Tuesday, March 24, 2015

What is a Neutral Third Party?

The escrow officer / title agent and / or the title company are considered a "neutral third party". Independent of buyer and seller and respective agents as well as the Lender.

Simply put, as an example;  if you ask the question "Is this a good deal or am I getting taken to the cleaners by someone?", the title company and / or any of its employees cannot comment or make any reccomendations to you or anyone one way or another in regard to loan quality, commissions, purchase agreements or weather or not your getting a fair price for the property either as the buyer or seller.

We (the neutral third party) would encourage you to consult legal counsel if you have such questions on this topic prior to signing any legal or binding contract.