Owner Financing (help)

[Shea Spinelli]

We are finalizing our contract for a 12 unit deal that will be owner financed.  The seller wants us to split the title policy. We are putting 10% down and I've been told that it's not customary for the buyer to split the title policy when putting money down on an owner financed deal. Custom is when there is no money down, buyer/seller split the title policy. Does anyone have any experience with this?  Have you been asked to split the title policy as the buyer or have you, as the seller asked the buyer to split the policy?  I suppose in an owner finance deal, anything is possible. And in the short, we will probably not let a purchase go for the small cost of the title policy.