Title Commitment

[satxproperty]

Hello,

I just received a title commitment from the closing attorney's office ... in the cover letter to me it says, "For you to review with your client"

While I do read title commitments, I didn't know it was my responsibility to "review" title commitments with my client. Isn't that "legal advice" ... I thought strange the closing attorney would have wording like that on a letter to me.

When I see something that seems out of the ordinary on the commitment I will inform the clients and advise them to seek competent advice.

Are agents supposed to "review" title commitments with clients? Can someone define "legal advice?"

Thanks

[RESteve]

Where I draw a line is when they start asking me to "interpret" what this means, or what that means. For the most part, on title commitments, I do what you do: look for any lien, judgement, etc. that could cause a problem.

In my experience, however, a good title rep will take care of this stuff for you. I'd say hand it to your client, but if they have questions to contact the title company attorney.

[satxproperty]

Where I draw a line is when they start asking me to "interpret" what this means, or what that means. For the most part, on title commitments, I do what you do: look for any lien, judgement, etc. that could cause a problem.

In my experience, however, a good title rep will take care of this stuff for you. I'd say hand it to your client, but if they have questions to contact the title company attorney.

Typically we close at the title company office... this seller demanded to use the escrow/closing services of an attorney's office. (Attorney has no duty to seller or buyer)

The title company is a different county.

[RESteve]

That's odd; I wonder if they made that decision simply to save money, regardless that the commitment prices are set by the state and dont' vary from title company to company.

None the less, I'd still contact a title company I'm in good with. Don't you have title reps banging down your doors for business? I'd give one of those reps (sales reps) a call, and see if he'd be willing to hook you up with a free look-over on the title commitment you got (just in case you miss anything).

They're always willing to do free stuff for us to secure future business. That's the route I'd take. Regardless, I wouldn't try to review completely myself.

[satxproperty]

There isn't anything, that I saw, out of the ordinary on the commitment... I just gave it to them and told them if they have any questions to contact the title company that is under-writing the policy.

I just thought it odd that the closing attorney's office would send a letter to a real estate agent telling them to review it with my client.

(We are closing in San Antonio, the house is in a different county.)

[Ryocheck]

In Alaska we have a newer law that requires us to provide the title commitment to the buyer and have them acknowledge in writing the receipt. They then have 5 days to review it and terminate the contract if there is an issue. Similar to a re-sale certificate.

I have yet to loose a deal because of a title commitiment but I guess there is a first for everything.

[satxproperty]

In Alaska we have a newer law that requires us to provide the title commitment to the buyer and have them acknowledge in writing the receipt. They then have 5 days to review it and terminate the contract if there is an issue. Similar to a re-sale certificate.

I have yet to loose a deal because of a title commitiment but I guess there is a first for everything.

Pretty much assured that liens will be taken care. With houses in subdivisions and a title policy in place there usually isn't too much to worry about.

But, easements, mineral estates, oil & gas leases etc. can be issues with buyers that might not otherwise be readily known.