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  1. #1
    Join Date
    Jul 2007
    Posts
    4

    Default Changing Title Companies During Escrow

    I am selling property and purchasing property concurrently in Los Angeles. From the beginning, I have told my realtor that I must have a concurrent close. When it came time to set up escrow, each property was set up with separate escrow companies and separate title companies. I was told that you must use the same title company for a concurrent close since I am using funds from the sale of the property as a down payment for the purchase.

    I am now asking if we can switch title companies (not escrow companies) during escrow to ensure a concurrent close and asking for fees associated with doing do.

    The escrow companies are saying yes and my realtor is saying no, just stay in a hotel for a few days until the property you are purchasing closes.

    What is the correct answer?

  2. #2
    Join Date
    Sep 2005
    Location
    Behind a Desk
    Posts
    98,846

    Default Re: Changing Title Companies During Escrow

    Your real estate agent says you can't switch title companies because: __________?

  3. #3
    Join Date
    Jul 2007
    Posts
    4

    Default Re: Changing Title Companies During Escrow

    My real estate agent said that all realtors prefer to use their own services and he can not go back and ask for a change.

    Actually, I started working directly with the escrow company and they are very helpful, but my agent has given me nothing but totally incorrect information and advice.

  4. #4
    Join Date
    Mar 2005
    Location
    Michigan
    Posts
    28,906

    Default Re: Changing Title Companies During Escrow

    So it apparently boils down to, the real estate agent prefers to work with the particular title agency.

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