Real Estate Closings in NH

Tadpole · 06-25-2011, 01:29 PM

We have been told that most real estate closings in NH are handled by Title companies - true? If so, do people still get attorneys? From just a quick Google search, it appears to me that the Title companies are run by lawyers. Has anyone closed on property using only a Title company? Any recommendations? Also - what does Title insurance normally cost?

upthesaukee · 06-25-2011, 01:43 PM

Quote:

Originally Posted by Tadpole

We have been told that most real estate closings in NH are handled by Title companies - true? If so, do people still get attorneys? From just a quick Google search, it appears to me that the Title companies are run by lawyers. Has anyone closed on property using only a Title company? Any recommendations? Also - what does Title insurance normally cost?

The only person that is truly there to protect your interest in a real estate transaction is your attorney. Not only would he/she make sure that the purchase and sales agreement is A-OK, the atty will also be at the closing to make sure that your rights are totally protected.

Closing atty does not represent the seller or the purchaser. His interest is to make sure the closing is done to the benefit of the Bank.

songkrai · 06-25-2011, 02:06 PM

Quote:

Originally Posted by upthesaukee

The only person that is truly there to protect your interest in a real estate transaction is your attorney. Not only would he/she make sure that the purchase and sales agreement is A-OK, the atty will also be at the closing to make sure that your rights are totally protected.

Closing atty does not represent the seller or the purchaser. His interest is to make sure the closing is done to the benefit of the Bank.

Agree with above.

Slickcraft · 06-25-2011, 02:23 PM

When we purchased our home in West Alton in 1998 we hired a title company (Philpot in Laconia) even though there would be no mortgage. We still wanted a title search and we wanted to get buyers title insurance. As we agreed to pay Mr Philpot a fee, we were under the impression that we had hired a lawyer to represent us. When I called to ask about the legal implications of a shared driveway, he told me to hire a lawyer if we wanted legal advice!.(I won't get into my response). He took the position that he was only representing the title insurance company even though we had hired him.

So always be represented by an attorney who has no connection to the bank and/or title company. You just never know what might be lurking in the weeds.

Tadpole · 06-25-2011, 03:07 PM

So - how do closings happen if there is no mortgage involved? Do lawyers do it? Who handles a title search - do we get our own title company or does a lawyer handle that? In other words, what's the process?

Slickcraft · 06-25-2011, 03:16 PM

Quote:

Originally Posted by Tadpole

So - how do closings happen if there is no mortgage involved? Do lawyers do it? Who handles a title search - do we get our own title company or does a lawyer handle that? In other words, what's the process?

There are lawyers who will represent you and do a title search for you in a no mortgage situation. Look for one that has real estate as a specialty and make you expectations clear up front, something that I had failed to do. The sellers lawyer does the deed and would probably handle the closing but your guy or gal should be involved.

tis · 06-25-2011, 03:23 PM

Call your lawyer and tell him you are buying a piece of property. It is really as simple as that. I would not bother with a title company.

Tadpole · 06-25-2011, 03:38 PM

We're in MA

and have no idea who to use. Any recommendations? Need one in the Moultonborough area.

This'nThat · 06-25-2011, 07:01 PM

If you're a buyer, I recommend getting an attorney to represent your interests. Cost should be around $500 plus/minus.

If you're a seller, there is no need for a lawyer unless you're in an unusual situation. A title company should be sufficient. Cost is $125-$175 for most seller transactions, including recording fees.

TiltonBB · 06-25-2011, 07:31 PM

The need for an attorney depends on what your concerns are. If you want a good attorney in that area call Frank Michele, NH Closings in Meredith.

I have had over 50 closings for mortgages on properties, some in excess of one million dollars, and never brought my own attorney. The mortgage company can select an attorney or title company and it will be someone that they are comfortable with. If a lot of mistakes were being made the mortgage company wouldn't be using them.

Everyone (lawyers, title companies, banks) has insurance for errors and omissions so if your concern is just about your mortgage then don't waste your money.

If you have other concerns about the property such as right of way or boundaries then you should pay a good real estate attorney. Don't use a business, divorce or criminal attorney because they may not have participated in a closing in recent years and you might know as much about real estate as they do.

