Can you imagine, as a buyer,getting to the closing table and having the wrong documents? Having the closing agent tell you that it makes no matter. Sign the documents and everything will get cleaned up. Trust me.
No! So, you walk away from the deal because throughout the transaction your agent did not get the questions answered from the Title Company. And then this happens. There is no”trust me” in this situation. You’re done.
What could have happened differently?
The Buyer should have picked the Attorney or Title Company they knew or that their agent had experience with. Letting the Seller pick the company may have seemed like a good idea at the time as the Buyer would not pay for the Title Insurance, and perhaps they were told it was customary in their area for the seller to pay. But in the long run going with tradition or trying to save a few bucks totally tanked the deal.
As the Buyer, if you truly truly want the property enough then pay for the Title Insurance. I would. I have and it’s what I tell our associates to do. You can control the outcome when you work with someone you know and trust vs just anyone. All companies are not created equal. And it wouldn’t matter to me what is “customary” in my county or city. Picking and Paying in our area is a negotiation tool, in my opinion. Offer a little less but pick up the costs. If you’re in a multiple offer round make this a strategic move. Most importantly, do it because you know you have someone on your side that demonstrates the trust and just doesn’t talk about it.
So, stay in the driver’s seat. Pick, pay and close. And avoid the stress that happens when a closing company does not communicate, does not take responsibility and treats your deal like it doesn’t matter. Of course it does. Pick and Pay. And take your keys and enjoy your home.