Posted by AnnNC on February 21, 2001 at 22:36:23:
I didn not originally expect to get comps from title companies, either, but there was a post here recently about, “just call up the title company and ask them, they will do it for a fee”, so I though I would try.
I asked same questions to my prepaid legal firm, and they said basically the same. They don’t help with
escrow. They do not do a revolving earnest money
type of account such as has been described here. The don’t “know of anyone who does anything like that”.
Nothing like Steve Cook has mentioned. I explained it to them, and they, both the title company and the atty, were not aware of any of this, and had no suggestions.
This is what I was emailed re title company, after my email to them re help with comps:
Attorneys do the closings, disbursing (in most cases,) escrows, etc. My
company only acts as an escrow agent for contracted commercial transactions
and tax deferred transactions, and there is a fee for that service.
On the norm, Title companies in North Carolina have a limited role in the
actual framework of real estate transactions. Since we are an attorney
state, the attorneys by law must perform the actual searches and closings.
They may employ the services of freelance paralegals but they are required
to sign off on all work and certify title to the title company in order to
legally obtain commitments/policies. I play a more active role only in that
I manage our referral department (transactions dealing with NC properties
via out of state lenders/placement companies.) I receive orders via FAX or
internet and place requests for title searches/closings with attorneys based
on the counties in which the properties are located (we handle the entire
Unfortunately, I’m not aware of anything I could provide that would be of
help to you. I think you’re on target when you mention the “buyer’s broker
for real estate investment” approach."
(end of their reply to me)
As I previously have posted, yes, there are data companies, one includes 8 counties, but wants the full
payment up front, not by the month, and does not correllate deed transfers with tax data, and the tax
info is updated yearly. Yearly.
Anyone from NC have any info?