I had to use my big-girl Designated Broker voice on Thursday. I ended up escalating my concerns to the branch manager of the title company. Under no circumstances should my sellers have signed without my knowledge or me reviewing their documents. Ever. And that goes for every client who walks into their office. Always.
Think of it this way: if you have food allergies and go to a restuarnt. Would you not inquire about every ingredient in the house special, just to make sure you don't suddenly die on the resturant's floor? I belive you would.
As an agent, that's what I do. I make sure every ingredient--or line item on the settlement statement--is accounted for.
Was there a promissory note slipped in at the last minute for an assessment that the seller did not know about? "It doesn't happen!" is the wrong answer. I have seen it happen. By the way, my seller did not owe the money. But had they signed and it had been recorded that way, it would have been a circus of hoops and paperwork to unsign!
What about a seller who has filed bankruptcy, but an unscrupulous creditor attaches a lien to their property. When the seller signs, they find out they aren't getting a huge check, but instead, they are "supposed to" pay a defaulted creditor. Don't laugh there. This is what a certain bank in West Georgia tried with me. Ask the US Bankruptcy Trustee how well that worked out for that bank.
Title companies don't know the history of the seller or buyer. They just know there are documents to put in front of our clients to sign. As agents, our job is to protect our clients. We have the history and the background. We look for those potential issues. We work with the title officer to make sure our clients are protected.
It is our job.
I ended up discussing with the branch manager that the purpose of my call was to create a teachable moment for her escrow officer, because that is what I wanted. Well, that, and I wanted to make sure my naive sellers got their equity without a hitch.
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