Legal Question in Real Estate Law in California

Re: who picks which escrow company to use over real estate sales?

Ask him to show you the law, and if he can't, ask his manager to show you the law. If they come up with something, I'd be interested in seeing it because I doubt it exists. Agents customarily choose the escrow and title companies, according to their favorites, but it's your money so you have the right to choose unless the listing agreement says something different.

Re: who picks which escrow company to use over real estate sales?

he's wrong but i don't know what your exclusive is other than you won't hire another broker wihich is quite proper and done in most transactions --- so if you wqant me to help you call me at 925-945-6000

Re: who picks which escrow company to use over real estate sales?

Practices differ from area to area in the state, but as far as I have ever heard, selection of an escrow holder is the client's prerogative, although many clients don't know one from another and therefore willingly accept their broker's first recommendation. It's remotely possible your listing agreement gave your agent or broker the exclusive right to select an escrow, so you might want to skim your agreement.

Re: who picks which escrow company to use over real estate sales?

There is no such law. The escrow agent is determined by agreement between the seller and the buyer. Many times when an agent lobbies for an escrow company, he or his company has an economic interest. Tell him you want to use your company, not his, and if he does not cooperate you will file a formal complaint with the California Real Estate Commissioner (the licensing agency for brokers and salesmen.

Re: who picks which escrow company to use over real estate sales?

He's wrong. It's your choice, unless, in the listing agreement you agreed to allow him to pick. Anyhow, this is a simple matter that can be handled by you. Just rescind that portion of the listing agreement. If he doesn't want to, then, fire him.

Re: who picks which escrow company to use over real estate sales?

Basically, whoever pays the fee for anything has the right to choose the company to use. (Maybe your agent wants to bay your share of the escrow fee).

Furthermore, the company that provides the title insurance (which is a larger expense than the escrow) not only must be chosen by who pays for the insurance, but if the person who pays is not allowed to chose (either by the agent making the decision or the other party insisting), the person who had the right to choose can sue and collect triple damages after the close of escrow.

Re: who picks which escrow company to use over real estate sales?

you should have the right to chose the escrow. Please contact our office for consultation and review of your documents.