Q: I’m a first-time homebuyer in Virginia getting ready to begin the house hunt. Does the seller pick a title company or can I?
A: That’s a great question. In Virginia, the purchaser can choose any title company or real estate attorney to handle their side of the closing. RESPA, the Real Estate Settlement Procedures Act, is a federal law that prohibits a seller from requiring a buyer to purchase title insurance from any particular title company. A purchaser can designate his or her own closing agent from either a title company or attorney. At the same time, a seller can elect a different attorney to handle their side of the transaction if they choose. This is often referred to as a split closing.