For doing a double closing with a short-sale (I use the trust way, etc etc). I have my title agent take care of the double closing but what happens when the end buyer wants to use their own title company? How do I convince them to use mine? Isn’t it the seller’s right to chose the title company if they are paying title insurance? Traditionally who choses the title company?
Traditionally who ever pays for the title insurance picks who they use…
The title insurance is for the buyer, not the seller. So generally the buyer can choose who they purchase their title insurance through. For a double close you can use two different title companies. Use your own for the first close, between you and the lenders, then they can use their title company for the second close. This of course only works when the situation is set up correctly.
GooD Luck! :beer
can you tell us more about how to do this correctly? i can see this working but i can also see the second title company not cooperating.
I generally pick the title and escrow company and I always tell the buyer they need to use ours because everything is already completed - most are fine with it - i don’t like using others because my experience is they want to double close and they don’t tell me - so i usually insist they use ours - if they don’t want to then that’s fine but i make it clear that they cannot double close - the fees are set up to be paid from the seller so they have no other reason to use their own (that’s our situation anyway).