title companies and realtors

sky's · 08-28-2019, 03:23 PM

ok i have to vent. im in the process of buying some property in Sandwhich. and ive been informed by my realtor i have to seek out a title company and set up the closing. seriously ive never had to do that before and perhaps im wrong? and my apologies in advance if so but shouldn't your representing realtor do that for you???

Jeanzb1 · 08-28-2019, 03:32 PM

I’m pretty shocked. Yes, the bank or the title company or your realtor should be doing that.

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Woodsy · 08-28-2019, 06:09 PM

Usually the Real Estate Agent recommends a Title Company.... as they are usually schmoozed, wined and dined so as to send business their way.

If not ask your loan officer who they recommend... as the banks have to deal with title companies all the time.

My gf is a loan processor for Bank NH... she recommends

Normandin-Cheney-O'Neill
Brokers Title & Closing
Summit Title Services
Accurate Title

Hope this helps!

Woodsy

Hillcountry · 08-28-2019, 06:28 PM

Quote:

Originally Posted by sky's

ok i have to vent. im in the process of buying some property in Sandwhich. and ive been informed by my realtor i have to seek out a title company and set up the closing. seriously ive never had to do that before and perhaps im wrong? and my apologies in advance if so but shouldn't your representing realtor do that for you???

Tell her/him sure I’ll take care of that! Kiss your commission bye bye.

camp guy · 08-28-2019, 06:30 PM

Your representing realtor is running a big risk to his (her) reputation by not making the arrangements for the closing. The average home buyer is not fully versed in all the steps involved in buying/selling a home, even if they have done it before - over time things change. This is the type of service that makes an Agency "full-service", and why clients return. Also, I would think that the commission would underwrite the closing services.

Stand your ground!!

Major · 08-28-2019, 06:56 PM

I highly recommend Edmund Hibbard of Wescott Law. Ed will arrange the engagement of the title company. It’s not a big deal, one call should take care of it.

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Woody38 · 08-28-2019, 07:23 PM

I am totally amazed by this. We have purchased 10 properties and never has this occurred. Naturally the California property was given to the title company who did the whole transaction. Only thing with them was they were terrible.
The first property we purchased in Massachusetts was handled by the realtor completely. I believe all others were handled by the bank loaning the money.
Definitely talk to the originator and discuss the situation with her/him.

___________________________________

I am a retired workaholic and continuing aquaholic

kawishiwi · 08-28-2019, 08:09 PM

When I bought a boat slip on Winni I was also told that I needed to set up title & closing myself.
Maybe this is due somehow to a relatively lower sale price than for a home?
I used & can recommend Red Door title.

Is this a cash sale?
All of my transactions with boat slips were cash deals and I set up closings for them. Maybe thats the reason?

codeman671 · 08-28-2019, 08:13 PM

Not necessarily. If you are buying property and paying cash it is your responsibility to pick your own title/closing company. They can make recommendations but don’t have to set up for you. If you are financing, the bank will arrange it. The seller typically prepares the deed though.

For financing, Bank of New Hampshire is great. Call Tammie Mahoney and tell her Jason sent you. They typically use Accurate Title.

DesertDweller · 08-28-2019, 08:29 PM

I agree with what Codeman and Kawishiwi are saying. We bought a boat slip without financing a few years ago and we picked the title company. We called around to a few places and ended up using Red Door Title Company. They did a nice job and as I recall were a few bucks cheaper.

joey2665 · 08-28-2019, 09:05 PM

I also agree with codeman if your buying for cash it is your responsibility in New Hampshire to find a title company. If you are financing your bank will make recommendations. I have used 3 local banks BNH, Franklin and Metedith for residential and commercial all have been good. For title companies I prefer Frank Michel from Lawyers Settlement in Meredith but paramount is also good.

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Sue Doe-Nym · 08-28-2019, 09:41 PM

When we bought our place 20 years ago, we were told that we didn’t need title insurance, that an attorney review would be sufficient. Insist on it...money well spent! Your realtor should be able to recommend at least one company that the real estate firm has found reputable.

sky's · 08-29-2019, 05:15 AM

Quote:

Originally Posted by sky's

ok i have to vent. im in the process of buying some property in Sandwhich. and ive been informed by my realtor i have to seek out a title company and set up the closing. seriously ive never had to do that before and perhaps im wrong? and my apologies in advance if so but shouldn't your representing realtor do that for you???

i should have stated that yes it is a cash transaction. however i still think its a courtesy that should be carried thru. sorry for not adding that originally

TiltonBB · 08-29-2019, 06:01 AM

Quote:

Originally Posted by sky's

i should have stated that yes it is a cash transaction. however i still think its a courtesy that should be carried thru. sorry for not adding that originally

One thing to think about: If you pick the title company their only loyalty is to you. If the realtor picks them their only interest is in a closing and a commission.

