[kingofbeer]

Should I use Peninsula Land & Title for closing or pick my own?

[retiredguy123]

Originally Posted by kingofbeer

Reading The Villages sales contract, I see Settlement Service as 5% of purchase price. This seems way out of range. Normally you pay a reasonable fee for closing (less than $500) because the they make money on the title insurance they sell. Contract says you are NOT required to use the listed provider. I have contacted the title company that handled the closing on my last house and am waiting to hear back from them. Am I required to use Properties of the Villages, Inc for closing?

I assume you are buying a new house? If so, they didn't charge me anything, but that was 6 years ago.

It sounds like you answered your own question. "You are not required to use the listed provider". But, 5 percent sounds outrageous.

[kingofbeer]

I got confused. 5% is the sales commission pct.

[Stu from NYC]

Does that mean settlement company did not charge you anything?

[kingofbeer]

Have not closed yet.They do charge a closing fee. Which is standard practice.

[retiredguy123]

Originally Posted by Stu from NYC

Does that mean settlement company did not charge you anything?

I bought a new house from The Villages and paid cash. They didn't charge me any fees. The only thing I paid at the closing were the prorated property taxes and amenity fees that I would have had to pay anyway if they hadn't already paid them in advance. But, The Villages didn't charge me anything to handle the settlement or deed preparation or transfer.

[retiredguy123]

Originally Posted by kingofbeer

Have not closed yet.They do charge a closing fee. Which is standard practice.

If you buy a new house from The Villages and pay cash, they shouldn't charge you any closing fees.

[Villages Kahuna]

I believe you’ll find that Peninsular Land & Title is owned by the Developer. They’re integrated into the closing process, making it ‘one stop shopping’ to close on a new house. You have the right to choose your own title company for closing, but you’ll likely make the process more time-consuming and expensive.

Remember the well-proven phrase regarding the closing process… If it ain’t broke, don’t fix it.

[hamsterfay]

Originally Posted by kingofbeer

Should I use Peninsula Land & Title for closing or pick my own?

Pick your own, it's cheaper.

[Stu from NYC]

Originally Posted by Villages Kahuna

I believe you’ll find that Peninsular Land & Title is owned by the Developer. They’re integrated into the closing process, making it ‘one stop shopping’ to close on a new house. You have the right to choose your own title company for closing, but you’ll likely make the process more time-consuming and expensive.

Remember the well-proven phrase regarding the closing process… If it ain’t broke, don’t fix it.

They sure were smart enough to keep their fingers in all the pies

[PugMom]

Originally Posted by retiredguy123

I bought a new house from The Villages and paid cash. They didn't charge me any fees. The only thing I paid at the closing were the prorated property taxes and amenity fees that I would have had to pay anyway if they hadn't already paid them in advance. But, The Villages didn't charge me anything to handle the settlement or deed preparation or transfer.

dittos, we did cash also, & had very little 'fees' to contend with

[Mystwarien]

We used the Villages Title company. Just made everything super easy. Did a mail away close (we signed everything in another state) and then my husband just showed up on closing day for the walkthrough and to pick up keys. It was super painless.

[Bonanza]

Originally Posted by kingofbeer

Should I use Peninsula Land & Title for closing or pick my own?

Years ago the Villages go-to closing agent was McLin & Burnsed. Obviously, they have made changes.

Make a few phone calls to see who will give you the best deal for closing.

[MSchad]

Also make sure if you choose another company that they can close in the allotted time frame. We had 30 days. Peninsular Land & Title has the process down to an art.

[ThomasMur]

Just like your nose. Pick your own.