Which Documents? - Posted by Paul Sebo

Posted by dewCO on October 26, 2000 at 21:54:57:

Yes get everything signed immediately.

If the seller is paying for the title commitment who is ordering it? You need to find out. Usually the seller does. That is the title search. It will tell you whom is on title (the seller[s]) and what liens are against the property, along with lots of other stuff.

The title commitment becomes the title policy at the close of the transaction. Here you get it in the mail within 30 days after closing. If the seller is agreeing to deliver it to you, then the seller is paying for it, at least for the master policy. In CO if there are endorsements (usually $60-$120 for a SF home) then the buyer usually pays those here.

Yes, if all the title work doesn’t check out then you void the deed and don’t record it and advise the seller of this fact, as long as your contract is contingent upon you getting satisfactory info on these items.

Which Documents? - Posted by Paul Sebo

Posted by Paul Sebo on October 26, 2000 at 24:51:26:

If I have a seller that is willing to sell Subject To, I know that I get the agreement signed right now obviously, but how about the rest of the documents that go along with the subject to transaction? Do I get everything signed up immedieately, or do I wait for the title search to come back first?

This seller wants out and is willing to sign away anything needed to do the deal! So can I get it all signed now and if title comes back bad then Void it out and send it back???

Also when do I purchase the title insurance? and how much does it usually cost?

One last question: What is “Title Commitment” that is supposed to be delivered to me on or before 10 days after agreement by the seller?

Re: Which Documents? - Posted by Jack

Posted by Jack on October 28, 2000 at 21:59:17:

Are you clueless or what? You don’t need squat but a deed you pinhead.