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After you've already done a good title search can a title company hold your money for 6 months after closing?
Wiki User
∙ 15y ago
A title company may hold back a portion of the proceeds to pay for a repair of a physical problem with the property or a title problem. They must have given you the reason for the hold back at the time of the closing. "Doing a good title search" doesn't prevent a hold back. The title search may have disclosed a reason for a holdback. Call the title company asap and ask for an update. If it goes on for an unreasonable amount of time or they don't respond to your calls then file a complaint with your attorney general or if the title company is operated by lawyers then file a complaint with the state bar overseers.
Wiki User
∙ 15y ago
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How do you search company?
For example, you can search using Google, or you can search whether the company is mentioned in the Wikipedia.
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As a manager at a J. Jill store, I can assure you that the company is not closing. Although a couple of fraudulent e-mails have been circulating stating that the company is closing all stores, it is not true. In what is already a tough economic time for the country and for retail stores in general, it is really sad that someone would post this kind of rumor. Please check out the J. Jill website and the Talbot's Inc. website to get the facts about changes in our companies. Pop jjill liquidation inot your search bar and bloomberg.com has an article dated April 29, 2009 citing Gordon Bros. Liquidation being involved, that corporate staff is previewing stores, there is no replenishment being sent into stores as of June, that said, I believe closing is in the air. Talbots MURDERED the J Jill Company..................
Can you buy title insurance from someone other than the company doing the title work?
ANSWER Yes, you absolutely can buy title insurance from any company from which you choose to buy it. You can buy title insurance from a company other than the company that is doing the title work, but the company doing the title work will need to be paid by for the work that they do that if it is used to write the title insurance policy. For instance, a title company may do the title search and that search will be paid by whoever hired them to do the search. That search can be purchased and a certified copy of it can be used by another title insurance agent to actually write the title insurance and sell you the title insurance policy. If a title company does a search or anything else without being hired by the person responsible for paying for the service, than they may not get paid, no matter whether or not they've already completed the work. If you want to use another title company, other than the one who has already been doing what they refer to as "title work", and you haven't hired them; you absolutely have the right to pay the company of your choice for the services that you are responsible for paying. If the company you decide not to use wants to be reasonable and sell the new title company the "work" they may have done, for what it would cost you had you bought it from the company of your choice, than you or the new title company can choose to purchase that "work". Remember this: The actual title work continues through and beyond the closing. Its not just doing a search, but it also includes every aspect of pre-closing, closing, and post-closing responsibilities. So any title company who tells you they've already done all the "title work" is wrong. Bottom line, pick your own title company and compare prices, just like you would for anything else you that you on which you choose to spend money. ANSWER "Title Work" usually refers to the business of issuing title insurance. Only a title agency can issue title insurance. And yes, by law, you have the option of hiring whoever you choose to. Your question is a little confusing as you refer to a title agency "that is already doing the title work." Did you start with one agency and then decided to use another one now? Or did your attorney, real estate agency or lender choose the first agency for you and now you have decided to use someone else? If you hired one company and simply changed your mind after they started the work, you are still obligated to pay them for any services rendered. A title agency is no different that any other business. If they did work for you, they are still entitled to be paid for whatever work they provided, regardless of whether or not you switched companies. You may end up paying the first company for whatever work they performed in your behalf and still paying full fees to the 2nd company for their services. A title agency will search all recorded documents on the subject property, as well as real estate, sewer/water, assesments and judgment liens. They will then prepare a Binder/Commitment/Report on Title that is the intent to insure and issue a final Lender and/or Owner Policy. This usually referred to as the "title work". In many states, but not all, the title agency is can also act as the settlement agent and will prepare the closing statement, coordinate the closing with all parties involved, and disburse the lender's funds to the appropriate parties. However, an attorney may also do the same, depending on your particular state's practices. In some states, only an attorney can disbuse and act as Settlement Agent. In some states, you must be a licensed attorney to own and operate a title agency. In some states, it is legal to charge for a title agency to charge whatever they want to for their premium and search charges, in other states, like NJ, all fees are highly regulated and a title agency can charge only the filed fees and rates. By the way, most title agencies will not accept another agency's abstract/search work or "purchase" the same from another agency. They would just do a new search/abstract and bill you for it. There are too many liability issues using someone else's search/abstract since the new title agency would not know the quality of the first company's searchers/abstractors.
Does title insurance pay for a lien that was missed at closing?
Yes that is what title insurance is for. However, there is a very good chance that the title insurance company will sue the attorney who was supposed to do the title search in the first place as they obviously didn't do their job.
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A company wishing to increase their SEO should email them and send a few payments to push your company's ranking up a few million. You can never ever be promised a #1 ranking on any of them but you can be promised a #1 page but if your company isn't already you will most likely have enough money to boost you company up to it.
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