Residential Real Estate – My experience in residential real estate goes back to the summer between my second and third year of law school. That summer, I worked for three (3) title companies in New York City as a title closer. In those days, a title closer in New York City was responsible for every aspect of the closing transaction. There could be no errors on any document. If you want to know some “war stories,” ask me sometime.
My real estate experience then grew on the mortgage side of the transaction as I went to work right after law school for one of the three law firms in New York City that handled all of Citibank’s residential mortgage loans. Since I was the only member of the closing department with a law degree, I became the head of the department after three weeks. I was teaching my co-workers how to close a loan.
Two and-a-half years later, I moved to South Florida and I started the Law Office of Morrie I. Levine. I was handling real estate transactions from the role of an attorney looking out for the best interests of my client. One of my first transactions is still one of my most memorable. At the closing table in the title company’s office, I discovered a $10,000.00 error that actually was costing my client $20,000.00. The item was supposed to be a $10,000.00 credit for my client. Instead, the title company was giving the $10,000.00 credit to the other party. I knew that I was correct. Even my client kept questioning me if I was correct as everyone was arguing with me. Finally, the president of the title company let me speak to the president of the underwriting company in Chicago. He listened to my argument and after reviewing the documents, agreed with my position. Needless to say, I didn’t receive a very warm welcome the next time I went to that title company.
