Purchasing a home or any type of property is a big decision to make. In addition to making sure you get the best mortgage rates and lenders, you also need to make sure you have enough money set aside for your down payment and other associated fees. One expense you can't avoid is what you need to put aside to give to an escrow agent. In order to ensure you get the best treatment, service, and insurance, you need to spend a little time screening title companies. |
Keep in mind that you can prevent some serious delays from occurring while you are trying to complete the closing process. Before your lender signs off on your purchase and gives the final approval on your real estate transaction, you need to make sure that the title for your property is clean and clear of any liens, previous owners, and other potential legal entanglements. Title companies can provide you with insurance and protection in the event of any potential problems. You may think that you don't need protection against any issues that can arise before you become the legal owner, but you would be surprised at how much you can be held liable for once you become the owner of a piece of property that has some prior unresolved issues.
Get quotes from several title companies. Learn about how much coverage those quotes offer you protection against. Keep in mind that you do have some flexibility when it comes to choosing what is included in your policies. Even if you want the cheapest fees possible, you should not be willing to forgo a policy that provides you with the best amount of coverage. Compare quotes and find out which organizations are offering you the most competitive rates. Go online and do a little research on the reputation and rating for the title companies you are considering. Find out what some of their current policy holders think about their experience with the organizations. Ask friends and relatives who have recently completed their own closing process about which provider they would recommend. Check to see which organizations have a good relationship with your mortgage lender.
Keep in mind that you will be dealing with these professionals for as long as it takes to finalize the closing process on your property. Since most closings take anywhere from 30 to 90 days, you want to work with an organization you can trust. Take some time and meet with the agents that will be dealing with your file. You want to use the opportunity to weed out any title companies and agents that don't have the experience or professionalism that is needed to get things done. You need an agent that you can trust, feel at ease with, and be confident in their capability to clear up any potential problems that may arise with the deed to your property during the purchase and closing process.
Screening title companies in Michigan like Liberty Title can help you find the right one. Don't put off this important aspect of buying a home, and learn more at http://www.libertytitle.com.
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