I am editing an online, continuing ed class that is (among other places) being used in New York. To be sure I get the local customs right, can anyone tell me:
1. Are titles usually examined by attorneys (with title opinions) or title companies (with commitments to insure)?
2. Is title insurance usually ordered for a lender, or do lenders generally use an attorney’s opinion?
<?xml:namespace prefix = o /> 3. If title insurance is ordered for a lender, who orders it – lender or attorney?
4. If title insurance is ordered for a buyer, who orders it – lender, real estate agent or attorney?
5. Are Land Surveys by a Registered Land Surveyor usually required by an attorney or title co? Any idea of cost of Survey?
6. Do title companies usually substitute an Inspection / plat for a full survey? Any idea of cost of Plat?
7. How are closings usually transacted?
_____% closed by an Attorney
_____% closed by a title company?
_____% closed by independent closers/ escrow companies (i.e. Not related to an attorney or title co.)
I'd appreciate any help!
Best, Jeanne
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