Investor Predators
I don’t think I have ever been so insulted, offended, and angry all at once! Granted, I had a rough day running between Title companies to close 4 deals in one afternoon…I just don’t think I provoked it.
North American Title has always been ‘fair’ to deal with before, but after today I will fight and go out of my way to avoid having to close a deal there ever again! My newest partner and I were buying a property from a wholesaler and we had all our paperwork lined up and ready to go.
…to make a looooong story short, the Title Lady had an issue with one partner signing the purchase paperwork and the other partner signing the loan paperwork. Both partners are members of the LLC and both signed a Statement of Authority, but she persisted in huffing and puffing about how “she” would never sign off on this. I politely (but frustrated-ly) said, “I don’t understand…please help me”. At that point, the OTHER Lady piped up and said…”I am the Fannie Mae representative and I am here to protect Fannie Mae from ‘Predator Investors’ like you from this kind of stuff”…”WE feel you keep pulling a bait and switch and this is where we end up!”
…at this point I was literally shaking, I was so angry! Still I kept my calm and asked the Title Lady who she was closing for (courtesy close). She sneared at me and said “Colorado Prestige”…”I don’t see how they could ever close on a deal like this, “I” never would”. (I’m thinking to myself at this point, who cares about your opinion and keep it to yourself!) Anyway, I proceeded to tell her and directed my snear towards the Fannie Mae rep that I just closed a deal identical to this transaction 2 weeks prior and didn’t have ANY issues. All the SOA’s were signed and everyone walked away happy. I guess the Title Lady got the hint and said she was going to go call Colorado Prestige and find out.
Two minutes later she walked back in and threw a piece of paper at my partner and demanded a signature so we could continue with the closing…mind you, she was still huffing and puffing about the whole thing. I couldn’t take it. I had to fake an incoming phone call so I could get up and leave the room. There was nothing but negativity and lack of professionalism from both the Title rep and the Fannie Mae rep.
It still boils my blood to share this with you via blog, but I have to tell someone! I really want to go back and give that lady a piece of my mind, but then I’m stooping to her level. What recourse do I have? I know that despite my best efforts I will have to close another deal with her. Do I want that kind of emotional charge to jeopardize a deal?
Sigh. Do you have any good advice for me? Thank you for listening to me vent, I needed to get it off my chest.
