OfflineA good title company can make your life easier.
I have a lot of respect for title companies. I have found them to be very reliable through the years. They do a great job of getting the papers ready for closing and getting needed research done. The requirements for a title company are very strict in most states. Because of that there are very few errors committed by title companies.
Most title companies will not rush a deal just to make people happy. They know and understand the need to get things right. Remember this the next time someone blames the title company. Remember, they are simply protecting all involved.
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Roy Voeks
Official RE Coach
I agree Roy. While I am still working toward my first deal, I have a title company on my team that is actually sending me information on properties that fail to close.
I know I am fortunate to have her on my team.
Lisa
I agree with you. I a great question for you coach assume I have a deal right now and I called up a title company to do the pre-tile search, am I suppose to pay for pre-title search?
Title companies are great. I have been researching on title companies in Miami or close to me in Miami that does Dry closing so I can avoid transactional funding.
Thanks for sharing
Goodluck in your investing
TC
Miami Florida
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Title companies can be wonderful resources! The one I had in California even gave me my own password for their system where I could pull comps, property histories and much more.
When you find a good one, set up an appointment to go in and establish a one on one relationship with your representative. Ask them if they have farming tools for you to use. I got my cash buyers list and non owner occupied lists from mine AND they even printed me FREE mailing labels!
They can be absolute gold!
Karen
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TC, thanks for raising the questions about whether there is a cost for a Preliminary title report. I do not believe there are any hard rules on this. Some title companies charge, while others may not. Procedures tend to become common or standard for an area.
Title companies (or Escrow Companies, as they are called in some areas) will be more likely NOT to charge if:
1) You are an established regular customer bringing in regular business to their company;
2) You are requesting the Preliminary Title Report in conjunction with a closing where there will be a Title Commitment and issuance of Title Insurance Policy(ies).
In selecting a title company that you want to work with, one of the questions you can ask is whether they have a charge for a Preliminary Title Report.
I called my title company less than a week ago requesting a Preliminary Title Report, the agent I spoke with recognized my name, pulled the report while I was on the phone, and simply asked whether I wanted it emailed to me or wanted to come in and pick it up. No mention was made of a fee, and I had the information in less than 5 minutes. Bottom line, it is good to build relationships in this business. And I highly recommend that if companies are doing things for you consistently for no charge, that you take a fruit basket or some other basket of goodies to their office periodically for them to share around. Take good care of others, and they will take good care of you.
Dallin Wall
Real Estate Training Team
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I love my title companies, they do so much for me. TC if you have a realtor you are working with on your deals have your realtor call the title company you are using and ask him to order a preliminary title report, because they do them for free for realtors all the time. Also if they know you are going to close with them and work with them directly ask for the preliminary title report, most of the times it is free, the most I have heard of anyone being charged is $100.
Hope this helps, happy investing.
Good Luck,
Shah Ali