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Asked by Srinivas, Maryland Thu Aug 14, 2008

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Answers

4
Fernando Her…, Agent, Gaithersburg, MD
Thu Aug 14, 2008
The Buyer normally has the choice. But you should take into consideration that a Title company has probably started the process and the most importnat factor when closing a short sale is that it happens. . .From time to time I see a short sale going bust at the last minute because of small details. The title company should help you equally if it was chosen by the seller ort the buyer.
2 votes
, , Annapolis, MD
Tue Aug 19, 2008
Typically the buyer has the right to choose (Maryland contract) but this often a request (sometimes a reqirement) of sale by the mortgage servicer that the buyer use a specific title company.
If the agent / mortgage servicer is at the top of the game they will have begun a title search at the same time or before the propety goes on the market. This is performed by a title company therefore, the mortgage servicer has already begun a relationship with the title company.
It is not an unusual request in a short sale.
Paul Bowling, CDPE, ePRO, GRI
1 vote
Kim Mills, Agent, Crofton, MD
Thu Aug 14, 2008
In Maryland, the buyer chooses the title company. Many listings say to use the lenders title company and you might want to ask what the benefit to you is but in the Md. Contract of sale, buyers has the right to choose.
Web Reference:  http://www.kimandrenie.com
1 vote
Scott Godzyk, Agent, Manchester, NH
Thu Aug 14, 2008
The buyer always has a choice. Especially in a short sale, the bank has the right to have someone represent them and complete the deed just as well as you have the right to have a closing company represent you. Normally your mortgage company will choose a closing company to complete the buyers side, such as mortgage, prom. note and all closing docs. In your offer you need to write in buyer to choose their own closing company to make it ion record. Your closing company will then get the closing docs to the sellers closing company for sellers signatures and then get the signed docs over to yours along with the deed and complete the closing. Their closing company will look out for them, make sure someone is looking out for you.
Web Reference:  http://www.ScottSellsNH.com
1 vote
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