New York and Title Companies…What’s the Story? - Posted by B.L. Renfrow
Posted by B.L. Renfrow on May 25, 1999 at 16:23:35:
As I am relatively new at this - I’ve done a couple of flips - I’m looking to expand into other areas of REI and need advice from more experienced New York investors. What’s the story on title companies in NY? Seems as if I recall hearing somewhere that they will only work with attorneys here. Does this mean we New Yorkers don’t have the option that many of you refer to of calling up a title company and getting “free” data in exchange for using their services in preparing the abstract and purchasing title insurance? If I have to pay an attorney for every quick, informal title search, that could run up expenses pretty quickly.
And, on a completely unrelated note, when referring to a deed, what does “CVG” mean? I’ve come across several purchase offers referring to a “Bargain & Sale/CVG” deed. I know, of course, what a bargain & sale deed is, but I cannot locate an explanation for the “CVG” part.
Commission Very Good? Creative Visual Guru?? Don’t think I’m even close. As always, any advice is appreciated.