Hi everyone,
Need a little help: What questions should I ask a title company
and would I be better with a company
that is owned and opperated by a lawyer?Thanks and have a good day all. :-?
What is their title turn around time ?(should be 3-4 days maximum)
What are their fees for Closings, Title Insurance, Title Examination, Overnights, Post Closing, Tax Search, Endorsements, Title Binders?
(are there any Im missing and some fees (title insurance) will be based on the loan/owners policy)
How many of their clients are real estate investors?
(Find one that is familiar with Land Trusts, wraps & s2's)
As far as one run by an attorney, In Georgia its a requirement so I dont know a lot about those run without one. Personally I couldn't imagine closing without one, but I think the key to a fit is personality...
I'm getting in on this one late, but since your in Florida it might be good to know that title insurance premiums are set by the State so they will (or should) be the same anywhere you go. Some of the other fees might vary a bit from company to company. In my experience Attorney Title Co's charge more for the same work just because they are Attorney's with no real added benefit on most transactions. With all that in mind, besides turn times Customer Service is the big difference between companies. ie. Will they help you clear conditions if they come up? Will they close on evenings or weekends if need be? Can they do travel closings ? Are they helpful with complicated investor transactions? and are they responsive to calls and emails etc.
It stinks to be worried about a transaction that you've worked hard on and not get any feed back about the status of things..
In Fl title insurance is $100 up to $17,000 transaction. I have found a regular title firm to be better than lawyer owned. I recently bought some property and at the closing they said the lawyer had looked over the papers and that the probated will had to be reprobated in Florida. I thought that was not necessarily so so I went to another firm where it was not needed. Saved me $1500 going to a title firm instead of a lawyer
Hi Everyone,
Firs I want to thank everyone
who responded to this post.You know
when I l/lorded I nver had to deal with
these www.issues.I did talk to a lawer/owned
title comp.Had a good www.conv.NO COST::
He agreed to do workfor me.But I take
your advise and talk to a none lawer
owned.Hope everyone had a good wk
If not(HAVE A GOOD DAY).
Best advice you've got is to talk to several title co's, and also some other REIs to get their comments and referrals, BEFORE hiring one...in my experience, all too many of them will promise anything before they're hired, but then, strangely (!) don't even return phone calls afterwards.
questions for a title company:
What is their title turn around time ?(should be 3-4 days maximum)
What are their fees for Closings, Title Insurance, Title Examination, Overnights, Post Closing, Tax Search, Endorsements, Title Binders?
(are there any Im missing and some fees (title insurance) will be based on the loan/owners policy)
How many of their clients are real estate investors?
(Find one that is familiar with Land Trusts, wraps & s2's)
As far as one run by an attorney, In Georgia its a requirement so I dont know a lot about those run without one. Personally I couldn't imagine closing without one, but I think the key to a fit is personality...
GL
hi and thanks razzio for your reply I will
take that with to the title comoany.Have
a good day. 8-)
Joseph44,
I'm getting in on this one late, but since your in Florida it might be good to know that title insurance premiums are set by the State so they will (or should) be the same anywhere you go. Some of the other fees might vary a bit from company to company. In my experience Attorney Title Co's charge more for the same work just because they are Attorney's with no real added benefit on most transactions. With all that in mind, besides turn times Customer Service is the big difference between companies. ie. Will they help you clear conditions if they come up? Will they close on evenings or weekends if need be? Can they do travel closings ? Are they helpful with complicated investor transactions? and are they responsive to calls and emails etc.
It stinks to be worried about a transaction that you've worked hard on and not get any feed back about the status of things..
Anyway thats my 2 cents.
Good luck
In Fl title insurance is $100 up to $17,000 transaction. I have found a regular title firm to be better than lawyer owned. I recently bought some property and at the closing they said the lawyer had looked over the papers and that the probated will had to be reprobated in Florida. I thought that was not necessarily so so I went to another firm where it was not needed. Saved me $1500 going to a title firm instead of a lawyer
Hi Everyone,
Firs I want to thank everyone
who responded to this post.You know
when I l/lorded I nver had to deal with
these www.issues.I did talk to a lawer/owned
title comp.Had a good www.conv.NO COST::
He agreed to do workfor me.But I take
your advise and talk to a none lawer
owned.Hope everyone had a good wk
If not(HAVE A GOOD DAY).
Best advice you've got is to talk to several title co's, and also some other REIs to get their comments and referrals, BEFORE hiring one...in my experience, all too many of them will promise anything before they're hired, but then, strangely (!) don't even return phone calls afterwards.