I am currently scheduled to double close on my second wholesale deal. Originally the close date was set for June 20th, (all paperwork was submitted June 9th). Two days prior to the closing date the agent informed me that several title issues still needed to be resolved and she would need a couple of days to solve them. Well, a couple of days has turned into about 1.5 months as we have still not closed the property(she cannot estimate an approximate date as to when the issues will be resolved). I expressed to the title agent that time was of the essence and that we needed to close ASAP. Her response was that she’s doing the best she can do, but the company is busy and has other closings to conduct. The two issues that she is working on is to 1) find a couple who had an installment contract on the property to sign a release and 2) getting an old mortgage released. My end buyer has been more than patient, saying that she doesn’t mind the wait, however, I am reaching my wits end. :bangheadThe agent has not returned phone calls, (one of the title issues I called on myself to get rectified), and does not return emails in a timely fashion. My question is, “what is the customary close time for a property with title issues?” Is this to be expected of should I be writing a letter of concern to the Office Manager, Sales Director of the title company?
I would have already been on the phone with your title company’s manager a month ago. If someone is not returning your calls or emails, you need to go above their heads and figure out why. That’s business, the title company is charging you a fee for a service and it doesn’t sound like you are getting the service you deserve.