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Fannie Mae Now Allows Buyer to Choose Their Own Title Company

Arizona Fannie Mae Title CompanyYou 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 a contract  on the house, submit the offer. 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 Have Only Chosen 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 Lawyers Title Agency of Arizona, you will:

Get a fantastic service experience with one of the best escrow officers around

Lawyers Title is one of few title companies in the valley that works with Fannie Mae. Lawyers Title is also a proud member of the Fidelity National Financial, Inc [FNF] family of title companies. Collectively FNF represents the largest title insurance and escrow services in the world.

 

And get this, they 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 forgotten the Service! They have not.

They will  be more than happy to pick up your contract and drop off your check at closing.

 

Arizona Title Company

Click For A List Of ARIZONA Lawyers Title Offices

 

 

 

 

Hope you will choose Lawyers Title  on your next escrow. Thank you!

 

 

Open Escrow With Driggs Title Agency

Congratulations! We look forward to serving you. If you would like to have a representative pick up your escrow please call 480.223.8113 or fill out the form below. Looking for a trusted referral to a REALTOR or Lender? We can help with that too. Just ask.
  • Feel free to tell me ahead of time how we can help. We look forward to speaking with you.

Stephen

Hi I'm Stephen Garner, I'm just a guy in the title industry {in Phoenix} trying to change how real estate agents market themselves and their services. To that end, I teach my clients HOW TO leverage sales technologies like WordPress, Content, Video, Camtasia, Final Cut X, iMovie and indexable IDX solutions to convey value and help your ideal client find you online when they are most interested in learning about you and your services. I work for escrows. Hire me!

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  • Hal

    I’m going through the exact situation you have described above, I’m in California and the REO title company is also but they are outsourcing everything to India.  We are 2 weeks past closing, thank god I never gave them my escrow deposit as they never gave us a prelim, it is as if they aren’t a real company; nobody speaks english and they can’t communicate. I know you are in AZ but do you have any idea what kind of addendum I can send to them to change title companies? I already signed the addendum that I would use their title company but they have failed to perform and it only seems right that I should change in order to save this deal. Any help is appreciated, thanks.

    Hal
     hlore73@gmail.com
    @gmail:disqus 

  • http://mytitleguy.net Stephen Garner

    Hi Hal, what part of California are you in? I can refer you to a title company there that can weigh your options. Because it is an REO you are buying, you may not have a choice in title company but we can find out for sure. You can reply to this comment or email me privately if you wish. Mytitleguy@me.com
    Thanks for stopping by, I hope I can help