Posted by BaldRepublican on December 11, 2003 at 07:09:02:
It can’t hurt to do your own research on your deals if only for the practice so that when you have to do it yourself in a hurry because it’s a deal that needed to be signed up yesterday you’ll have the ability to do it.
My own due diligence with a realtor purchase?? - Posted by Able Learner
Posted by Able Learner on December 11, 2003 at 05:41:30:
I am getting title insurance on a purchase closing tomorrow. The job has been handled by a realtor. Do I need to check my own due diligence as far as title . . . or taxes due? Able
Re: My own due diligence with a realtor purchase?? - Posted by Kristine-CA
Posted by Kristine-CA on December 11, 2003 at 10:38:01:
Able Learner: do not close on this deal today unless you understand what’s going on.
When you say the Realtor handled the job, what job? Realtors don’t do title reports. Your purchase contract should reflect the title and escrow companies being used (and you should have selected them, or at least approved them). Ask to see the title report that the title company is insuring against. That is where you will find all the info about liens and taxes. The seller also needs to see this report as he/she usually wants to know where their proceeds are going.
The purpose of title insurance is so that you are covered in the event of a title problem. The title company does the due diligence on the title. It’s your responsibility to understand the title report.
Please take your time here today. Do not close on this property until you’ve seen and understood the title report.
Sincerely, Kristine
Re: My own due diligence with a realtor purchase?? - Posted by Marcos
Posted by Marcos on December 11, 2003 at 08:37:11:
For my title work, whether buying or selling. I ALWAYS USE MY TITLE COMPANY. The buyer or seller can use whoever they want, however I’m still going to use my OWN TITLE COMPANY. I trust them, I’ve done business with them numerous times, and I know they will treat me right.
Are you positive you’re getting title insurance? Would you know it when you see it? Like I said in your other post, this whole thing sounds fishy to me.
HTH,
Marcos
Re: My own due diligence with a realtor purchase?? - Posted by JoeS
Posted by JoeS on December 11, 2003 at 07:40:07:
Even though I buy through a realtor I never have them do anything else for the deal. Their job is to sell properties, not Title work! My philosophy is an age-old saying…“If you want something done right do it yourself”. I add “…and in a timely manner”. Just my 2 cents.