WHY USE LAWYERS ADVANTAGE TITLE GROUP:
There are significant benefits to your client when using HUD’s agent:
Ø Processing HUD foreclosures for over 25 years.
Ø When issues arise, as they do, we can simply call HUD or the Asset Manager and get it resolved. When another title company is chosen, they have no understanding who to contact, which creates another layer of communication challenges and delays.
Ø NO PORTION of the seller’s contribution toward the buyers costs, $_____.00 in this case, can go toward paying a 3rd party title company’s fee’s, but is allowed to pay HUD’s agent’s fees (us).
Ø As HUD’s agent we already have the prior title work, from when HUD took back the property, and will simply need to do a title “bring to date”, which allows us to close quickly and at less expense to the buyer.
Ø We guarantee to beat any other title company’s written quote, line by line, plus your client also receives the savings on the closing fee and title insurance premium ($350.00 - $600.00).
Ø We will conduct settlement at the convenient location of your choice.
In summary, HUD really prefers their agent (us) to conduct settlement services, and has designed the system around that preference. We have been servicing HUD buyers for 20 years. Our system is smooth, easy and cost efficient.
In order to reduce the chance of last minute surprises, I want to remind you that HUD is exempt from recording and transfer taxes on property conveyances, therefore in your County the buyer is required to pay 100% of the recordation, state and county transfer taxes. The 1st time home buyer exemption is allowed and is included on line 1205, when applicable.
Also, due to changes on the banking world, your client will need to wire to our office (instead of a cashiers check), the day of settlement or before, the required “cash to close” needed to complete settlement. The reason is that banks no longer treat cashiers checks the same as cash, but hold funds 24 – 48 hours. We are required to wire to HUD, their net proceeds, within 24 hours of closing, and are prohibited from using / wiring our funds for the buyers purchase. We will provide instructions.
Thanks for considering Lawyers Advantage Title Group. We look forward to exceeding your expectations.
Lawyers Advantage Title Group
8000 Main St, Ellicott City, MD 21043