Marks of a Good Title Company<\/strong><\/h3>\n\n\n\n![\"\"](\"https:\/\/www.ratifiedtitle.com\/wp-content\/uploads\/2020\/08\/RatifiedTitleGroup-What-Buyers-Need-in-a-Title-Company-August2020-Blog2-Pic1-1024x683.jpg\")
<\/figure><\/div>\n\n\nIt\u2019s important to know what makes an exceptional title company. A good title company:<\/p>\n\n\n\n
\n- Is paper-free<\/strong> \u2013 If your title company is paper-free, there is no risk of them losing your documents or not being able to find important information. Being paper-free makes it easier for the company to keep records of customers, lenders, and transactions in a secure place.<\/li>\n\n\n\n
- Makes signing documents easy<\/strong> \u2013 If your title company is paper-free, they probably use E-signing, which prevents you from having to sign your name an endless amount of times. It\u2019s also good for the environment.<\/li>\n\n\n\n
- Has excellent customer service<\/strong> \u2013 Good customer service seems to be getting rarer and rarer, but a worthwhile title company will still put the customer first. They will communicate with you all along the way and ensure that you have a positive closing experience.<\/li>\n\n\n\n
- Delivers forms on time<\/strong> \u2013 Delivering forms between seller, buyer, real estate agent, underwriter, lender and title insurance agent can be complicated since each of these players is running on their own schedule, but a good title insurance company will deliver them to the right place at the right time.<\/li>\n\n\n\n
- Offers digital closing solutions<\/strong> \u2013 A title company that uses digital technology will give you a smoother closing process. It will also be able to process transactions faster.<\/li>\n\n\n\n
- Has a secure escrow transfer process<\/strong> \u2013 Every title insurance company needs a secure escrow transfer process to transfer the borrowed money from the lender to the seller in a timely manner.<\/li>\n\n\n\n
- Has a quick underwriting process<\/strong> \u2013 Ideally, your title company will possess years of collective experience in real estate law and mortgage lending that will make the underwriting process<\/a> go quickly.<\/li>\n\n\n\n
- Keeps good records and can recall them easily<\/strong> \u2013 A good title insurance company keeps detailed records of your transactions and can recall them easily should an issue arise with your title years later.<\/li>\n\n\n\n
- Defends title disputes<\/strong> \u2013 Should there be any claims against your title insurance policy, you want a title company with title insurance experts who can handle legal real estate issues adeptly.<\/li>\n\n\n\n
- Complies with regulations<\/strong> \u2013 Most importantly, you want a title insurance company that complies with Consumer Financial Protection Bureau (CFPB)<\/a> regulations.<\/li>\n<\/ul>\n\n\n\n
Additional Things to Look for in a Title Company<\/strong><\/h3>\n\n\n\n![\"\"](\"https:\/\/www.ratifiedtitle.com\/wp-content\/uploads\/2020\/08\/RatifiedTitleGroup-What-Buyers-Need-in-a-Title-Company-August2020-Blog2-Pic2-1024x1024.jpg\")
<\/figure><\/div>\n\n\nIn addition to the traits above, these are other things you should look for in a title company:<\/p>\n\n\n\n
\n- Reputation and history<\/strong> \u2013 To begin with, you\u2019ll want to visit your title company\u2019s website. You\u2019ll also want to do a little research with the Better Business Bureau to find out if any complaints have been filed against the company. Ask how long the company has been in business and whether they have a reputation of professionalism and competency.<\/li>\n\n\n\n
- Ability to accommodate the customer<\/strong> \u2013 If the buyer and seller are in different locations, you\u2019ll want to make sure the title company can accommodate the closing. That might mean closing has to be done by mail, and you\u2019ll want to make sure the title company can do that.<\/li>\n\n\n\n
- Professionalism and competency<\/strong> \u2013 One thing to consider here is the atmosphere in the office. Is it relaxed or harried? Other questions to ask yourself are: Is the office organized? Do the employees dress and act professionally? How much experience do the company\u2019s closing agents and title examiners have?<\/li>\n\n\n\n
- Legal support<\/strong> \u2013 Consider whether the company has in-house attorneys well-versed in real estate legal issues.<\/li>\n\n\n\n
- Professional membership<\/strong> \u2013 Can your title company handle a 1031 exchange, email closing documents, issue a title policy at the closing table or handle construction disbursements? Is the company using the latest technology? Is it a member of the American Land Title Association (ALTA)<\/a>?<\/li>\n<\/ul>\n\n\n\n
<\/figure><\/div>\n\n\nIt\u2019s important to know what makes an exceptional title company. A good title company:<\/p>\n\n\n\n
