I was just wondering if I am out here alone with this experience or if this is common place. I have brought the buyer on a bank owned property and after 10 (Ten) counter offers, we opened escrow at the end of December. In our negotiations, we were able to obtain approval to use our local title and escrow company. We opened escrow and received our preliminary title report, supporting documents and NHD. The buyer's lender has loan approval and we are ready to order loan documents. Today, I get a call from the banked owned property's usual escrow officer telling me I have to use them and that everything must go through them and the bank will not pay for any fees for the title and escrow up here. My understanding is that the bank cannot require such a thing. I don't even have a fully executed contract signed by the bank as yet. Bear in mind, this was accepted on December 28, 2009. Am I the only frustrated agent out there? Please provide any feed back you can. Thank you.
With the stock market falling below the 8,000 mark, we will see a larger shift to real estate?
I'd like to take the opportunity to honor all veterans out there and to thank their families for their loved ones service and sacrifice. My special thank you goes to my son and son-in-law for their service in Iraq and my father-in-law for his service in Korea. I am proud to be an American with such heroes in my family and country. God Bless you all.
Broker Associate, Realtor Treasurer Secretary for Oroville Association of Realtors
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