Real Estate Forums

Buying Questions about the buying Process..Contracts...forms or just what should I do? Let one of our experienced online real estate agents help.

Reply
 
Thread Tools Display Modes
Old 07-14-2007, 08:44 AM
carabeau carabeau is offline
New real estate webmaster
 
Join Date: Jul 2007
Posts: 4
carabeau is on a distinguished road
Default title search charge

We had a cash offer on a property contingent on home inspection.Our contingencies after inspection were not met and deal fell apart.We have an agent in Brunswick Georgia where sale was.We agreeed to pay for inspection and termite but have now received a bill for the title search from the closing lawyer who said our agent ordered it.Our girl says I said to order this search which I did but assumed she would do this after contingencies were met.We have a misunderstanding.We want to do the right thing but don't want to be taken advantage of.Who should pay this bill?We feel our agent jumped the gun---we were shooting for a two week closing because it was cash.We never pressed for an exact date though.
Reply With Quote
Old 07-14-2007, 09:53 AM
Malok's Avatar
Malok Malok is offline
Uber Real Estate Webmaster
 
Join Date: Jul 2007
Location: Kentucky - in a barn!
Posts: 1,183
Malok is on a distinguished road
Default Re: title search charge

You already have a thread going:
http://www.realestatewebmasters.com/thread17001.html


No reason to post twice IMO.
__________________
Jennifer Karlen & Jon Karlen
Kentucky Horse Farms - Louisville Kentucky Real Estate - Lexington Kentucky Real Estate
Serving the Louisville KY metropolitan area including Jefferson County - Prospect Shelby County - Shelbyville Oldham County - Goshen, La Grange and the Lexington KY metropolitan area including Fayette County - Lexington Woodford County - Versailles Scott County - Georgetown Jessamine County - Nicholasville
Reply With Quote
Old 10-07-2007, 10:09 PM
darrenwoodard's Avatar
darrenwoodard darrenwoodard is offline
Real Estate Web Guru
 
Join Date: Nov 2006
Location: South Carolina
Posts: 466
darrenwoodard is on a distinguished road
Default Re: title search charge

Title work takes time, therefore the agent had to order it with your two week closing. If everything went well with the home inspection, and you couldn't close because the agent didn't order the title then you would have been pissed about that. You walked from the deal and you are responsible for all fees up to that point. Now on the other hand, the agent should have contacted the closing attorney right away once the deal fell apart. That could of saved you some money.
Reply With Quote
Old 10-08-2007, 10:26 AM
RonnieG's Avatar
RonnieG RonnieG is offline
Uber Real Estate Webmaster
 
Join Date: Sep 2005
Location: Denver, Colorado
Posts: 1,084
RonnieG is on a distinguished road
Default Re: title search charge

Interesting. Here, most title companies only charge for the title work if & when the deal closes successfully. If it doesn't close, regardless of the reason, they suck it up themselves as overhead cost of doing business, and no one pays. However, since the seller generally specifies the title company, the major work only has to be done once, and if one deal fails, there is a 70% chance (allowing for listings that never sell) that there will be another deal at some point, and they only have to check for any lien changes since their last search.
__________________
Ron Goodman, GRI, REALTORŪ
Prudential Colorado Real Estate
Denver Colorado Real Estate: Highlands Ranch, Parker, Littleton, Castle Rock
Adwords for Real Estate: PPC Setup Services & Consulting
Reply With Quote
Reply


Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

For our members

Main Sections

IDX Coverage Areas

Spiders Welcome

All times are GMT -7. The time now is 05:11 PM.


Powered by vBulletin® Version 3.7.3
Copyright ©2000 - 2008, Jelsoft Enterprises Ltd.