Orlando Real Estate, Orlando Buyers Agent, Orlando Homes, Orlando Buyers Broker: Orlando Title Companies Cover their Butts for Problems

Orlando Title Companies Cover their Butts for Problems

Orlando Title Companies cover their butts for problems

Last week at a closing, the title company slipped in a paragraph buried in with other pertinent closing docs that stated: "IF THE BUYER CHOOSES TO SUE THE TITLE COMPANY, THEY WILL BE RESPONSIBLE FOR TITLE COMPANY'S ATTORNEY FEES". 

Of course I made the title company delete that paragraph...it had nothing to do with the closing. 

It is a well known fact that most title companies in Orlando do sloppy paperwork.     title company problems

In the last few years 35% of title companies across Florida have had their business license revoked or suspended by the state, some for something as simple as not having bond insurance and other for blatant fraudulent activity. Many Orlando title companies have closed their doors due to business drying up or for not being in compliant with state laws.

The rest of the title companies in Orlando are mediocre at best.  Studies have shown that 70% of title work is flawed and now title companies in Orlando are all jumping on the bandwagon to not be accountable...or at least scare the buyer into not suing over their shoddy title work.

Read the closing documents...

Almost all Orlando Title companies try to have a "hold harmless" or "compliance agreement" that they have the buyer sign which releases them of any screw-ups whether accidental or intentional.  They slip this in at the closing table, when the buyer is unaware.  DON"T SIGN IT...it has NOTHING to do with your closing...is just allows an incompetent title company to get by with not being accountable. Don't help Orlando Title Companies cover their butts for problems that they themselves created!

 Copyright @ Buyers Broker of Florida 2012 "Orlando Title Companies cover their butts for problems"

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Representing ONLY the best interest of the Home Buyer...never the seller.

 Eve Alexander Orlando Buyers Agent

 

Comment balloon 3 commentsMike & Eve Alexander • July 30 2012 04:05PM

Comments

Good call on that one.  Not that they would sue, but to have a provision that required them to pay for the escrow's attorney -- WOW!  I could see the prevailing party fee, but flat out if you sue you pay our attorney -- wild stuff.  Another reason why your clients are in very good hands!!

Posted by Carla Muss-Jacobs, RETIRED (RETIRED / State License is Inactive) over 6 years ago

Thanks Carla for "getting it". 

When I requested to have that removed, the title agent looked at me like I was crazy...they had to go check with "legal" because they have NEVER had anyone question it...of course not! This is a "closing", the time for no one to create waves, and let the buyer sign whatever is presented.  I think not.

Posted by Mike & Eve Alexander, Exclusively Representing ONLY Orlando Home Buyers (Buyers Broker of Florida ) over 6 years ago

Always buy title insurance. There are numerous problems that can pop up, and title insurance covers many of them.

 

Posted by Dave Halpern, Louisville Short Sale Expert (Keller Williams Realty Louisville East (502) 664-7827) 11 months ago

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