Sue Doe-Nym · 06-25-2011, 07:37 PM

TadPole, please understand the difference between hiring your own attorney and the functions of a title company. A title company will have a search done for you and sell you title insurance (recommended) if you desire. Your lawyer will basically represent you by inspecting relevant documents prior to settlement plus checking everything at setlement.

kauriel · 06-25-2011, 09:16 PM

We used Lawyers Settlement Services in Meredith for our purchase with no mortgage involved. They were very helpful and offered title insurance (I think it was a couple hundred dollars for our condo purchase).
http://www.nhtitleclosings.com/

Irish mist · 06-25-2011, 09:35 PM

Quote:

Originally Posted by Slickcraft

When we purchased our home in West Alton in 1998 we hired a title company (Philpot in Laconia) even though there would be no mortgage. We still wanted a title search and we wanted to get buyers title insurance. As we agreed to pay Mr Philpot a fee, we were under the impression that we had hired a lawyer to represent us. When I called to ask about the legal implications of a shared driveway, he told me to hire a lawyer if we wanted legal advice!.(I won't get into my response). He took the position that he was only representing the title insurance company even though we had hired him.

So always be represented by an attorney who has no connection to the bank and/or title company. You just never know what might be lurking in the weeds.

Yes....this guy ! I had issues with him also.

lawn psycho · 06-25-2011, 10:52 PM

My advice to anyone buying a house or property is to get a full survey of structure locations, set-backs, in addition to the standard boundary markers.

It amazes me how much this comes up in real estate.

Paugus Bay Resident · 06-26-2011, 06:42 AM

I've used Lee Mattson on a number of transactions and have been very happy. Would not buy / sell without my own representation. As mentioned above survey too.

http://www.mattson-law.com/

tis · 06-26-2011, 07:09 AM

Quote:

Originally Posted by TiltonBB

The need for an attorney depends on what your concerns are. If you want a good attorney in that area call Frank Michele, NH Closings in Meredith.

I have had over 50 closings for mortgages on properties, some in excess of one million dollars, and never brought my own attorney. The mortgage company can select an attorney or title company and it will be someone that they are comfortable with. If a lot of mistakes were being made the mortgage company wouldn't be using them.

Everyone (lawyers, title companies, banks) has insurance for errors and omissions so if your concern is just about your mortgage then don't waste your money.

If you have other concerns about the property such as right of way or boundaries then you should pay a good real estate attorney. Don't use a business, divorce or criminal attorney because they may not have participated in a closing in recent years and you might know as much about real estate as they do.

Didn't Tadpole say he didn't have a mortgage. Therefore a closing is not a big deal. Most NH closing we have had, we have not even gone to. The lawyer just does it. All we need to do is sign the papers.

Randy Walker in Wolfeboro still has a special real estate division I am pretty sure. It is right next to the Yum Yum Shop in downtown Wolfeboro.

songkrai · 06-26-2011, 09:56 AM

Quote:

Originally Posted by Paugus Bay Resident

I've used Lee Mattson on a number of transactions and have been very happy. Would not buy / sell without my own representation. As mentioned above survey too.

http://www.mattson-law.com/

Agreed. One of his specialties is real estate/land.

8 NH Route 25, P.O. Box 1596,
Meredith, NH 03253-1596, (Belknap Co.)

Mailing Address:
P.O. Box 1596,
Meredith, NH 03253-1596

Phone
Phone: 603-279-9940
Fax: 603-279-9965

Website
http://www.mattson-law.com

06-25-2011, 01:29 PM	#1
Tadpole Member Join Date: Jun 2009 Location: Western MA Posts: 33 Thanks: 4 Thanked 18 Times in 7 Posts	Real Estate Closings in NH We have been told that most real estate closings in NH are handled by Title companies - true? If so, do people still get attorneys? From just a quick Google search, it appears to me that the Title companies are run by lawyers. Has anyone closed on property using only a Title company? Any recommendations? Also - what does Title insurance normally cost? __________________ "Don't breed and buy while shelter pets die." - from a Shelter Manager

06-25-2011, 02:23 PM	#4
Slickcraft Senior Member Join Date: Mar 2008 Location: Welch Island and West Alton Posts: 3,219 Thanks: 1,175 Thanked 2,002 Times in 915 Posts	Yes get your own When we purchased our home in West Alton in 1998 we hired a title company (Philpot in Laconia) even though there would be no mortgage. We still wanted a title search and we wanted to get buyers title insurance. As we agreed to pay Mr Philpot a fee, we were under the impression that we had hired a lawyer to represent us. When I called to ask about the legal implications of a shared driveway, he told me to hire a lawyer if we wanted legal advice!.(I won't get into my response). He took the position that he was only representing the title insurance company even though we had hired him. So always be represented by an attorney who has no connection to the bank and/or title company. You just never know what might be lurking in the weeds.

