settlement agent request
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settlement agent request (by Nicole [PA]) Oct 12, 2021 9:47 PM
       settlement agent request (by Nicole [PA]) Oct 12, 2021 9:52 PM
       settlement agent request (by DJ [VA]) Oct 12, 2021 10:01 PM
       settlement agent request (by Ray-N-Pa [PA]) Oct 12, 2021 10:11 PM
       settlement agent request (by Oregon Woodsmoke [ID]) Oct 13, 2021 10:57 AM
       settlement agent request (by Nicole [PA]) Oct 13, 2021 5:44 PM

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settlement agent request (by Nicole [PA]) Posted on: Oct 12, 2021 9:47 PM

As may who read my posts can assume, I don't like change. I don't like busy work for the sake of "it's how it's done". I don't like giving up any control.

Selling a property and the buyer's settlement agent sent a generic form that I understand the general purpose of but mostly doesn't apply to me or this transaction. I am to sign the bottom so in my eyes, I am agreeing to everything on the form.

My signature authorizes release of all payoff information and applicable fees. FREEZE lines of credit. There are no payoffs. I already filled that out on another form. Lines of credit are on other properties. I do not need some bimbo trying to get a payoff for a mortgage or taxes on another parcel and then try to charge me for it. I certainly don't want them to freeze an account that has nothing to do with this transaction. It gives them permission to speak to anyone about anything. I get it, they need to contact the township and the tax collector but there is no one else so I don't want to give them permission to speak to anyone else.

I realize that 99% of the time this will go smoothly with no issues but I don't like signing paperwork that is not needed.

Nothing I change would affect the outcome - free and clear vacant property being sold for cash with no contingencies ... all bills are paid so minimal prorations, etc.

Just get over it, get along with everyone and walk with my check? Cross off, change wording and initial what I dislike?

settlement agent request (by Nicole [PA]) Posted on: Oct 12, 2021 9:52 PM

oh ... and why do they want my birthdate? I realize I give them my driver license at closing but why do they need it now? A lien search will NOT show someone with a similar name. I get it if your name is Michael Miller ... probably 2 dozen of them in my county and they need to be certain but when they run my name, anywhere, I am the only one on this continent. So I know it's not needed now ... if they were to somehow come up with something specific they needed it for, I'd provide it with no problem.

settlement agent request (by DJ [VA]) Posted on: Oct 12, 2021 10:01 PM

I agree with you. From what you've described, they don't need all that. They wouldn't get it from me.

There are enough buyers out there, if they don't know how to complete such a simple deal as that.

Cash, no contingency, clear title. Simple. Tell them to move on if they can't get their stuff together & make the deal. Do you think they will?

I wonder if this is a brand-new agent, who doesn't understand much yet?

Just checking off the boxes on a "standard" list the broker gave them.

Can't recognize a deal that is not "standard"?

BTW: I have NEVER heard of such as thing as the buyer wanting the seller to freeze the seller's lines of credit. Did I understand that right? CRAZY!

settlement agent request (by Ray-N-Pa [PA]) Posted on: Oct 12, 2021 10:11 PM

Our local tax collectors just starting charging for a fancy report that just outlines the same data that you can find on a common GIS system

settlement agent request (by Oregon Woodsmoke [ID]) Posted on: Oct 13, 2021 10:57 AM

Well, without actually seeing the form, my suggestion is to add the line to each answer: only as it applies to *whatever the address is*. That way they don't have carte blanche.

Don't sign stuff that you shouldn't sign, but don't mess up your sale by enforcing your alpha status unnecessarily. Stuff your pride away and get the sale done and over with.

settlement agent request (by Nicole [PA]) Posted on: Oct 13, 2021 5:44 PM

DJ, this is a settlement agent nationwide with an aba with one of the largest real estate companies nationwide. It's a standard form that I imagine is sent on every transaction.

The buyer per se doesn't want to freeze my helocs. If a heloc was on this specific property, it gets frozen so I am not out there the day prior to settlement writing checks that won't be presented until after closing. One of my concerns is someone sees a heloc, doesn't pay attention, and orders a payoff with a request it be frozen.

Oregon - you said along the lines I was thinking. I think I will doctor the form up. Take it in and hand deliver it tomorrow. Request the settlement agent come to the front to talk to me so I can hand it to her and specifically tell her my concerns.

Ray, it's $25 here for the certification. Receipt hand stamped from the tax collector isn't good enough. But it's been that way for probably 30 or 40 years.

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