Comment

Comment by Jim Crawford on October 27, 2011 at 9:44am

The 1st attorney siad this:

"I can't indemnify Wells Fargo against everyone's
actions in the transaction" and the Residential Underwrite at his title insurance company said "No, do not sign that affidavit under any
circumstances"

Comment by Jeff Payne on October 27, 2011 at 9:33am

Good deal.  I, like Joe, would love to see a real explanation from an attorney on why they would not sign. 

Comment by Jim Crawford on October 27, 2011 at 9:29am

The 2nd closer decided to sign it as is---finally!

 

I need a BEER!

Comment by Jeff Payne on October 27, 2011 at 9:23am

Jim hang tight I will have a closer for you soon, my title attorney is going to refer one to you

Comment by joe beauchamp on October 27, 2011 at 9:23am

Amusing.  Such a relatively small issue (in short sales) and such outpouring.  Actually nice to see that there is a hearbeat out there.  HA!

So, why no specific objection mentioned by one of these lawyers?  I've only seen "don't sign it" and speculation.  My concern would be from the thought police on the term "belief" - interesting, clearly not scientific or based in fact.  So, if you are a pinhead and hate Canadians and the buyer is Canadian, you might have a belief that the buyer is planning to take over the US economy (please, take it!) by buying this house so you couldn't sign this addendum w/o doing so fraudulently.

I recommend that people dealing with WF register complaints about that phrase.  Pinheads at banks do listen - after a while - usually.  But then, I don't know why these lawyers object - just guessing.  It seems like the typical overzealous legal deskjockey at WF wanted to cover all angles - do the teamsters still require you to pledge that you aren't a communist?

Comment by Jeff Payne on October 27, 2011 at 9:21am

Jim, where does the affidavit say that the closing attorney will be held liable for the actions of others in the deal.  You need to find an attorney that actually understands short sales and one that wants to close deals.   There is nothing in that affidavit that would hold the closer liable for actions of others UNLESS they know that the others are violating the terms of the letter.  Sounds like your closer would be one to burn down the house just to prove he is homeless.

Comment by Jim Crawford on October 27, 2011 at 9:08am

It's not me, it's the closing attorneys here.  They don't want to be liable for the actions of the other parties to the deal.

 

I'll let you know if I get it closded.

Comment by Jeff Payne on October 27, 2011 at 8:52am

I am from Florida and have not heard that.  even if they told me not to, I have no issue signing this addendum, I showed it to my closing company and they also have no issues with it.

What would be the reason to NOT sign it?

Comment by Jim Crawford on October 27, 2011 at 8:39am

Is anybody from Florida?  I head a rumor that the FL Bar has told its members NOT to sign this SS addendum.

Comment by Cody Lampariello on October 26, 2011 at 6:54am

So I read through the addendum and discussed it with our attorney and I don't see any reason not to sign it. I am not a fan of it as it requires us to make statements about things that we really should know absolutely nothing about as a closing agent.

The main problem is that it's not my job to determine whether the seller is working some back of the table deal with the buyer. As a closing agent we need to clear title and transfer funds. However it does say to the best of my knowledge on the top so if anything ever came up we can simply say to the best of our knowledge there is clear title on the property and the closing was completed. Anything else is beyond our scope and you will need to discuss it with buyer and/or seller.

Just my thoughts.

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