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Not what it use to be! Tried to sell a piece of property in Indiana, they don't provide a purchase agreement,tiltle check, or closing!

When we had the old legal they did it all! Basically they look over the documents!

Hopefully everyone else has better luck with the reduced rate attorneys! A firm has to join the Ford Legal Group and then they agree to take a reduced rate of $100/hr with different maximum amounts allowed!

If we are being charged income for legal service at tax time then give us the money and let us pick our own SCUM BAGS(attorney's)!

FYI

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Laws pertaining to real estate closings changed some years back and I would imagine Ford is trying to keep legal services at a minimum. Closings are no longer required by law to be done by an attorney, instead they are done by a servicing company. As a former real estate agent I can tell you I do not agree with this. I have sat in on several closings, two times it was my personal property, where the documents were not in order and corrections had to be made. If an attorney is closing the deal most of the time their office can handle what needs to be done to make the correction which one time included an additional title search for an adjoining piece of ground that they forgot to include in the transaction although the sales contract specifically spelled out that it was a part of the sale. I've caught errors in settlement statements. Now that I work for Ford and getting a day off is like pulling teeth it doesn't settle very well with me if I have to take an additional day off because the "servicing company" has to send their paperwork back to an attorney for corrections.

 

Purchase agreements can be found in any office supply store or you can probably download one from the web if you have a printer. They pretty much cover everything and all you have to do is fill in the blanks.

 

Regarding title checks, most lending institutions have an approved list of attorneys who they will accept a title search from and they don't go outside of that list. Closing and title search are done by the same attorney. No attorney will close a deal using a title search from another attorney. Correction, no attorney will draw up the paperwork and send it to a "serving company" for a closing with a title search done by a different office.

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Most of the fees you mentioned are usually paid by the buyer and that may be why the attorney could not handle your transaction. Title search is required by the lender thus is charged to the buyer as part of their loan fees. I think, it's been a while, that the closing fee charged by the servicing company/attorney is split between the buyer and seller. Customary practices change over time so who knows who pays for what now. The one thing we know for sure is that Ford will squirm out of paying for anything that they can.

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Purchase Agreement. The first document signed by the parties is the purchase agreement. It is extremely important because it contains all the essential terms of the agreement. It will contain the names of the parties, the description of the property, contingencies, the purchase price, the deposit, the financing arrangements and the time for the closing. You can also make the transaction contingent upon many factors. These may include satisfactory financing, a satisfactory survey or inspection, the sale of your present home, an appraisal etc. It is not enough to discuss these items with the other party. In order to have them binding, they must be included in the purchase agreement. You must also agree to terms on taxes, special assessments and the like.

 

Preparation for Closing. Once the purchase agreement is signed, the parties must complete certain tasks to prepare for closing. Unless the buyer is paying with cash or will sign a land contract, the buyer must arrange for financing. If a mortgage is being applied for, the mortgage company or bank will order a credit investigation and the property will be appraised. Whatever the terms of payment, a title search and insurance policy will have to be ordered. Routinely, the seller will purchase this and hire the title company. This will protect both parties, since the title insurance company insures that the seller has valid title to convey. Information concerning taxes, special assessments, liens, land contracts or mortgages must also be obtained prior to closing.

 

Closing. A closing date is usually scheduled after the title insurance company has issued the commitment to insure the title of the buyer and the mortgage company or bank has approved the financing arrangements. Usually the broker or the title insurance company will prepare a closing package containing all the documents except the mortgage documents. Mortgage documents are prepared by the mortgage company or the bank. At the closing, the documents are signed and the monies are disbursed.

 

After the Closing. After the closing, the signed documents are recorded with the Register of Deeds to give legal notice of the change of title. In any case, if you have any unresolved questions after the closing you should contact me.

This is what the uaw attorney sent.

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