Ever have a client not comfortable using the title agency the Seller (Bank) requires on a foreclosure from out of the area?
Make sure your client is given the option of having a title agency that honors its fiduciary responsibility by remaining a neutral third-party to the transaction. Many times, the cost of title insurance can be borne by the Purchaser for minimal dollars on the purchase price on foreclosures.
For example, a Bank-Owned purchase price of $86,000 has a title premium of only $494.50. By letting your client know that they can purchase this title insurance, they will feel more in control of the transaction and appreciate that you gave them another option, and peace of mind.
In addition, you are able to deal with a local title agency that knows your preferences and is down the street from you.
Note: No legal advice or suggestions are being given.
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