Seller’s Title Company and You the Buyer at Closing

My Buyer clients and I always debate closing costs on REO listings. If we are seeking to buy a corporate owned property, we generally retain our right to use our own title company and closer. The main (and obvious) reason we do this, is that we want to make certain all information is pertinent and accurate. Another reason is that we want our own representation at the closing table.  Is the seller’s title company going to make sure your buyer is not over paying?

Many REO agents try to “strong-arm” a buyer into using their title company. If everything is clear, (and costs are more conservative) it can be a good option. However, a good agent and buyer will always review the HUD (closing statement) before signing anything. If the seller’s title company offers discounts for convenience it might be a smart option as long as you understand all terms.