Blog Layout

DD Web • Mar 01, 2019

Shopping Around: The Right to Choose Your Own Title Insurance Company

For many of us, buying a home is the largest investment we will ever make during the course of our lifetime. It’s exciting! But, it’s also a high-stakes investment that can come with a lot of stressors. Homebuyers, however, can minimize much of the stress and anxiety that comes with purchasing a home by having a well-researched plan and choosing a knowledgeable, experienced team to help them along the way. Just like shopping for a realtor and a lender, did you know that you can shop around for a title company as well?

What does a title insurance company do?

The title insurance company is the neutral third party in your real estate transaction. The representative from your title and escrow company acts as a liaison between you and all of the other entities involved in your real estate transaction, including the seller, the lender and the broker/agent. A title insurance company also ensures that all titles, deeds and other important documents are filed in a timely manner and with the appropriate parties. The title company also acts as the ‘closing agent,’ which means they will collect and disburse funds that are a part of the transaction.

Do I need title insurance?

Yes. Title Insurance that covers the lender is required on all new mortgages. In other words, if you borrow money to buy a home, you must pay for title insurance. Title insurance protects both the homeowner and the lender from events that occurred before you took ownership including property loss or damage. Defects in the title could include liens that went undiscovered during the title search, mistakes on previous deeds, fraud and/or forgery.

Can I choose my own title insurance company?

Because many lenders and real estate agents have relationships with certain title companies, you may be highly encouraged to use the company they work with. While they may have good reason to recommend their title company of choice, you can — and should — do your own research before complying. As a homebuyer, you have the absolute right to advocate your own title company selection to guarantee your transaction goes smoothly and secure the adequate third party protection that you as a consumer deserve.

How do I choose a title insurance company?

The fact you are conducting due diligence in your search for a title insurance company is an important first step on the path towards a successful real estate closing. Working with a title insurance company that your lender or agent trusts may often be preferable, but you should not automatically assume that is always the best option. Local title companies may have lower fees than larger corporate title companies and often provide higher quality, personalized service. The title company will oversee the disbursement of funds at closing, so you want to select a company with a record of operating competently, honestly, and timely. Search out a title insurance company that provides a professional, timely closing experience and has a reputation of delivering an unparalleled level of service.

If you shop around for a closing agent, you can compare costs as well as determine their level of service. Talk with your lender and real estate agent about the possibility of choosing your own title insurance company if you want control over the fees you pay and the overall experience you’ll have. Work with a lender that will allow you to choose from the available title companies in the area in order to find the best option for you. They are, after all, protecting one of the largest and most important investments you’ll ever make!


