You take a buyer out, after showing them 10-20 homes, they identify the home of their dreams, It’s an REO, most likely. Now you go through the hassle of getting in touch with the listing agent, is the house still available? You write on the house, submit the contract. There are 22 offers already.
Counter-Highest and Best
Contract Accepted-You Got it- Yipee!
Now, you are told you have 24 hours to open escrow, oh yea and “You Must Use XYZ Title company in Peoria, Scottsdale maybe Glendale-one thing is for sure, it will be nowhere near where you or your client are. Oh and mobile signing (HA-Forget about it!)
Escrow is open:
Trying to get a hold of the escrow officer-not fun-Voicemail
Assistant-doesn’t know much about your file-Voicemail.
Frustration-If You Could Only Choose Your Own Title Company!! This would have never happened!
Well, Now you can. That’s because Fannie Mae will now allow your buyer to choose their own title company!
Fannie Mae has altered their sales addendum for REO properties so the buyer can now choose their own title company. When you see the addendum to the contract, review Section 2B, page 1, line 4; Look for “The closing shall be held at a place so designated and approved by the Purchaser“. The truth is, your clients have always had the right to choose the title company and the addendum change now reinforces that right.
What does this mean to you? Well, if you choose Old Republic Title Agency, you will:
Get a fantastic service experience with one of the best escrow officers around
Old Republic Title Agency is one of few title companies in the valley that works with Fannie Mae
You get to take advantage of our Advantage Program!
The Old Republic Title Insurance Group has An A to A+ financial stability rating from Standard and Poor, Moody’s, Fitch and A.M. Best. We are not going anywhere. Your clients Title Policy will be there if its ever needed.
Unsurpassed Ratings
And get this, we answer the phone! Lack of Communication is the #1 complaint in the Real Estate Industry-Isn’t that sad? In a service occupation like escrow and title many have forgetten the Service! We have not.
I will be more than happy to pick up your contract and drop off your check at closing.
We hope you will choose Old Republic Title Agency on your next escrow. Thank you!
Old Republic Title Agency
1744 S. Val Vista Drive Suite 213
Mesa, AZ 85204
Office: 480.892.2306
Fax: 480.892.2680
For All Your Marketing, Escrow and Title Needs
Tags: Arizona Real Estate, Arizona Reo, Fannie Mae, Fannie Mae Change, Fannie Mae Title Company
