You’ve found your new home and you’ve negotiated a price with the owners. How do the two of you actually go through the transaction?
That’s where the title company comes into the picture. The title company performs all the necessary services to get ownership transferred from a seller to a buyer, legally and with plenty of financial protections.
But, you should know that not all title companies are exactly the same. Expect to get different services, different policies, and sometimes different prices depending on who you choose. That is, if you’re the one who chooses the title company in the first place.
Who Chooses a Title Company?
While there are lots of exceptions depending on where you live, the buyer chooses the title company in most regions of the United States. Your Realtor will definitely be aware of the local laws and conventions, so be sure to consult them if you’re uncertain about how to proceed. In most cases, they’ll be ahead of you on arranging the matter anyway.
Shopping for Title Services
As mentioned above, you might want to start your search for a reputable title company with your Realtor. They’ll probably have preferences based on their existing experience working in the industry. Beyond that, you can ask friends and family for suggestions. If someone you know recently bought a house, then they’ll likely have something to say about the quality of service they received.
It’s worth noting that there’s sometimes affiliation between real estate brokerages and title companies. It’s a reasonable arrangement since their services go hand in hand, but be aware that you don’t have any special obligation to use your Realtor’s affiliated title company. You can make your own choices regarding title services.
While some fees are going to be the same regardless of who performs your title services, not all are. The premiums associated with title insurance are set by underwriters and regulated by the state, but fees for additional services provided by the title company can vary. For instance, title companies tend to set their own rates for title searches, document preparation, and other closing services.
You can always get a quote from the title companies you’re interested in working with and do price comparisons before you make your decision. Keep in mind that you don’t necessarily always want the cheapest option though. Quality of service is what matters most!
Shopping for Your Title Services?
If you’re in the market for your own title services, consider Heights Title. We’ll put our experience and professional experts to work securing your title and getting you and your family into your new home. Choose Heights Title for your title services.
This material is provided as a courtesy and for educational purposes only. Please consult your title professional for specific information regarding your situation.