First American Title, Chicago Land Branch...OPINIONS?
I've been talking with them about a possible relationship to do future business. I'm locking up a deal right now and they've kept pretty good communication.
I tried to negotiate some extras they could provide based on a post JefferyAdams wrote. According to them Fastweb isn't as good in Chicago as it is in California, they haven't decided on giving access or selling it, etc etc.
As for free title searches in the future if I commit to using them for insurance this time and in the future, they said title companies have more expense and locked up profits out in California. Therefore more room to negotiate of offer better things out there.
I asked about simultaneous closings, and they told me it's possible but there are so many problems with it...they prefer not to...but it's possible. The end buyer lender will see that I'm not on title and it will cause too many problems.
So, basically they are offering me...nothing. However, they've been friendly and kept good communication.
Have any of you Chicagoland investors had any experience with them? Good, bad? Should they be giving me more then they claim they can?
Thanks.
I've had one regular closing @ First AM in Gurnee. It was OK, they use their own underwriting as opposed to Chicago Title and Ticor, which use Fidelity. If you're going to do any "creative" stuff with title companies, First Am is definitely one of them, but they are a much smaller player in the Chicagoland as opposed to Ticor/Chicago Title/Stewart.
Now, all that said, you can "grease" up an individual title company employee with potential reward @ the closing, but that might only be efficient after you actually have the first one(without giving them money upfront). Title company employees could care less about whether you will bring business to the title company because they are not gonna get richer through that - the title company will. However, if you offer to bring all your closings to them AND give them a few hundred at each closing, it might work better.