Who Picks the Real Estate Closing Attorney in Birmingham AL?

Collier Swecker video blogs about how most real estate agents in Birmingham AL still do not understand who the closing attorney represents at a home closing and who selects the closing attorney. As a former real estate Attorney, I can tell you that Birmingham is one of the ONLY areas in the State of Alabama where Sellers or their Agents even think that they can select the Closing Attorney. Simply put, the Closing Attorney represents the Lender and ultimately they have final say over where a closing occurs. In Birmingham, the only reason that Real Estate Agents have a choice in the closing attorney is because the lenders are allowing the parties to select the attorney as a courtesy. It is a long held belief by many, if not most, Realtors in Birmingham that the Seller and their Agent select the closing attorney. This thought is unfounded in the law there are no RESPA Federal regulations that default to the Seller selecting the Attorney. If you think about the fact that the closing attorney is representing the Lender, the party with the closest connection and a direct business relationship with the Lender, is the Buyer. Therefore the Buyer, in consultation with their Lender is the party in the best position to select the Closing Attorney. Remember that both the Buyer and Seller may each be represented by legal counsel of their choosing at the closing, independent of the actual Closing Attorney, at their own cost. Realtors need to remember that Section 9 of RESPA prohibits a Seller from requiring the home buyer to us a particular title insurance company, directly or indirectly as a condition of Sale, and the buyer may sue a Seller who violates this provision for an amount equal to 3 times all charges made for the title insurance. If you have any comments or questions about selecting Closing Attorneys in Birmingham Alabama, email me at Collier@MegaAgentRealEstate.com or visit my website at www.MegaAgentRealEstate.com.

Category:

People & Blogs

Tags:

• Birmingham
• AL
• Alabama
• RealtySouth
• Closing Attorney
• Title Company
• Title Agency
• Closing Costs
• Home Loan Closing
• Real Estate
• For Sale
• Collier Swecker
• Realtor
• Agent
• RESPA

[TreyHorton]

This is the absolute truth. There is the good ol' boy way of doing things in Birmingham and it's been that way for years. It's time these realtors get compliant just like everyone else is having to.

[HomeInspectionBham]

Good information Collier, something I didn't realize. Thanks for sharing.