Monday, June 24, 2013

Do I need to close with an attorney?


Do I need to close with an attorney?

No and yes.  Unlike other areas of the country, Central Florida does not routinely have closings done by attorney offices.  They consist of people trained or experienced in title work, but there most likely is not an attorney affiliated with the title office.  As such, there are many title companies have inexperienced and incompetent title agents, that are not savvy in catching mistakes, or knowledgeable on fixing a problem. 

Here is a basic example, I had a buyer that needed to close quick and in jeopardy of losing their rate lock if they did not close by a certain date.  The buyers husband was traveling for work that week, and could not sign.  I said "No problem" you can be a power of attorney (POA) for your husband.  When I requested the POA be completed the title company handling the transaction, they said they do not offer that service and would take 24 hours to review the request.  In my 10 years, I had never heard of this.  So instead of arguing with this company,  I had our title office, draw one up in 10 minutes, and got it approved by the lender and closed on time.  Unnecessary drama for a routine service that all title companies offer.  There are plenty of more stories.

Even though utilizing attorney's is not overly common, we do recommend that you have an attorneys title office handle the title work and closing.  Or you have a attorney review the other companies title work to make sure everything was done correctly, and no short cuts done.