You surround yourself with professionals, who are each assigned different tasks. They need to do them. If your attorney feels he CANNOT answer that question, then he should answer by saying something along the lines of' " I don't have the information to answer that question." And he should not just avoid you.
No one should give you bad information, but everyone should answer questions. So if the best way to answer a question, is by directing you to another professional, he should do that.
If the question relates to the attorneys own fee, then ask again if you do not have a clear understanding of what you will be charged and what conditions could cause that estimate to change.
Good luck to you!
Unwavering Commitment to Service
It sounds like you have been given great advice. I hope you are able to take the appropriate steps to put you back in control of this vitally important life-decision.
You're lucky to be able to purchase right now and take advantage of this market. But never let those who are suppose to support you, represent you and look out for your best interest, take advantage of you.
Best of luck,
David Jaffe-SRES, CDPE
Next, and I am most surprised to get this answer from a NJ realtor. The attorney orders the title report from their title company. They should be able to get a proposed title bil. As far as escrows go, every lender will be exactly the same, and in NJ, because of the quarterly tax, it is generally around 5 months, but I sometimes say 6 just to be on the safe side. Also, there is the attorney fee also.
Now, after those fees, which might be close to $10,000 in East Orange, the remaining lender fees, assuming that Larry is using someone who is not going to be taking advantage of him, and he has not chosen to pay points to lower his rate, will be about $1600. So, exactly which of the fees are primarily lender fees again?
If there is any change between the time you qualified and the time you close, it has to be disclosed to you. If your lender hasn't (obviously not) or won't give you a Good Faith Estimate, you can make a formal complaint. Do not sign anything that you don't understand. Ask for information, insist on transparency.
Still, in that case he ought to be the one to say: "I'm sorry, but the best person to answer that is your loan officer." Or settlement company. Or (though it's debated below) your agent.
But avoiding you? Get a new lawyer.
Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
Ask your agent for a buyers or sellers net and you'll have a good idea till the HUD is prepared.
The numbers tend to change right up to the closing, so.......
For an agent to go out on the limb and provide you with a premature closing number could become problematic down the road. The best thing to do is to wait and be patient until the numbers become more definite. There shouldn't be an problem with a "ballpark" figure.