Confused About Which Title Insurance Agency To Hire? Here's What You Need To Know
If you're buying a property, first and foremost understand that YOU have the authority to choose the title insurance agency. If you're confused by which agency to choose, here's what you need to know and which questions to ask.
The Role Of A Title Insurance Agency
The title agent will facilitate the real estate closing and make sure all paperwork is in order for the closing to happen on time. In many cases, buyers or sellers will simply use the title agency recommended by their realtor or mortgage lender or even friends. Chances are, these are reputable agencies and will work out just fine.
Choosing the right title insurance agency to handle your closing can mean the difference between a simple and smooth closing process or a complicated and delayed one. You should be completely comfortable with the title agency used for your closing. If you are not sure it is the right agency for you, you can, and should, shop around for an agency more to your liking.
But what should you look for when researching title agencies?
Things To Ask When Researching A Title Insurance Agency
• Is the agency licensed in the state in which you are purchasing the property?
• How long has the agency been in business? Do they have a stable business history?
• Is it a local agency or one familiar with the area in which you are buying? What is their local reputation?
• How easy is it to get in touch with your title agent?
• Is the agency staff approachable? You should be comfortable with the agent and he or she should be willing to answer your questions and ease your concerns.
• Do they provide in-house escrow services?
• Is there a notary public on staff?
• Is the agency a member of the state title association or the American Land Title Association (ALTA)?
Benefits Of In-House Services
Generally, the more services your title agent offers, the better. You want a title agent who is knowledgeable and experienced, but it is also helpful if the agency can handle escrow duties and if they have a notary public on staff. Both escrow duties and notary duties have an important role in a real estate closing.
Having an escrow agent and a notary in-house will simplify your responsibilities and the closing process in general. Without these functions in house, you are left to coordinate the services between the title agent, escrow agency and make sure a notary public attends your closing. It will save you time and money to hire a title agency with all of these services under one roof to handle your closing.
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ABOUT THE AUTHOR
Title Junction, a Cape Coral title insurance agency, serves clients throughout Florida and Fort Myers. Notary, escrow and witness courtesy closing services are also offered by this Cape Coral notary agency.