Title Insurance

[mh90630]

Can the buyer shop around and get the title insurance for the lender and owners title insurance. I hate to have my real estate agent do it; he spends my money like its not his.

[NotCranky]

Yes you can shop title insurance around if you haven’t agreed to do otherwise. If if you have agreed sometimes it can be changed in escrow anyway. You can also shop for an escrow, although the seller has to agree on the choice,write your choice into the contract and see what happens or slip it into a counter offer, if all this is not done already.

[NotCranky]

Yes you can shop title insurance around if you haven’t agreed to do otherwise. If if you have agreed sometimes it can be changed in escrow anyway. You can also shop for an escrow, although the seller has to agree on the choice,write your choice into the contract and see what happens or slip it into a counter offer, if all this is not done already.

[SD Realtor]

You should absolutely shop around. One thing you may want to do, if you are a seller, check who previously issued your title insurance policy, go to them first and let them know as they may cut you a better deal then any new provider.

Also many providers will compete in a pretty fierce manner. Your agent may have some good connections as well. Tell your agent that you want the provider they recommend to meet or beat any written estimate you get from other vendors. If they cannot meet or beat then you will go with the other vendor.

SD Realtor

[SD Realtor]

You should absolutely shop around. One thing you may want to do, if you are a seller, check who previously issued your title insurance policy, go to them first and let them know as they may cut you a better deal then any new provider.

Also many providers will compete in a pretty fierce manner. Your agent may have some good connections as well. Tell your agent that you want the provider they recommend to meet or beat any written estimate you get from other vendors. If they cannot meet or beat then you will go with the other vendor.

SD Realtor

[sdrealtor]

FYI, title insurance rates are on file with the Insurance Commissioner and if they are cutting you a deal, odds are very good they are violating the law. If someone offers you a great deal get it in writing and find out what kind of policy you are getting. I’d make sure it’s a Homeowner’s Policy (ALTA HOP). Much of the price cutting comes at the expense of getting lesser coverage.

I have also heard many stories of promises made that were undeliverable at closing time. If you are going to transfer the house into a trust make sure you include that in your shopping. Most policies become invalid when you transfer ownership even if its only into a personal trust.

[sdrealtor]

FYI, title insurance rates are on file with the Insurance Commissioner and if they are cutting you a deal, odds are very good they are violating the law. If someone offers you a great deal get it in writing and find out what kind of policy you are getting. I’d make sure it’s a Homeowner’s Policy (ALTA HOP). Much of the price cutting comes at the expense of getting lesser coverage.

I have also heard many stories of promises made that were undeliverable at closing time. If you are going to transfer the house into a trust make sure you include that in your shopping. Most policies become invalid when you transfer ownership even if its only into a personal trust.

[Author]

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