from title. You as the customer in many cases will feel this disconnection.

Furthermore, financial stability is paramount! Large entities in many cases are leveraged far beyond their means. Small companies in general have to be much more conservative and therefore have greater stability.

Please let me know if you would like any additional information!
! - Tue Aug 5 2008, 17:23