Choosing a title company is a BIG deal. It’s right up there with deciding to jump out of plane, get a tattoo, or even swim with sharks.
OK, these comparisons might sound a bit extreme and absurd, but hear us out.
The point we’re trying to make is that you wouldn’t just let anybody make these serious decisions for you. At least we hope not!
Buying or selling property is a serious decision too. One that involves a lot of moving parts, and careful thought. And, an often overlooked part of this process is choosing a title company.
A common misconception about title companies is that your real estate agent or lender chooses one for you. But really, you should decide which company you want to work with.
A title company does all the heavy lifting when it comes to your property’s title. In short, a title company investigates the history of your property and reveals any hidden problems. Then, they issue insurance to protect you against the loss of your property should the title of your property ever come into question.
For example, your property may have changed hands several times before your purchase and sometime in the past there may have been an issue that did not present itself before. There could be unpaid real estate taxes or other liens against your property that’s not your responsibility.
Title insurance covers you from any legal claims and fees associated with your property purchase.
So, for obvious reasons, choosing a title company is a critical step in your buying/selling process.
But, how do you even begin to choose a title company? Well, let’s start with how NOT to.
DON’T use rock paper scissors to determine which company should look out for you.
DO ask trusted friends, family members and even your real estate agent or lender for recommendations. Then, thoroughly research the companies they suggest. Look for red flags like complaints, negative reviews or bad press. Find out about their years of experience, and ask about their title insurance rates and fees.
DON’T flip a coin to pick a title company.
DO base your decision on the integrity of the company. This industry handles a tremendous amount of money, so it’s important to work with a company you trust. Credible companies are open to discussing how they protect and safeguard their clients’ most important investment.
DON’T rely on the Eeny Meeny Miny Mo method when choosing a title company.
Do choose a title company who goes above and beyond for their clients. Pick a company that’s responsive, puts your needs first and follows through.
There you have it. A quick how-NOT-to. Get more advice about title insurance by poking around our website, calling us or just stopping in to say hi.