This bill prohibits a seller of residential property from requiring or influencing the buyer to use an escrow service company or purchase title insurance chosen by the seller and would also prohibit a seller of residential property from, without good cause, disapproving the use of a title or escrow company chosen by a buyer.
Future homebuyers take note, this is really good news indeed! We no longer have to go with the bank sellers out of area, over priced, under serviced, no name title company!
I love the nickname of the bill.
The reason why this is called "the crab feed napkin bill" is:
Assemblywoman Galgiani was alerted to the problem by realtors and mortgage industry professionals in the Central Valley. In early January she wrote out the first version of the bill on a napkin while talking with local realtor, Andy Krotik, at the Atwater Chamber of Commerce Annual Crab Feed in her district.
So the hero of the day is local assembly Member Cathleen Galgiani, who trully wrote a bill which will help the people! I am glad she can eat crab and write bills that help people at the same time, that is awsome!
