Would Title Co. Steal Your Deal? - Posted by Patrick (CA)

Posted by Tester on October 21, 2003 at 20:35:10:

In some states, escrow+title are the same company and here in the “real world” there are situations where the Escrow/Title Officer is sleeping with a Real Estate Agent in an environment where the branch manager is always “new on the job”, so they can kind of get away with whatever they want. What, there’s no section on this in Bill Bronchick’s course?

Would Title Co. Steal Your Deal? - Posted by Patrick (CA)

Posted by Patrick (CA) on September 18, 2003 at 10:45:24:

If I have a good deal (lots of equity ? low costs going in), what prevents the Title company from letting another investor know about your deal and try to go around you? Some other questions:

  1. Do you give the title company the original P & S agreement, Seller?s Acknowledgment and deed? Or what documents to you give them?

  2. Do you tell the title company the true fair market value, so they can insure the full amount?

  3. Anything not to disclose to them?

Re: Thanks guys - Posted by Patrick (CA)

Posted by Patrick (CA) on September 19, 2003 at 17:28:17:

Makes me feel a little better.

Re: Would Title Co. Steal Your Deal? - Posted by William Bronchick

Posted by William Bronchick on September 18, 2003 at 21:12:22:

I’ve heard of a lot of crazy things, but never a title company officer stealing a deal. The officer would be fired and the company would be liable for tortious interference with contract.

And, as a practical matter, people who work for title companies processing closings are not the most, well, er, um… let’s say “independment entrepreneural thinkers.”

Re: Would Title Co. Steal Your Deal? - Posted by John Smith, IV

Posted by John Smith, IV on September 18, 2003 at 20:13:30:

Sounds to me that the title company would be very unethical in that case, plus there must be laws prohibiting that kind of behavior.