auction.com/Linear Title

[JP Smith]

Just purchased a property from auction.com for 14,500.  I was assuming that the title company required to use would have a reasonable fee.  In my area, $400 total closing cost, which includes search, and 175 title insurance is the norm.

Linear Title, as required by auction.com, is charging $1,776.50.

I am pretty stunned.  I didn't even think it was legal to charge that much.

So, for any investor using auction.com for the first time, BEWARE of the closing costs.

And for anyone who has bought from them, is there any way to negotiate or use my own title company?

[JP Smith]

You do have the option to choose an ADDITIONAL closing company, but you still MUST pay all of their fees.  So basically you will pay 2 sets of closing costs.