Is anyone using a title company for their negotiations? If so, how has the process been? Ant particular good/bad ones you recommend?

 

Thanks!

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That would be any:)
Some are, some are not. I do not use a title company for negotiations but my title partner is on my authorization letter in case they need to do something to help me, like ask for extensions, etc.  I handle the file until the approval letter arrives and then the title company takes over and gets it closed
Paula - I do my own negotiations.  If you are using a title company, make sure they are abiding by the new FTC MARS rule.
Thanks Wendy and Jeff. The MARS rule is exactly why I am looking for someone else to do negotiations and know some agents use a title company.
I negotiate my own short sales. Properties that I have brought Buyers to with a Title Company negotiating have been an experience with dealing with a disinterested third party.
Two title companies that had advertised as handling your short sale negotiations, when asked about this said that they do not "negotiate"; they "process" the paperwork and act as a facilitator. Which means the service is useless.
I've found that it just gums things up.  Too many cooks stirring the pot...
Paula, why would you let a third party, who has no duty to serve your clients and does not specialize in negotiating handle the negotiations on your short sale. It does not make sense.
By now most realtor boards have made up or given MARS disclosure guidelines, so they are easy to prepare and use.

I am not trying to chastise you, but I think you are setting you and your clients up for failure. NO ONE is going to negotiate as good as you, on your clients behalf!
If you are not up to negotiating a short sale, I think you should refer out the business.

Our board just released disclosures yesterday, so I am not as intimidated by the new rules. Mostly, it is a time issue. I have a fairly strong business and a good team, which keeps me busy, without short sales. I actually asked, because someone I highly respect in this business said her title company negotiates her short sales. I wanted to see if anyone else is using that type of service.

 

Thanks for your input!

We all have to be very careful with the terms we use.  Unless your title company has a licensed agent handling the transaction it would be a RESPA violation for them to actually negotiate.  Title companies can only be facilitators or file coordinators.  I handle everything in house and direct people away from title company type negotiators etc.

 

I wouldn't outsource the negotiations of an inspection notice and I don't think you should pass off something as important as the short sale negotiations.  I consistently win listing appointments when I have a competing agent because I address the title company situation up front.

 



Paula Henry said:

Our board just released disclosures yesterday, so I am not as intimidated by the new rules. Mostly, it is a time issue. I have a fairly strong business and a good team, which keeps me busy, without short sales. I actually asked, because someone I highly respect in this business said her title company negotiates her short sales. I wanted to see if anyone else is using that type of service.

 

Thanks for your input!

No worries. Glad your business is doing well!

I am curious as to what state you are in? I don't think we even could have a title co. talk to lender on our behalf here in California.

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