You may choose a title company other than the HUD contractor. But there are good reasons to use HUD’s Closing Agent (CA) that you might want to consider. HUD has pre-arranged for its CA to research the title, draw the deed, the HUD-1 Settlement Statement, and other documents, and has already paid for these services. This will save the Buyers some costs.
Scheduling third party closings also involves additional timing arrangements for the closing appointment that might prove challenging. Delays are especially difficult and frequent during the busy days at the end of the month when you are making certain to close before your contract expires to avoid the necessity of an extension request and fee.
Tuesday, May 26, 2009
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