Hi folks,
Is it better and cheaper to have an attorney do the closing or a Title Company? What are the pro’s and con’s?
In states where you have the option, I find title companies are more efficient because real estate settlements are their only business. They have the forms on hand, the systems in place, and the processess down pat. By the way, title companies are often run by real estate attornies.
Hey Dave, good to see you…
rkim, After doing in business in New York, an attorney state, and FL, which isn’t… I find that deals are less complicated and close more quickly here in FL.
If you are buying a residential property, and there are sufficient RE forms available for contracts and such… I’d go with the title co and a good realtor.
If you are not as confident, a real estate attorney can help…
I’ve done it both ways and in the case of using an atty, it was actually a paralegal doing all the paperwork with a an atty in the background when needed. I prefer the latter way as I found some/many people at title companies really do not understand what they are doing and refuse to answer even the simpliest questions regarding contract interpertation.
The title company is simply conducting settlement for both the buyer and the seller. The title company has to remain impartial. Asking them to interpret your contract is asking them to be your attorney, which would create a conflict of interest for them. Of course, they are going to refuse.
If you want your contract interpreted at the settlement table, you need to have your own attorney present.