06-25-2011, 03:07 PM	#5
Tadpole Member Join Date: Jun 2009 Location: Western MA Posts: 33 Thanks: 4 Thanked 18 Times in 7 Posts	Trying again So - how do closings happen if there is no mortgage involved? Do lawyers do it? Who handles a title search - do we get our own title company or does a lawyer handle that? In other words, what's the process? __________________ "Don't breed and buy while shelter pets die." - from a Shelter Manager

06-25-2011, 03:38 PM	#8
Tadpole Member Join Date: Jun 2009 Location: Western MA Posts: 33 Thanks: 4 Thanked 18 Times in 7 Posts	Good lawyer? We're in MA and have no idea who to use. Any recommendations? Need one in the Moultonborough area. __________________ "Don't breed and buy while shelter pets die." - from a Shelter Manager

06-25-2011, 07:01 PM	#9
This'nThat Senior Member Join Date: Dec 2006 Posts: 534 Thanks: 19 Thanked 134 Times in 61 Posts	Buyer or Seller? If you're a buyer, I recommend getting an attorney to represent your interests. Cost should be around $500 plus/minus. If you're a seller, there is no need for a lawyer unless you're in an unusual situation. A title company should be sufficient. Cost is $125-$175 for most seller transactions, including recording fees.

The Following User Says Thank You to upthesaukee For This Useful Post:
songkrai (06-25-2011)

06-25-2011, 03:23 PM	#7
tis Senior Member Join Date: Jan 2006 Posts: 6,411 Thanks: 720 Thanked 1,381 Times in 957 Posts	Call your lawyer and tell him you are buying a piece of property. It is really as simple as that. I would not bother with a title company.

06-25-2011, 07:31 PM	#10
TiltonBB Senior Member Join Date: Feb 2005 Location: Gilford, NH and Florida Posts: 2,897 Thanks: 644 Thanked 2,153 Times in 900 Posts	Attorney The need for an attorney depends on what your concerns are. If you want a good attorney in that area call Frank Michele, NH Closings in Meredith. I have had over 50 closings for mortgages on properties, some in excess of one million dollars, and never brought my own attorney. The mortgage company can select an attorney or title company and it will be someone that they are comfortable with. If a lot of mistakes were being made the mortgage company wouldn't be using them. Everyone (lawyers, title companies, banks) has insurance for errors and omissions so if your concern is just about your mortgage then don't waste your money. If you have other concerns about the property such as right of way or boundaries then you should pay a good real estate attorney. Don't use a business, divorce or criminal attorney because they may not have participated in a closing in recent years and you might know as much about real estate as they do.

The Following User Says Thank You to TiltonBB For This Useful Post:
NHBUOY (06-25-2011)

06-25-2011, 07:37 PM	#11
Sue Doe-Nym Senior Member Join Date: Jul 2009 Posts: 1,372 Thanks: 710 Thanked 758 Times in 393 Posts	TadPole, please understand the difference between hiring your own attorney and the functions of a title company. A title company will have a search done for you and sell you title insurance (recommended) if you desire. Your lawyer will basically represent you by inspecting relevant documents prior to settlement plus checking everything at setlement.

06-25-2011, 09:16 PM	#12
kauriel Senior Member Join Date: Jul 2010 Location: Laconia, N. MA Posts: 290 Thanks: 119 Thanked 62 Times in 44 Posts	We used Lawyers Settlement Services in Meredith for our purchase with no mortgage involved. They were very helpful and offered title insurance (I think it was a couple hundred dollars for our condo purchase). http://www.nhtitleclosings.com/

06-25-2011, 10:52 PM	#14
lawn psycho Senior Member Join Date: Jul 2009 Location: On the move... Posts: 987 Thanks: 113 Thanked 248 Times in 133 Posts	My advice to anyone buying a house or property is to get a full survey of structure locations, set-backs, in addition to the standard boundary markers. It amazes me how much this comes up in real estate.

06-26-2011, 06:42 AM	#15
Paugus Bay Resident Senior Member Join Date: Sep 2003 Location: Gilmanton, NH Posts: 754 Thanks: 136 Thanked 92 Times in 51 Posts	I've used Lee Mattson on a number of transactions and have been very happy. Would not buy / sell without my own representation. As mentioned above survey too. http://www.mattson-law.com/