Title trouble (unless we use sellers title company)

[Jerry Brecko]

Submitting an offer on a property in Philadelphia. It was under contract earlier this year and now relisted. The sellers agent said the deal fell through because they could not get clear title. He said the only way we can issue clear title is if the buyer uses the sellers title company. If we use our own title company it will take months to get title insurance.

What does this mean? Why can sellers title company give fast clear title and no one else can?

[Tom Gimer]

@Jerry Brecko This is so because the seller's title company created the issue and it's their mess to fix OR they previously insured over it so they are already on the hook.

If the title commitment had no unreasonable exceptions and the deal was winner for me, I would go with the seller's title company. I would also see it as a great opportunity to request a sizable discount on settlement fees.