Real estate agents work with buyers and sellers who, often, are not overly familiar with the process. After all, property transactions are not an everyday event for most people. This means that they rely heavily on their real estate agent for guidance and direction when it comes to working with a title company. The biggest question?
Which title company should we use?
One quick online search and it is easy to see that there are many different title companies to choose from. Without knowing what to look for, it can be tough to know which one you should work with — and which one you should avoid.
Here is what a real estate agent wants to know about a title company.
Are They Conveniently Located?
Title companies can be in a local area or they can be in a different state and offer nationwide service. Many real estate agents look for those that offer convenient locations.
Local title companies usually offer a more personalized experience. Not only can buyers and sellers have direct contact with their title agents, but they can also handle the closing right in their office if preferred.
What’s more, local title companies tend to be more familiar with local and state laws and regulations should any issues arise throughout the process.
What is Their Level of Expertise?
Real estate transactions can get tricky. Some can be complex, requiring guidance from an attorney before proceeding. Since the idea is to get the file successfully through the closing, will the chosen title company be able to make it happen?
Realtors pay attention to a title company's level of expertise. How long have they been in business? What is their reputation within the real estate community? Do they have access to an attorney in-house?
What Services are Offered?
Real estate agents may be fantastic at linking sellers and buyers, but the title searches, document preparation for closing, and handling of escrow are usually left up to others.
To simplify the process, it can be beneficial to have a title company that offers both title services and settlement services. In other words, having an experienced team that will take the buyer from the initial contract all the way through a successful settlement is highly beneficial and something a realtor often seeks.
How Much are the Title-Related Fees?
While title insurance costs are usually regulated by the state or a governing body (though this can vary from state to state), other title-related fees are not. This includes the title search fee, settlement agent fee, title & escrow company fee, and so forth.
Real estate agents know that closing costs can really build up and too many may even halt a transaction from proceeding. This is why many will check out the fees charged by title companies in advance so that they may offer their clients the best option.
In the quest for the right title agency, realtors know that you often get what you pay for. Surely not always the case, but going with the lowest-priced title company may not get your real estate transaction the attention it deserves.
Real estate agents look for a transparent title company that provides a high level of service for just the right price.
Buchanan Settlement Services Checks All the Boxes
At Buchanan Settlement Services, we offer title insurance, attorney certifications, residential and commercial closings, title searches, and document preparation. We have in-house counsel and transparent fees. Real estate agents within our community know that we are highly efficient and sure to close.
Want to learn more? Contact us today at (717) 762-1415.