When it has been possible, I have picked a title company when buying property. It isn't very difficult and they know who they are working for. If the purchase is for a substantial amount you may be able to negotiate settlement fees such as title insurance.

Wifi-1 · 08-29-2019, 06:10 AM

Each time I bought with a mortgage or re-fied, the bank assigned the title company

Every cash sale, my lawyer handled it.

garysanfran · 08-29-2019, 06:32 AM

The bank/lender is going to protect their position in assuring the collateral is unencumbered and free-and-clear.

Merrymeeting · 08-29-2019, 06:44 AM

Quote:

Originally Posted by sky's

i should have stated that yes it is a cash transaction. however i still think its a courtesy that should be carried thru. sorry for not adding that originally

It being a cash transaction really shouldn't matter. The more important question is whether you are paying a normal commission to the realtor. If so, the service should absolutely include full title service. If you negotiated a lower or no commission, you get what you paid for..

tis · 08-29-2019, 07:00 AM

I totally agree with Merrymeeting. Cash or not, the realtor has always taken care of the title company or attorney for us.

umbrellapoint · 08-29-2019, 09:10 AM

The lawyers I have used have always set up title insurance for me without issue.

Slickcraft · 08-29-2019, 09:34 AM

Quote:

Originally Posted by Sue Doe-Nym

When we bought our place 20 years ago, we were told that we didn’t need title insurance, that an attorney review would be sufficient. Insist on it...money well spent! Your realtor should be able to recommend at least one company that the real estate firm has found reputable.

Yes always get buyers title insurance.

Descant · 08-29-2019, 12:06 PM

In my mind as I read the thread, there is confusion in some posts about whose Realtor does what. The sellers Realtor represents the seller, and the seller pays the commission to that Realtor. If the buyer has his own Realtor, (as he should) then s/he would provide advice and some services to the buyer.
I was a buyer in two condo conversions where the seller said their title company had done the work for all units and you could buy it for a low fixed price, but you were also free to make your own arrangements.

08-28-2019, 03:23 PM	#1
sky's Senior Member Join Date: Jan 2010 Posts: 274 Thanks: 68 Thanked 76 Times in 52 Posts	title companies and realtors ok i have to vent. im in the process of buying some property in Sandwhich. and ive been informed by my realtor i have to seek out a title company and set up the closing. seriously ive never had to do that before and perhaps im wrong? and my apologies in advance if so but shouldn't your representing realtor do that for you???

08-28-2019, 06:09 PM	#3
Woodsy Senior Member Join Date: May 2004 Location: Weirs Beach Posts: 1,966 Thanks: 80 Thanked 980 Times in 440 Posts	Usually the Real Estate Agent recommends a Title Company.... as they are usually schmoozed, wined and dined so as to send business their way. If not ask your loan officer who they recommend... as the banks have to deal with title companies all the time. My gf is a loan processor for Bank NH... she recommends Normandin-Cheney-O'Neill Brokers Title & Closing Summit Title Services Accurate Title Hope this helps! Woodsy __________________ The only way to eliminate ignorant behavior is through education. You can't fix stupid.

08-28-2019, 06:30 PM	#5
camp guy Senior Member Join Date: Apr 2004 Location: formerly Winter Harbor, still Wolfeboro Posts: 1,189 Thanks: 301 Thanked 527 Times in 294 Posts	title companies and realtors Your representing realtor is running a big risk to his (her) reputation by not making the arrangements for the closing. The average home buyer is not fully versed in all the steps involved in buying/selling a home, even if they have done it before - over time things change. This is the type of service that makes an Agency "full-service", and why clients return. Also, I would think that the commission would underwrite the closing services. Stand your ground!!

08-28-2019, 08:09 PM	#8
kawishiwi Senior Member Join Date: Apr 2014 Posts: 519 Thanks: 227 Thanked 167 Times in 108 Posts	Maybe it's the size or dollar value? When I bought a boat slip on Winni I was also told that I needed to set up title & closing myself. Maybe this is due somehow to a relatively lower sale price than for a home? I used & can recommend Red Door title. Is this a cash sale? All of my transactions with boat slips were cash deals and I set up closings for them. Maybe thats the reason? __________________ "I don't take responsibility at all."

08-28-2019, 09:41 PM	#12
Sue Doe-Nym Senior Member Join Date: Jul 2009 Posts: 1,427 Thanks: 745 Thanked 790 Times in 414 Posts	Title insurance When we bought our place 20 years ago, we were told that we didn’t need title insurance, that an attorney review would be sufficient. Insist on it...money well spent! Your realtor should be able to recommend at least one company that the real estate firm has found reputable.

