Here are the top three reasons to select your own title company when buying a foreclosure home in Calvert County. Here is what happens after your offer is accepted by the bank: they want to sell you on using their title company instead of choosing one yourself and they say it is paid for. If it sounds too good to be true it is. By law you as a buyer of real estate get to choose your own title company. Below are the top 3 reasons why you should select your own title company when buying a foreclosure in Calvert County.
1 – You do not save money. I have not seen any buyer save money by choosing the banks title company. I have also asked other agents if they have seen their clients save money and it is a definite no. Some agents even said it actually cost the buyer more.
2-Deed issues can come up where the deed can not transfer after the closing occurs. Sometimes the banks’ title companies do not check to see if tax, water bills, HOA and other items are paid.
3- Communication – The banks title company is working for the bank and they do not communicate effectively with the lender and the buyer agent.
