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Old 08-28-2019, 04:23 PM   #1
sky's
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Default 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???
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Old 08-28-2019, 04:32 PM   #2
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Iím pretty shocked. Yes, the bank or the title company or your realtor should be doing that.


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Old 08-28-2019, 07:09 PM   #3
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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!

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Old 08-28-2019, 07:28 PM   #4
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Quote:
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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 Iíll take care of that! Kiss your commission bye bye.
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Old 08-28-2019, 07:30 PM   #5
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Default 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!!
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Old 08-28-2019, 07:56 PM   #6
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I highly recommend Edmund Hibbard of Wescott Law. Ed will arrange the engagement of the title company. Itís not a big deal, one call should take care of it.


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Old 08-28-2019, 08:23 PM   #7
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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.

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Old 08-28-2019, 09:09 PM   #8
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Default 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?
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Old 08-28-2019, 09:13 PM   #9
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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 donít 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.
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Old 08-28-2019, 09:29 PM   #10
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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.
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Old 08-28-2019, 10:05 PM   #11
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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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Old 08-28-2019, 10:41 PM   #12
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Default Title insurance

When we bought our place 20 years ago, we were told that we didnít 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.
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Old 08-29-2019, 06:15 AM   #13
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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
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Old 08-29-2019, 07:01 AM   #14
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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.
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Old 08-29-2019, 07:10 AM   #15
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Each time I bought with a mortgage or re-fied, the bank assigned the title company

Every cash sale, my lawyer handled it.
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Old 08-29-2019, 07:32 AM   #16
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Default If you're financing...

The bank/lender is going to protect their position in assuring the collateral is unencumbered and free-and-clear.
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Old 08-29-2019, 07:44 AM   #17
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Quote:
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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..
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Old 08-29-2019, 08:00 AM   #18
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I totally agree with Merrymeeting. Cash or not, the realtor has always taken care of the title company or attorney for us.
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Old 08-29-2019, 10:10 AM   #19
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The lawyers I have used have always set up title insurance for me without issue.
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Old 08-29-2019, 10:34 AM   #20
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Quote:
Originally Posted by Sue Doe-Nym View Post
When we bought our place 20 years ago, we were told that we didnít 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.
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Old 08-29-2019, 01:06 PM   #21
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Default 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.
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