Go Back   Winnipesaukee Forum > Winnipesaukee Forums > General Discussion
Home Forums Gallery Webcams Blogs YouTube Channel Classifieds Calendar Register FAQDonate Members List Search Today's Posts Mark Forums Read

Reply
 
Thread Tools Display Modes
Old 08-28-2019, 03:23 PM   #1
sky's
Senior Member
 
Join Date: Jan 2010
Posts: 249
Thanks: 54
Thanked 61 Times in 44 Posts
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???
sky's is online now   Reply With Quote
Old 08-28-2019, 03:32 PM   #2
Jeanzb1
Senior Member
 
Join Date: May 2009
Location: Gilford
Posts: 546
Thanks: 614
Thanked 173 Times in 94 Posts
Default

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
Jeanzb1 is offline   Reply With Quote
The Following User Says Thank You to Jeanzb1 For This Useful Post:
sky's (08-28-2019)
Old 08-28-2019, 06:09 PM   #3
Woodsy
Senior Member
 
Join Date: May 2004
Location: Weirs Beach
Posts: 1,946
Thanks: 80
Thanked 968 Times in 431 Posts
Default

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.
Woodsy is offline   Reply With Quote
Old 08-28-2019, 06:28 PM   #4
Hillcountry
Senior Member
 
Hillcountry's Avatar
 
Join Date: Apr 2016
Location: In the hills
Posts: 2,342
Thanks: 1,580
Thanked 761 Times in 456 Posts
Default

Quote:
Originally Posted by sky's View Post
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.
Hillcountry is offline   Reply With Quote
Old 08-28-2019, 06:30 PM   #5
camp guy
Senior Member
 
camp guy's Avatar
 
Join Date: Apr 2004
Location: formerly Winter Harbor, still Wolfeboro
Posts: 1,129
Thanks: 284
Thanked 480 Times in 271 Posts
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!!
camp guy is online now   Reply With Quote
Sponsored Links
Old 08-28-2019, 06:56 PM   #6
Major
Senior Member
 
Major's Avatar
 
Join Date: May 2013
Location: Laconia
Posts: 1,043
Thanks: 429
Thanked 995 Times in 412 Posts
Default

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
Major is online now   Reply With Quote
Old 08-28-2019, 07:23 PM   #7
Woody38
Senior Member
 
Join Date: May 2016
Posts: 564
Thanks: 46
Thanked 104 Times in 75 Posts
Default

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
Woody38 is offline   Reply With Quote
Old 08-28-2019, 08:09 PM   #8
kawishiwi
Senior Member
 
Join Date: Apr 2014
Posts: 519
Thanks: 227
Thanked 167 Times in 108 Posts
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?
__________________
"I don't take responsibility at all."
kawishiwi is offline   Reply With Quote
Old 08-28-2019, 08:13 PM   #9
codeman671
Senior Member
 
codeman671's Avatar
 
Join Date: Jan 2005
Posts: 3,345
Thanks: 206
Thanked 759 Times in 443 Posts
Default

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.
codeman671 is online now   Reply With Quote
Old 08-28-2019, 08:29 PM   #10
DesertDweller
Senior Member
 
Join Date: Aug 2011
Location: Las Vegas, NV and Moultonborough, NH
Posts: 361
Thanks: 24
Thanked 84 Times in 70 Posts
Default

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.
DesertDweller is offline   Reply With Quote
Old 08-28-2019, 09:05 PM   #11
joey2665
Senior Member
 
joey2665's Avatar
 
Join Date: Sep 2008
Location: Meredith Bay & LI, NY
Posts: 3,220
Thanks: 1,204
Thanked 1,007 Times in 648 Posts
Default

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
joey2665 is offline   Reply With Quote
Old 08-28-2019, 09:41 PM   #12
Sue Doe-Nym
Senior Member
 
Join Date: Jul 2009
Posts: 1,371
Thanks: 709
Thanked 756 Times in 392 Posts
Default 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.
Sue Doe-Nym is offline   Reply With Quote
Old 08-29-2019, 05:15 AM   #13
sky's
Senior Member
 
Join Date: Jan 2010
Posts: 249
Thanks: 54
Thanked 61 Times in 44 Posts
Default

Quote:
Originally Posted by sky's View Post
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
sky's is online now   Reply With Quote
Old 08-29-2019, 06:01 AM   #14
TiltonBB
Senior Member
 
Join Date: Feb 2005
Location: Gilford, NH and Florida
Posts: 2,881
Thanks: 637
Thanked 2,147 Times in 894 Posts
Default

Quote:
Originally Posted by sky's View Post
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.
TiltonBB is offline   Reply With Quote
Old 08-29-2019, 06:10 AM   #15
Wifi-1
Senior Member
 
Wifi-1's Avatar
 
Join Date: May 2019
Location: Moultonboro, NH
Posts: 213
Thanks: 196
Thanked 86 Times in 56 Posts
Default

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

Every cash sale, my lawyer handled it.
Wifi-1 is offline   Reply With Quote
Old 08-29-2019, 06:32 AM   #16
garysanfran
Senior Member
 
Join Date: Jul 2009
Location: San Francisco/Meredith
Posts: 1,488
Thanks: 602
Thanked 629 Times in 320 Posts
Default If you're financing...

The bank/lender is going to protect their position in assuring the collateral is unencumbered and free-and-clear.
__________________
Gary
~~~~_/) ~~~
~~~~~~~~
garysanfran is offline   Reply With Quote
Old 08-29-2019, 06:44 AM   #17
Merrymeeting
Senior Member
 
Merrymeeting's Avatar
 
Join Date: Mar 2003
Location: Merrymeeting Lake, New Durham
Posts: 2,216
Thanks: 299
Thanked 795 Times in 365 Posts
Default

Quote:
Originally Posted by sky's View Post
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..
Merrymeeting is offline   Reply With Quote
Old 08-29-2019, 07:00 AM   #18
tis
Senior Member
 
tis's Avatar
 
Join Date: Jan 2006
Posts: 6,386
Thanks: 716
Thanked 1,375 Times in 951 Posts
Default

I totally agree with Merrymeeting. Cash or not, the realtor has always taken care of the title company or attorney for us.
tis is offline   Reply With Quote
Old 08-29-2019, 09:10 AM   #19
umbrellapoint
Member
 
umbrellapoint's Avatar
 
Join Date: Apr 2018
Location: Boston / Wolfeboro
Posts: 23
Thanks: 7
Thanked 16 Times in 13 Posts
Default

The lawyers I have used have always set up title insurance for me without issue.
umbrellapoint is offline   Reply With Quote
Old 08-29-2019, 09:34 AM   #20
Slickcraft
Senior Member
 
Join Date: Mar 2008
Location: Welch Island and West Alton
Posts: 3,211
Thanks: 1,166
Thanked 1,999 Times in 913 Posts
Default

Quote:
Originally Posted by Sue Doe-Nym View Post
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.
Slickcraft is offline   Reply With Quote
Old 08-29-2019, 12:06 PM   #21
Descant
Senior Member
 
Join Date: Mar 2006
Location: Merrimack and Welch Island
Posts: 4,004
Thanks: 1,204
Thanked 1,498 Times in 975 Posts
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.
Descant is online now   Reply With Quote
The Following User Says Thank You to Descant For This Useful Post:
joey2665 (08-29-2019)
Reply

Bookmarks

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On

Forum Jump


All times are GMT -5. The time now is 01:55 PM.


Powered by vBulletin® Version 3.8.11
Copyright ©2000 - 2024, vBulletin Solutions Inc.

This page was generated in 0.33371 seconds