LandInvestors.com Forums **Ask A Question** FSBO form from a title co.

  • Creator
    Topic
  • #27249
    Thomas Robbins
    Participant
    Post count: 34

    I’m buying a property right now and my title company sent a 14 page “for sale by owner document” for me and the seller to complete. A fellow investor asked why I’m doing that and that he has never done one before through a title company. Is the title company pushing their work off on me to do? I’m already a month into this deal and just want some progress. It’s a large well known company, so I just assumed this is normal and that they know what they are doing. But now I’m not so sure.

Viewing 7 replies - 1 through 7 (of 7 total)
  • Author
    Replies
  • Kevin Farrell
    Moderator
    Post count: 2093

    Thomas – They may be looking for a signed Purchase Agreement. Did you provide one to them? I have used the signed page two from the letter that we send out many times – no questions. I have also used another more detailed PA that I use when getting signature via Docusign. The PA needs to tell the title company What, Who, When and How Much so that they can do the transaction.

    I have only had one company that told me that I needed a broker or an attorney and I just went to another title company.

    Never assume that a title company knows what it is doing. Let us know what happens with this one.

    Kevin Farrell - Moderator
    Need more help?
    Schedule a 60 minute call - https://calendly.com/kevin-629

    Thomas Robbins
    Participant
    Post count: 34

    Thanks Kevin, I’ll post an update

    Thomas Robbins
    Participant
    Post count: 34

    I talked to the title agent, the form is specific to their agency just to ensure that all of the required info is there to complete the transaction accurately.

    Andrew Ajewole
    Participant
    Post count: 9

    Hey Thomas, did you end up going through with this deal? I am in a similar situation looking to double close on a property, but title just sent me a 9 page document different from the purchase agreement and now I’m considering assigning it because of the hassle. Any updates would be helpful, thanks!

    Thomas Robbins
    Participant
    Post count: 34

    Hello Andrew, Yes, I ended up closing on two properties with them. Although they didn’t seem to be too up to speed on what a double closing was, which seemed strange to me. The forms were a pain and delayed the whole process by at least a week. The forms themselves weren’t all that time consuming, it just slowed the velocity down quite a bit. I hope this helps. Good luck

    S. Jack Butala
    Participant
    Post count: 120

    Thomas, I think you did the right thing this time (closing with this particular title company). I’m not sure I would use them again. This wreaks of inexperience. Kevin is correct. We almost always use the same PA we get signed from the mailer without any contest from the title company. I would provide that first and TELL them how the deal is going to go. Most of the issues with title companies happen when you ASK them how its going to go and/or pile a bunch of work on them and wait for them to perform (like most real estate agents). Hope this helps (and great work having the patience to get this closed – this is what it takes to win in this business).

    Thomas Robbins
    Participant
    Post count: 34

    Thanks for the advice and encouragement! I really appreciate it from all of you. I will apply what you mentioned immediatley.

Viewing 7 replies - 1 through 7 (of 7 total)
  • You must be logged in to reply to this topic.