- \n
- Is paper-free<\/strong> \u2013 If your title company is paper-free, there is no risk of them losing your documents or not being able to find important information. Being paper-free makes it easier for the company to keep records of customers, lenders, and transactions in a secure place.<\/li>\n\n\n\n
- Makes signing documents easy<\/strong> \u2013 If your title company is paper-free, they probably use E-signing, which prevents you from having to sign your name an endless amount of times. It\u2019s also good for the environment.<\/li>\n\n\n\n
- Has excellent customer service<\/strong> \u2013 Good customer service seems to be getting rarer and rarer, but a worthwhile title company will still put the customer first. They will communicate with you all along the way and ensure that you have a positive closing experience.<\/li>\n\n\n\n
- Delivers forms on time<\/strong> \u2013 Delivering forms between seller, buyer, real estate agent, underwriter, lender and title insurance agent can be complicated since each of these players is running on their own schedule, but a good title insurance company will deliver them to the right place at the right time.<\/li>\n\n\n\n
- Offers digital closing solutions<\/strong> \u2013 A title company that uses digital technology will give you a smoother closing process. It will also be able to process transactions faster.<\/li>\n\n\n\n
- Has a secure escrow transfer process<\/strong> \u2013 Every title insurance company needs a secure escrow transfer process to transfer the borrowed money from the lender to the seller in a timely manner.<\/li>\n\n\n\n
- Has a quick underwriting process<\/strong> \u2013 Ideally, your title company will possess years of collective experience in real estate law and mortgage lending that will make the underwriting process<\/a> go quickly.<\/li>\n\n\n\n
- Keeps good records and can recall them easily<\/strong> \u2013 A good title insurance company keeps detailed records of your transactions and can recall them easily should an issue arise with your title years later.<\/li>\n\n\n\n
- Defends title disputes<\/strong> \u2013 Should there be any claims against your title insurance policy, you want a title company with title insurance experts who can handle legal real estate issues adeptly.<\/li>\n\n\n\n
- Complies with regulations<\/strong> \u2013 Most importantly, you want a title insurance company that complies with Consumer Financial Protection Bureau (CFPB)<\/a> regulations.<\/li>\n<\/ul>\n\n\n\n
Additional Things to Look for in a Title Company<\/strong><\/h3>\n\n\n
\n<\/figure><\/div>\n\n\nIn addition to the traits above, these are other things you should look for in a title company:<\/p>\n\n\n\n
- \n
- Reputation and history<\/strong> \u2013 To begin with, you\u2019ll want to visit your title company\u2019s website. You\u2019ll also want to do a little research with the Better Business Bureau to find out if any complaints have been filed against the company. Ask how long the company has been in business and whether they have a reputation of professionalism and competency.<\/li>\n\n\n\n
- Ability to accommodate the customer<\/strong> \u2013 If the buyer and seller are in different locations, you\u2019ll want to make sure the title company can accommodate the closing. That might mean closing has to be done by mail, and you\u2019ll want to make sure the title company can do that.<\/li>\n\n\n\n
- Professionalism and competency<\/strong> \u2013 One thing to consider here is the atmosphere in the office. Is it relaxed or harried? Other questions to ask yourself are: Is the office organized? Do the employees dress and act professionally? How much experience do the company\u2019s closing agents and title examiners have?<\/li>\n\n\n\n
- Legal support<\/strong> \u2013 Consider whether the company has in-house attorneys well-versed in real estate legal issues.<\/li>\n\n\n\n
- Professional membership<\/strong> \u2013 Can your title company handle a 1031 exchange, email closing documents, issue a title policy at the closing table or handle construction disbursements? Is the company using the latest technology? Is it a member of the American Land Title Association (ALTA)<\/a>?<\/li>\n<\/ul>\n\n\n\n
- Ability to accommodate the customer<\/strong> \u2013 If the buyer and seller are in different locations, you\u2019ll want to make sure the title company can accommodate the closing. That might mean closing has to be done by mail, and you\u2019ll want to make sure the title company can do that.<\/li>\n\n\n\n
- Makes signing documents easy<\/strong> \u2013 If your title company is paper-free, they probably use E-signing, which prevents you from having to sign your name an endless amount of times. It\u2019s also good for the environment.<\/li>\n\n\n\n