Buyer Select Closing Agent
(BSCA)
Buyers can now choose who they will use as a closing agent (Title Company)
This is a great thing. Here’s why:
1)The buyers attorney will now be responsible for obtaining liens and requesting HUD to pay them off prior to closing.
2)The buyers attorney/title will be responsible for getting transfer stamp prior to closing.
3)The buyers attorney will need to file any/all extensions with asset managers.
What is your responsibility on a HUD deal? Turn in complete and correct contract package and go sell more homes!
On www.ChaseHomeStore.com you will find under tab “For Brokers” contract package. Make sure you are using these!
There is a tab “Title” – make sure you let attorney and title company know of this website. There are a number of documents and forms that will help speed up the closing process. (If you don’t let them know about this helpful site – it could delay closing)