Well, I'm answering because this person is apparently in Utah, South Weber, according to the city they'd posted the question. Title insurance law is very different here compared to other states. I certainly don't answer questions from other states for which I'm not familiar with their RE law. I've only asked to get questions for my state only. The seller pays for title ins to cover the buyer and the buyer pays for title ins to cover the lender. I've been licensed almost 8 yrs here and have closed many transactions on both sides, about 50/50. Everything I've seen and heard over the years here is that buyers certainly can choose which title co they go to. If this buyer is concerned about it they have a right to choose which title co here in Utah. That's all I'm stating, I know many in other states do not get how it's done here in Utah. :)
In Utah the seller does pay for title insurance covering the buyer. The buyer pays for title insurance covering the lender. I've also heard that Utah is the last state to do this also.Mack, Washington State it says here the buyer chooses which title co. It states:"If your seller insists you use a certain title or escrow company, or threatens to cancel the transaction if you use another company, he or she is violating RESPA. To find out more about RESPA, visit the U.S. Department of Housing and Urban Development (HUD) online at http://www.hud.gov/offices/hsg/sfh/res/respamor.cfm#CF or you may file a complaint with HUD or with DFI at www.dfi.wa.gov/consumers/complaint.htm. http://www.dfi.wa.gov/consumers/pdf/consumers_guide_title_escrow.pdf I can't find a state government link such as above with the information as to how the law is in Utah. Our Broker has always said the seller can't dictate which title co the buyer closes with. The seller can have their own title co and the buyer can have their own separate title co. This may sound strange to those who are out of state but this is the norm here. :)This article states who pays for what title ins here in Utah. This is the norm we see in Utah.http://www.deseretnews.com/article/615154111/Sellers-as-well-as-buyers-pay-title-insurance.html?pg=all
In Utah we're what I've heard the last state to allow split closings. In Utah it is against Utah law for a seller to dictate which title co a buyer can close with whether bank owned or not. Yes, in Utah buyer can choose which title co they're closing with. What does your agent say? Have them confirm with their broker. I hope this helps. :)
Zestimates in Utah are not very accurate. Utah is a non-disclosure state so the information that zillow gets for their zestimates comes from public records in other states but not in Utah. The sales prices are not disclosed publicly in Utah.Just take the value the zestimate gives your home with a grain of salt so to speak. Don't put too much credibility into these values.In Utah to get an accurate value of your home you'd need to have an appraisal done or talk to a Realtor. Appraisers and Realtors have access to the sold listings and information about such.Let me know if you'd like to have a Comparative Market Analysis done of your home, basically it's a valuation.
Utah is a non-disclosure state. This means that sales price of real estate isn't available publicly as in other states. So, of course the zestimates in Utah are not accurate for this reason. Public records is where zillow gets their numbers for valuations. In Utah we take the zestimates with a grain of salt. I wouldn't worry about it too much.To get a real estimate of one's home one would have to either have an appraisal done or call a Realtor.I looked up this address on the local Multiple Listing Service and I'll just say the sale didn't close on that date nor for that price, but close on price.
Yes, there is what is called "Utah Housing" available. There are specific qualification guidelines. Talk to a lender to find out if you qualify under these guidelines. Utah Housing can help with down payment as well as with closing costs if not covered by the seller.
Wow! She didn't even tell you why? That's odd, poor customer service. I can send you a few lender's ph# to get a second opinion. I guess she didn't even give you an opinion in the first place. :)Contact me via Zillow if you'd like to get some lenders names, #'s to talk to.
Seller and agent fraud? Do you care to elaborate on the situation?
I agree with the first two answers. None of the $$ is the sellers until it funds and records with the county. They should not be asking for your Earnest Money to be released to them whatsoever. They get their funds from title co after the sale closes. I do hope you have your own representation in this transaction with your own agent. Best of luck to you! :)
I concur, it's best to talk to a local lender. I can recommend some lenders if you'd like. Send me an email: firstname.lastname@example.org.