Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Recently we just bought a house in bay area and the closing will be done in next week. Earnest deposit has been made to the title company our agent told us. Our realtor agent also helps us to arrange the loan (he is also our loan agent), escrow and title company. He told us that at the closing date, we will go to his office and sign all those documents (eg. settlement agreement) with him to complete the title transfer. Of course, we have to give him the cashier check for our down payment($150000) under the title company’s name.
As a first time buyer, I’m not that familiar with the closing process. Can anyone please advice is that common to sign all those title documents with the realtor agent without the closing agent (someone from the title company) together? I was told it is more common to sign the document in the title company office with the present of the closing agent. How save to give him our cashier check since we only know the name of the title company but we have never meet anyone from there nor their office.
Thanks
Last edited by pkcheng55; 11-29-2007 at 05:49 PM..
Location: Mokelumne Hill, CA & El Pescadero, BCS MX.
6,957 posts, read 22,304,764 times
Reputation: 6471
Go ahead and do it. He's probably just trying to save you an extra trip. If you want, call the title company (assuming they are also handling the escrow) and verify. It's not unheard of to have the agent also arrange loans (my company used to do it). Congratulations on your first home.
I know he is only the real estate & loan agent. For inspection and appraisal, he has arranged someone to do it. To be honest, he is very knowledgable. The reason why we are worrying is that it is too easy and straight forward since we didn't even seen another agent (except the listing agent) involoved. Anyways, I think we can have a good sleep and wait for the closing date on next week.
Location: Mokelumne Hill, CA & El Pescadero, BCS MX.
6,957 posts, read 22,304,764 times
Reputation: 6471
Just an FYI for those of you back east. In CA we don't have to get an attorney involved in the closing process. Title Companies have escrow departments and we usually just take our transaction papers into them, open escrow and the Escrow Officer handles the balance of the transaction. I like to be present when the principals sign for their side of the transaction, but that isn't required at all.
It's very simple compared to the way I understand it works in other parts of the country.
pkcheng this is a normal process so don't worry. The Title company/closing agents are just paper work processors and the vast majority of buyers never meet these people until closing.
Just an FYI for those of you back east. In CA we don't have to get an attorney involved in the closing process. Title Companies have escrow departments and we usually just take our transaction papers into them, open escrow and the Escrow Officer handles the balance of the transaction. I like to be present when the principals sign for their side of the transaction, but that isn't required at all.
It's very simple compared to the way I understand it works in other parts of the country.
You are right we always used a title co and had an escrow agent. Our realtor was never there it was really easy.We did that about four times in CA and in FL. We just closed on a house in NC and we needed a lawyer to do the title search and the close with our realtor,the builders realtor and the builder.I liked working with the Title agents any time you had a question they would call you right back. The lawyer uses a paralegel and would never get back to us with a question and had some attitude.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