By Stephanie Cline 29 Feb, 2024
February is not just about Valentine's Day chocolates and romantic gestures; it's also about spreading love and kindness to those who need it most. And boy, did we have an amazing time doing just that with our February Giveback! This month, we teamed up with the incredible For The Kids nonprofit to make a difference in the lives of children in our community. And let us tell you, it was a heartwarming experience from start to finish. First things first, our team rolled up their sleeves and dove straight into action. We spent a day volunteering, packing a whopping 100 meals to be delivered to those in need. The joy of knowing that these meals would bring smiles to the faces of children warmed our hearts in ways we can't even describe. But we didn't stop there! Oh no, we were just getting started. With our sleeves still rolled up and our spirits soaring, our very own Joe packed the truck with all those delicious deliveries for that Friday. The excitement was palpable as we imagined the happiness these meals would bring to families across our community. And guess what? Our amazing supporters rallied behind us in full force! Through their generosity, we collected over 100 additional items to donate to For The Kids. From canned goods to pantry staples, every single donation meant the world to us and to those we're helping. As we reflect on our February Giveback journey, we can't help but feel overwhelmingly grateful. Grateful for the opportunity to make a difference. Grateful for the support of our community. And most of all, grateful for the chance to spread love in every way we can. It's worth mentioning that our dedication to For The Kids goes way back – we supported their mission back in 2021, and we're committed to continuing this beautiful partnership for years to come. To everyone who volunteered, donated, or simply cheered us on from the sidelines – thank you. Thank you for believing in the power of kindness. Thank you for joining us on this incredible journey. Together, we're making the world a brighter, happier place, one meal and one smile at a time.
By Stephanie Cline 31 Jan, 2024
The curtains have risen, the confetti is in the air, and we are ecstatic to share the electrifying plans Novation Title has in store for 2024! This year's big reveal event was nothing short of a spectacle. Hosted on Zoom, it was a virtual fiesta with most of our incredible team. We kicked off the event with a bang, unveiling not just launches but also insights from a unique case study involving over 250 Agents. Picture this: a backstage pass to what the real estate game-changers need in 2023. It's a report that's about to revolutionize the way we navigate the real estate landscape. There were reminders of the tools that spark creativity at Novation Title – from ecording rooms to meditation rooms. We also shared all about Nova Connect, and an exclusive savings opportunity. A mic drop moment, unveiling our Referral Program, updated Diamond Partnership and Diamond Plus perks, and our Nova Show: Real Estate Records Podcast now with fresh episodes every week. As if that weren't enough, Novation Title is officially rocking the YouTube scene as of Season 3! The website got its moment in the spotlight as we went through its hidden treasures. Real Estate Pop Bys, the Title Rate Calculator – it's like a digital treasure hunt. And let's not forget the Nova Academy Calendar, our roadmap to success with all of our class schedules. Speaking of Nova Academy, we shared the excitement about upgraded classes tailored to your needs. Learning just got a whole lot more thrilling! We put the spotlight on Nova Stories – and how we have updated this experience to help you. Lights, camera, action! Novation Title's values – the Give Backs that have shaped our community. From Primary Children's Hospital to Sub for Santa, we've been making a difference for over six years. We are so excited for all of our upcoming community services. Novation Nation, are you as pumped as we are? The future is now, and we're ready to take 2024 by storm. Stay tuned for more updates, adventures, and game-changing moments from Novation Title. Here's to an extraordinary year ahead!
By Stephanie Cline 13 Oct, 2023
Ready to embark on a journey filled with excitement, inspiration, and invaluable insights? Nova Show: REAL Estate Records is your ticket to a world where the real estate industry's brightest stars share their stories, lessons, and the secrets of their success. In every episode, we turn up the volume on real estate triumphs. With episodes that are nothing short of a rollercoaster ride, Nova Show lets you in on the stories, lessons, and secrets of real estate's brightest stars. From Yarhtib Vazquez's mission to change the landscape for Utah's Latino community to our very own CEO Nuria Rivera's heartfelt gratitude to our clients and the birth of Novation, every story is a beacon of hope. Then, we dive into the vibrant real estate journey of Aaron Pehrson and Parry Dean Ward in a fun, easy-going, yet professional conversation. And Abril Burgoyne's transformation from a young mother in North Carolina to a passionate advocate for Utah's Hispanic community inspires us all. The power couple, Marcella Torrez and Josh Haley, dazzle us with their dynamic journey and unyielding dedication to their clients. Their path from California to Utah is a testament to the opportunities in the industry. And now, in our latest episode, Lisa Martinez shares her incredible path, amplifying her voice as a negotiation expert, military relocation pro, and luxury home marketing specialist. Nova Show: REAL Estate Records is the stage where these exceptional individuals amplify their voices, and it's the platform where you can hear their journeys and learn from their lessons. This show is all about fun, excitement, and hope. It's a celebration of the real estate industry's diverse voices, each one adding a unique note to the symphony of success. It's a reminder that your dreams, too, can find their voice in the world of real estate. Ready to be part of the real estate story? You can listen to the Nova Show: REAL Estate Records now! We are on Spotify, Apple Podcast, Amazon Music, Deezer and many othe platforms. Your success could be just one episode away! Listen here: https://blubrry.com/therealestaterecords/
More Posts
Share by: