Chalk One Up for Home Buyers

Some good news for home buyers on this blustery and very wet Tuesday. On Monday, Governor Schwarzenegger signed The Buyer's Choice Act. The new law allows the buyers of REO (bank-owned) properties to choose the title and escrow company. Under the old regime, banks were dictating that choice, with a "the door is that way if you don't agree"  attitude. The banks and asset managers can no longer force buyers to choose title and escrow companies of the bank's choice. And even better news, the law passed as an urgency measure by the Gov is effective immediately. It's been a tough enough market as it is, how nice to finely be able to give home buyers some old fashioned customer service.