08-28-2019, 03:32 PM	#2
Jeanzb1 Senior Member Join Date: May 2009 Location: Gilford Posts: 555 Thanks: 628 Thanked 176 Times in 95 Posts	I’m pretty shocked. Yes, the bank or the title company or your realtor should be doing that. Sent from my iPhone using Winnipesaukee Forum mobile app

The Following User Says Thank You to Jeanzb1 For This Useful Post:
sky's (08-28-2019)

08-28-2019, 06:56 PM	#6
Major Senior Member Join Date: May 2013 Location: Laconia Posts: 1,079 Thanks: 446 Thanked 1,018 Times in 424 Posts	I highly recommend Edmund Hibbard of Wescott Law. Ed will arrange the engagement of the title company. It’s not a big deal, one call should take care of it. Sent from my iPhone using Tapatalk

08-28-2019, 07:23 PM	#7
Woody38 Senior Member Join Date: May 2016 Posts: 578 Thanks: 46 Thanked 110 Times in 81 Posts	I am totally amazed by this. We have purchased 10 properties and never has this occurred. Naturally the California property was given to the title company who did the whole transaction. Only thing with them was they were terrible. The first property we purchased in Massachusetts was handled by the realtor completely. I believe all others were handled by the bank loaning the money. Definitely talk to the originator and discuss the situation with her/him. ___________________________________ I am a retired workaholic and continuing aquaholic

08-28-2019, 08:13 PM	#9
codeman671 Senior Member Join Date: Jan 2005 Posts: 3,499 Thanks: 221 Thanked 815 Times in 489 Posts	Not necessarily. If you are buying property and paying cash it is your responsibility to pick your own title/closing company. They can make recommendations but don’t have to set up for you. If you are financing, the bank will arrange it. The seller typically prepares the deed though. For financing, Bank of New Hampshire is great. Call Tammie Mahoney and tell her Jason sent you. They typically use Accurate Title.

08-28-2019, 08:29 PM	#10
DesertDweller Senior Member Join Date: Aug 2011 Location: Las Vegas, NV and Moultonborough, NH Posts: 374 Thanks: 25 Thanked 86 Times in 72 Posts	I agree with what Codeman and Kawishiwi are saying. We bought a boat slip without financing a few years ago and we picked the title company. We called around to a few places and ended up using Red Door Title Company. They did a nice job and as I recall were a few bucks cheaper.

08-28-2019, 09:05 PM	#11
joey2665 Senior Member Join Date: Sep 2008 Location: Meredith Bay & LI, NY Posts: 3,222 Thanks: 1,219 Thanked 1,009 Times in 649 Posts	I also agree with codeman if your buying for cash it is your responsibility in New Hampshire to find a title company. If you are financing your bank will make recommendations. I have used 3 local banks BNH, Franklin and Metedith for residential and commercial all have been good. For title companies I prefer Frank Michel from Lawyers Settlement in Meredith but paramount is also good. Sent from my iPhone using Winnipesaukee Forum mobile app

08-29-2019, 06:10 AM	#15
Wifi-1 Senior Member Join Date: May 2019 Location: Moultonboro, NH Posts: 213 Thanks: 196 Thanked 87 Times in 57 Posts	Each time I bought with a mortgage or re-fied, the bank assigned the title company Every cash sale, my lawyer handled it.

08-29-2019, 06:32 AM	#16
garysanfran Senior Member Join Date: Jul 2009 Location: San Francisco/Meredith Posts: 1,573 Thanks: 668 Thanked 680 Times in 347 Posts	If you're financing... The bank/lender is going to protect their position in assuring the collateral is unencumbered and free-and-clear. __________________ Gary ~~~~_/) ~~~ ~~~~~~~~

08-29-2019, 07:00 AM	#18
tis Senior Member Join Date: Jan 2006 Posts: 6,739 Thanks: 752 Thanked 1,458 Times in 1,015 Posts	I totally agree with Merrymeeting. Cash or not, the realtor has always taken care of the title company or attorney for us.

08-29-2019, 09:10 AM	#19
umbrellapoint Member Join Date: Apr 2018 Location: Boston / Wolfeboro Posts: 23 Thanks: 7 Thanked 16 Times in 13 Posts	The lawyers I have used have always set up title insurance for me without issue.

08-29-2019, 12:06 PM	#21
Descant Senior Member Join Date: Mar 2006 Location: Merrimack and Welch Island Posts: 4,365 Thanks: 1,351 Thanked 1,624 Times in 1,056 Posts	Whose Realtor? Lawyer? In my mind as I read the thread, there is confusion in some posts about whose Realtor does what. The sellers Realtor represents the seller, and the seller pays the commission to that Realtor. If the buyer has his own Realtor, (as he should) then s/he would provide advice and some services to the buyer. I was a buyer in two condo conversions where the seller said their title company had done the work for all units and you could buy it for a low fixed price, but you were also free to make your own arrangements.

The Following User Says Thank You to Descant For This Useful Post:
joey2665 (08-29-2019)