Buying & Selling Real Estate
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated almost 3 years ago,
Suggestions on dealing with real estate closing
I am in a very strange situation and would love to get some suggestions from forum members.
This is my first time selling a commercial property in TX Coastal Bend. I was initially planning to use a local attorney & a separate closing company. On BiggerPockets - I found suggestion for a real estate attorney who also provided Title/Closing services. So I decided to engage with this attorney referred on BiggerPockets assuming if someone here referred, it must be legit. I asked them to draw contract, create deed/loan(seller finance) docs, title insurance. I was hoping this should go smooth as everything was done at same law firm.
My experience with this attorney and staff has been very frustrating. They have been incompetent and unprofessional. I had to do thorough review work of contract to ensure the contract was valid. And the title/closing agent really does no follow-ups.
We had some delays with closing due to the buyer not able to get insurance policies underwritten in time. I have been following up with attorney since last 4 weeks to complete the loan docs (this is seller financing deal), and prepare closing statement. Initially they were just not responding(beginning of year) - and now they keep telling me it will be ready "today" - its going on for 2 weeks and now it has gotten to be downright frustrating because we both buyer and seller have so many other things held up due to this unprofessional behavior. I have been calling their office everyday, emails etc. - they respond but its like the docs are coming...and they never come.
I then checked their BBB ratings(should have done that at beginning rather than relying on BiggerPockets recommendation) - and they are terrible with similar complaints. Their twitter account is suspended....
I understand things are bit busy in TX right now, but knowing these are pretty boilerplate docs - what else could be going on?
Anyone know if I can engage another attorney & closing company to continue with my life without being held hostage? We have standard TREC contract, and buyer has deposited EMD in escrow. Title commitment has been issued. No other fees have been paid.
I do not want to create more issues at this stage, but looks like I am being ignored. Not sure how to get them to follow-through on their agreed work.
Thanks