Shar NJ 1 Report post Posted August 9, 2014 Hello All, So far I have done 6 successful CA transactions, all with financially responsible sellers. In reviewing my business, I am wondering if I should recommend to the buyers to cloud the title with a Memorandum of Option as in the circumstance that I come upon a seller of lesser integrity/financial responsibility, we won't have a problem with other liens on the property by the time closing comes around. Any recommendations on this? Thank you, Sharyn Share this post Link to post Share on other sites
Shar NJ 1 Report post Posted August 9, 2014 Also, regarding protecting everyone involved in a CA, does anyone do a title search? Thank you, Sharyn Share this post Link to post Share on other sites
MichaelC 160 Report post Posted August 9, 2014 Hi, Sharyn. Personally I don't offer that suggestion because I want to be as neutral in the deal as possible, and not give either party the opportunity to think or say I was representing someone in the deal other than myself. Perhaps I'm a bit paranoid. That said, if you want to you certainly can as a gesture of honesty, integrity, and customer service. Although, I think that if a homeowner made me feel early on that he/she was less than honest, I would think twice about doing business with them in the first place.Regarding a title search, again, I try and keep my distance when doing a CA and so a title search is the responsibility of the t/b, in my opinion. If asked, I'd say it was a good idea, however, for both the Memorandum and a title search. Share this post Link to post Share on other sites