Should You Use Your Own Title Company?
New home buyers are often confused about what title company to use. We often see that they get advice from friends, family, and even the current seller as to which title company to use.
But the bottom line is it’s up to you. And, since you are paying for title insurance and closing costs, you should have the last word!
But the bottom line is it’s up to you. And, since you are paying for title insurance and closing costs, you should have the last word!
The Benefits of Choosing Your Own Title Company in Staunton, VA
There are four main benefits to choosing your own title company.
Potential Cost Savings
It’s true that title insurance rates are often regulated but the additional fees vary. By shopping around, you can find a company that best suits your needs. You may potentially be able to negotiate some fees.
That said, the best reason to shop around is to learn about the company’s reputation. Sometimes you may pay a little more, but the quality of the service you get will pay you back.
That said, the best reason to shop around is to learn about the company’s reputation. Sometimes you may pay a little more, but the quality of the service you get will pay you back.
Trust and Peace of Mind
And that brings us to trust and peace of mind. You want a company that keeps you updated and makes the closing process as smooth and stress-free as possible. If you have to constantly call to get a progress report, the dollars you saved may not be worth it.
Protecting Your Interests
At Lilly Title & Settlement, we handle crucial tasks like title searches, managing escrow accounts, resolving issues, and ensuring you have a smooth and secure legal transaction.
We take extreme precautions in handling money, making sure that your money is safe. That’s why we take extra measures to protect you and your money from wire fraud.
We establish a phone procedure, use encrypted emails, and verify by email that wire transfer instructions were received. We also verify the information and instructions before sending funds on your behalf
We take extreme precautions in handling money, making sure that your money is safe. That’s why we take extra measures to protect you and your money from wire fraud.
We establish a phone procedure, use encrypted emails, and verify by email that wire transfer instructions were received. We also verify the information and instructions before sending funds on your behalf
Avoiding Conflicts of Interests
By using your own title company for your closing instead of the seller’s preferred company avoids any possibility of a conflict of interest. This is especially true if the seller is also a real estate agent.
We do, however, recommend you listen to the recommendations of your real estate agent or lender. These professionals can offer valuable advice on the local market.
But are there times when you might use the seller’s title company? Yes!
We do, however, recommend you listen to the recommendations of your real estate agent or lender. These professionals can offer valuable advice on the local market.
But are there times when you might use the seller’s title company? Yes!
3 Scenarios When You Might Choose to Use the Seller’s Title Company
If the seller agrees to pay for your title insurance, they may have more leverage in choosing a closing company.
• If the seller’s title company is known to be very reputable and they offer a good deal, it may be more convenient to go with them. But again, use your own judgment!
• If the seller’s title company has worked with the property before, it could streamline the process.
Again, the bottom line is it’s your decision! There can be many variables at play. So, it’s best to keep an open mind but always make sure your interests are protected above all else.
You’re making the biggest purchase of your life. Pinching pennies on a crucial service that handles the legal details of closing on your home and helps protect you from possible unforeseen legal circumstances should be your first priority!
Lilly Title & Settlement is obsessed with legal details so that you can get into your new home quickly and smoothly as possible. Learn more about us here.
• If the seller’s title company is known to be very reputable and they offer a good deal, it may be more convenient to go with them. But again, use your own judgment!
• If the seller’s title company has worked with the property before, it could streamline the process.
Again, the bottom line is it’s your decision! There can be many variables at play. So, it’s best to keep an open mind but always make sure your interests are protected above all else.
You’re making the biggest purchase of your life. Pinching pennies on a crucial service that handles the legal details of closing on your home and helps protect you from possible unforeseen legal circumstances should be your first priority!
Lilly Title & Settlement is obsessed with legal details so that you can get into your new home quickly and smoothly as possible. Learn more about us here.
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