What should an Owner’s Authorization Form from a Title company look like and when should it be signed?
What other documents should be seen before signing the Owner’s Authorization Form?
@bob looks like a form authorizing the title company to transfer money (sale proceeds) on the owner’s behalf.
@retipsterseth Thank you for your reply. The parts about this form that bother me are:
- This is the only document we have received from Ticor Title.
- We have not received escrow instructions yet. So I don’t want to sign a form that authorizes the release of funds since it is not stated who they will be released to and how much they will get,
Shouldn’t I receive other documents from Tico Title?
When should I sign this document. They asked me to sign it now. - Also the part about disbursing funds including but NOT limited to and without further approval. Wouldn’t they be able to disburse funds to anyone and in any amount since nothing is shown on this document?
Sorry about so many questions but I do not know much about real estate. I am refinancing a home and this document concerns me. I have tried to find more information on this form on the internet but I have not found it. I have found other forms that show the information about who will receive funds and how much.
Thank you for your help.
Bob
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@bob sorry for my late reply here, I somehow missed this until now.
If I were in your shoes, I would get on the phone with this title company and ask all of these questions (they sound like valid concerns to me). It could just be a case of poor communication from the title company (which is actually very, very common, in my experience… a lot of these people will just assume you understand all of their industry lingo and everything happening behind the scenes, which is a ridiculous assumption).
If you call them and can’t get clear answers, it’s probably time to shop around for a different title company. Their job is to make your life easier, not add confusion to the process.
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