Although the lawyer is the one “carrying out” what you perceive as your being screwed, your real beef is with the surveyor and/or seller! If necessary, retain your own surveyor and/or lawyer to get this straightened out!
Posted by Matt (MPD) on July 12, 2002 at 05:24:26:
Misunderstood,
I’m not sure why you feel there is a conflict of interest. Here in IL., it’s a common practice for lawyers and title companies to work in this fashion. Yes, the lawyers are agents of the title company. I’m sure the lawyer will receive a commission or agent’s fee on the transaction as well. Our’s usually receives around $25 per closing.
The title company is issuing title insurance for your purchase, is it not? Other than that, what would you be concerned about? The sellers pick the title company, the attorney uses a company that he acts as an agent for and where do you see a conflict?
I didn’t mean to make this response so long. Suffice it to say what you’re seeing is the norm.
Is there a perceived problem with this? Are you afraid the attorney will short change you on the service and/or prices? Your lender is “cool” with this, but if I may ask, what problem do you have with it?
Re: and the problem is?.. - Posted by Misunderstood
Posted by Misunderstood on July 12, 2002 at 06:03:45:
I do apologize, I left out some critical facts. 6 acres of a section have “moved” to the South a bit and the survey is not “clean”. Meaning the surveyor sugggests a boundry agreement w/ the ajacent landowner. what also facinates me is that we have the sellers atty writting the deed as the title agent, this certainly is NOT in my interest.