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I would guess that in both cases, the buyer could have stepped in and said "no, use XYZ escrow service". The general idea is that the person that pays the fee
by OldHand2018 5y ago
I would guess that in both cases, the buyer could have stepped in and said "no, use XYZ escrow service".
The general idea is that the person that pays the fee at closing is the person that gets to choose the service provider.
I could say more about the various "incentives" that some of the service providers offer to be the "default", but, well, I don't want to do that ;)
- conductr 5y agoNope. As a seller, that’s a big nope. If you want my property, I choose the title company. End of story.
- OldHand2018 5y agoGo for it. But unless you pay (or it is a cash-only deal), it's a violation of federal law and the buyer can come after you later on for 3x the cost. End of story. https://www.law.cornell.edu/uscode/text/12/2608 https://www.law.cornell.edu/uscode/text/12/2608
- conductr 5y agoOh wow, I've only ever sold to cash buyers & come to think of it my preferred title company wasn't even a point of negotiation. I suppose it does protect the buyer more, I just like working with a competent and fast title company