Here is what I experienced at a closing yesterday:
There was even one company a few years ago, Greco Title, who wanted the purchaser to indemnify the title company against legal action brought against them buy the seller or others.
We feel this is both crazy and offensive.
The title company should not be re-negotiating the contracts between the buyer and the real estate companies at closing. Most buyers are not prepared to argue these items and it is totally inappropriate for them to have to.
If you as a buyer refuse to sign these inappropriate documents the title company will back down. They have no right to force you to sign that.
“Purchasers hereby relsease the real estate broker and their agents from any claim whatsoever wtih regard to the condition of the herein described premises.”
This issue should have been covered in the purchase contract form or the contract between the real estate broker and the buyer. It has no business showing up at closing mixed in with the dozens of legitimate documents a buyer needs to sign.