Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 10 years ago,

User Stats

118
Posts
25
Votes
Sheri Ulm
  • Real Estate Investor
  • Norwalk, CA
25
Votes |
118
Posts

Title Company paperwork on land contract in Ohio

Sheri Ulm
  • Real Estate Investor
  • Norwalk, CA
Posted

Hello,
I am in the process of tryig to close on my first land contract and the title company is taking forever and a bit incompetent (I will NEVER use this comoany again). My question is: Being as it is a land contract and I will be making payments to the seller shouldn't I have recieved something in writing from the title company/lawyer stating what my payments are and when they start? In the original purchase contract there is an amount but it was an estimate because we did not know the exact amounts for insurances and taxes and the lawyer who wrote the land contract just copied the info from the purchase agreement word for word. In fact, he made a mistake and wrote the total amout (PITI) and the ADDED the taxes and insurance again thus showing a higher payment since T&I were accounted for twice. I was told when I signed to just cross that out and put in the correct amounts but that was 2 months ago and was still just based on the estimates. We now have the actual amounts so I need something that shows the change in amount to be paid and the new payment start date (was originally 7/1 but we have yet to close). I figured there would be some sort od ammendment or something as that is what we would do here in CA but not sure what Ohio laws are. When I asked title about this they didn't seem to know what I was talking about and they said they would check on it. Also, on the HUD 1, which I just received today, under lender it says "CASH"... shouldn't the sellers name be there as they are carring the financing? Or is it different with the land contract? I did receive a page that shows no prepayment penalty, no increase in interest rates etc.. in a series of check boxes but there is no actual loan/seller carry info. Any help here is apprieciated. This was supposed to be a 2-4 week close and as of today it is 3 months and counting.

Loading replies...