Title Company & Lender Question - Posted by Jim L (AZ)

Real Estate Investing
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Posted by Jim L (AZ) on August 04, 2000 at 18:37:03:

You said that the only thing they may negotiate is price! Well that I do intend to negotiate, and if they don’t, then this REO will remain an REO! We’ll see what happens…

Thanks for your reply. I won’t worry about there silly requests. I’ll just stay focused on my cash offer.

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Title Company & Lender Question - Posted by Jim L (AZ)

Posted by Jim L (AZ) on August 04, 2000 at 18:16:53:

I just got some of those sheets from my realtor friend on REO properties. I want to make some all cash offers. (Don’t really have the cash but I will make low offers and if accepted I go to Mr Hardmoney) Anyway…On these spec sheets or whatever we call them, it says that the lenders want XYZ Title Company to do the closing. Can the Lender do this? Can I ask for the title company of my choice? Or does this not matter one iota due to it being an all cash offer?

I know that when dealing with FSBOs that I always get the title company that I prefer (cause they understand simultanious closings) but I have never made an offer to a lending institute.

Should I be concerned with their request or just do the deal and pick the title company of my choice when selling?

Thanks.

Jim L (AZ)

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Re: Title Company & Lender Question - Posted by dewCO

Posted by dewCO on August 04, 2000 at 18:28:28:

You can ask. You can ask all you want. But what is the difference, really, especially as you say on a cash deal? Banks on REO properties like everything their way. About the oly thing they may negotiate is price. Why throw up potential obstacles in negotiating the deal when what you really want is a great price. I say give them everything else they want (usually!).