title company agent… - Posted by Matt (MPD)
Posted by Matt (MPD) on July 12, 2002 at 05:24:26:
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.
MPD Investments Inc.