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Why does the REO seller offer to pay for the title insurance?

By Dan Kotz on April 11, 2014 in Insurance, Real Estate

REO (real estate owned, meaning property that the bank owns as a result of foreclosure) transactions are peculiar in several ways. Because the seller does not attend settlement they require that the HUD 1 settlement statement be sent to them days in advance for signature. Until we have a confirmed settlement date from the buyer’s […]

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It was at my express request that I was given your email addresses by Debra, because I am a firm believer that when some one goes “above and beyond”, they should be recognized. Believe Debra does just that. This was, without exception or exaggeration, the smoothest closing for me to date. Debra was always organized, efficient, and one of the most pleasant people with whom I have done a closing in a long time. We are all doing more and more of the REO and distressed property closings, and this work can be very stressful, so it was a delight to have Debra on the other side. I hope I have lots more closings with First Class Title, as Debra was certainly a First Class Act and a wonderful representative of your company!!

Rita M. Buyer’s title company on an REO deal

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First Class Title, Inc. was established in 2005 by Dan Kotz, Esquire with the goal of providing First Class knowledge and First Class customer service. Mr. Kotz has hand selected his staff whose experience averages over 30 years experience each. First Class Title handles your typical refinances, home equity loans, REO sales, standard sales and represents a number of investors and servicing companies in their REO purchases and sales, along with commercial transactions.

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