Posted by Laura Miller on 12/8/09 11:43am
Msg #313483

Need a title company or Attorney office

Hello,
I just relocated to the Dallas, TX area, and I have had several calls from signing companies for cash out deals/Home Equity loans, that here in Texas, are required to be signed at a Title Company or Attorney's office. The signing companies want ME to find a Title Company or Attorney's office that will allow me to "borrow" a conference room for the signing (and the signing company is even willing to pay for it, if they charge me) The point is, they are not so worried about being paid to lend out their space, they are more concerned with me signing a deal that is NOT insured by them, and will not allow me to use their office for a signing! I have contacted 4 companies in my area, and get the same response from each. Any suggestions?????

Reply by A S Johnson on 12/8/09 1:50pm
Msg #313503

Laura,
The using of the conference room in an title/escrow co/att'y office is a "gray" area in Texas.
a)It is not so much they want the business, it is the laibiliy issue. Texas require a Home Equity Loan toe done in a location where "undue pressure" can not be put on the borrower to sign, thus a legal office.
b)If an att'y office is used the aat'y needs to be qualified in real estate, referred to as a "fee office".

The Texas State Bar wants an att'ys to handle "cash out", Home Equity, HELOC contracts and have issued several letters to att'ys in Texas to warn them of the issues involved.
Remember, most Title/Escrow offices have att'ys involved.

It seems if and when you can get known by an Att'y office, Title/Escrow office you will be able to get to use them (by the way I have a fee for finding an office built in to my fee for these).
If you can't find an office, let the hiring enity do it. They will do it and assign it to you as most offices charges $300 plus for this.