Replies to This Discussion

Permalink Reply by AMY GERRISH on February 22, 2011 at 7:36am

That's a new one to me. Usually it's stated in the purchase contract who the title company is going to be so that is usually sufficient.

Permalink Reply by Lori Young on February 22, 2011 at 7:36am

Seller to sign an authorization for the closing agent.  Wells Fargo wants authority to speak to the closer.  I on one file had Wells Fargo verify that the actual buyer was not a straw buyer.  No big issue everything should be disclosed.

Permalink Reply by AMY GERRISH on February 22, 2011 at 7:41am

Thanks for sharing Lori. Full disclosure is great! Just more papers to push though, lol

Permalink Reply by Pacita C Dimacali on February 22, 2011 at 8:00am

That's a new one to me. Have had several Wells Fargo short sales, and each one is different. It truly depends on the luck of the draw in terms of who the set up specialists and the negotiators are. Some are better than others. Sounds like you have one who doesn't know the common practice. You could tell him/her that this is not a requirement for escrow officers. If he/she balks, then have your seller add the escrow officer's name on the authorization.

 

 

Permalink Reply by Thom Colby CA Brkr 888-391-5245 on February 22, 2011 at 8:42am

This is a new one.... but no surprise... too many straw buyers popping-up and they are trying to make sure nothing "funny" is going on.  If it were me, I would do a conference call with WF and Title Officer and you so you can hear what they are asking for :-)

 

Thom Colby

Broker / Negotiator

Newport Beach CA

Permalink Reply by Jeff Payne on March 7, 2011 at 7:21am

I have my title company already on my authorization letters just in case