DVC Closing/ Fee Questions

[Jfine]

Has anyone switched title companies around the time of closing? We’ve passed ROFR and I’m having some small concerns with the firm who is doing the closing. This firm was requested by the buyer as they have a family member working there. The broker hasn’t been super helpful. They did say they’ve done other closings with this group (but it sounds like all the same buyer) and there’s not been any issues. But the broker also keeps mentioning that they basically want to close the deal.
Has anyone switched at the last minute? Do both parties need to agree? Or as I’m guessing since they’re on the contract, it’s a done deal?
Also has any seller been charged fed ex (or similar shipping) fees? I thought this would be part of closing fees that are paid by the buyer? It’s not listed on our contract as our fees either.
Any other suggestions for a seller?

 

[Networth]

From what I understand which ever party is covering closing cost gets to decide the title company used for the transaction.

 

[Sleepy425]

I inquired about using a specific title company for my next purchase (still waiting to find the right contract, but have a friend who works at a title company that offered to help me out with the next one), and was told it had to be submitted with the offer. I could not change it once the ball had started rolling. It may vary with each company, but that at least is the info I received.

 

[Jfine]

Thanks all! Our broker mentioned there’s some companies/law firms they don’t work with, so it seems like they have a say as well. I’m just going with we’re stuck with them since they’re on the contract. Lesson learned.

Any feedback on shipping/fed ex etc. fees? Anyone know why these would be separate from closing costs? I feel like the firm is trying to save their family member some money and make us pay it, but maybe I’m wrong.

 

[supersnoop]

The cost to mail the signed papers back to the title company has always been on my dime, at least for the five contracts I’ve dealt with. Keep in mind that the sellers are frequently less motivated or have more hoops to jump through. I always mail my papers back in a regular envelope with a single stamp. There’s no need to spend the money on overnight delivery.

 

[Jfine]

The cost to mail the signed papers back to the title company has always been on my dime, at least for the five contracts I’ve dealt with. Keep in mind that the sellers are frequently less motivated or have more hoops to jump through. I always mail my papers back in a regular envelope with a single stamp. There’s no need to spend the money on overnight delivery.

On your dime as the seller or buyer? We’re the sellers in this contract

 

[supersnoop]

On your dime as the seller or buyer? We’re the sellers in this contract

I’d hope it’s irrelevant. The cost for me to mail my papers is on me, no matter which side I’m on. But in my five cases, I’ve been the buyer (and only four actually closed).

 

[Jfine]

I’d hope it’s irrelevant. The cost for me to mail my papers is on me, no matter which side I’m on. But in my five cases, I’ve been the buyer (and only four actually closed).

We’ve always received prepaid envelopes from the title companies in our previous contracts. The contracts we’ve had as buyer and seller have never assigned shipping charges as a separate line item (this is our 4th contract). If I could ship it myself on my own dime, I would. They’re charging us mailing fees for sending the documents and our check. This firm doesn’t do anything electronically so it’s all through mail. It’s $100+. I get in the overall numbers it’s a small percentage, but I still feel like it should have been disclosed or part of the closing fees (which are paid by the buyer).

 

[supersnoop]

We’ve always received prepaid envelopes from the title companies in our previous contracts. The contracts we’ve had as buyer and seller have never assigned shipping charges as a separate line item (this is our 4th contract). If I could ship it myself on my own dime, I would. They’re charging us mailing fees for sending the documents and our check. This firm doesn’t do anything electronically so it’s all through mail. It’s $100+. I get in the overall numbers it’s a small percentage, but I still feel like it should have been disclosed or part of the closing fees (which are paid by the buyer).

You’re saying the title company is charging you as the seller for shipping charges? I’ve never heard of that before. If you’re contract says that the buyer pays closing costs, then if push back on it.