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Updated over 6 years ago on . Most recent reply

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Jim Bailey
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6
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Wants to see title commitment before making offer???

Jim Bailey
Posted

I'm kind of new to commercial deals....

I contacted a commercial real estate developer and he wants to see a survey and a title commitment in order to consider the land that I'm selling...

Is this common?  Can I get a title company to open title and get this done before there is a contract? I have a title company I'm working with, but I'm not sure if they're willing to do this... should they be willing to do this?

Thanks!

Most Popular Reply

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397
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215
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Ethan G.
  • Attorney
  • Katy, TX
215
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397
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Ethan G.
  • Attorney
  • Katy, TX
Replied

Title commitment for a commercial deal will cost the title company a fair chunk of change.  Cheaper to get a title abstract and existing survey (or the existing title commitment and survey) and just tell buyer that there have been no changes since then (if that is actually true).

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