All posts tagged: local title company

WAD OF CASH

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How big of a wad of cash can you flush down the toilet?  Is $10,000 too much?  I mean you might have friends coming over, what if only a few thousand dollars clogged the system?  Are hundred dollar bills septic safe?  Those are the questions you have to ask if you own real estate without an owner’s title insurance policy.

Title claims happen in the best of families, and in the worst.

Even with a title search, there can still be questions of property ownership due to clerical errors, unrecorded deeds and documents, and a whole range of other circumstances.  It is the homeowner’s responsibility to defend their ownership rights against such claims.  Even if the claims have no validity whatsoever, it is still your responsibility to stand up in court and say, “No, that’s mine!”  Otherwise you could automatically lose your home.

If you don’t have title insurance, then you have to pay the legal fees to defend your ownership rights.  The real tragedy is that you could foot the bill in court—the lawyers, the filing fees, and other legal costs—and you could still lose.  That means your money is gone AND your house is gone.  You could be left without a pot…to throw your money away in.

Here’s an idea:  don’t risk your money or your house—get an owner’s title insurance policy. 

An owner’s title insurance policy not only pays the court costs, the policy also provides the legal defense.  Yep, they bring the lawyer.  How much does title insurance cost?  A lot less than a plumber.  For a low, one-time premium, you can purchase a lifetime of title insurance that covers your financial obligation toward the property.  Furthermore, if you do get sued for title to your house, and if your case does not prevail in court, then you get the amount of the policy.

Even with title insurance, you could still lose your case, but you don’t lose everything.  Without title insurance, you might as well chuck wads of cash down the toilet and find out how much you can afford to flush.

Land Title of AmericaWAD OF CASH
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MORTGAGE COMPETENTLY

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“Confidence” and “competence” are not the same. Just because you can click a button to get a mortgage doesn’t mean it’s a good deal. You can be completely confident in absolute incompetence. If you use an online company for your closing and your loan, chances are you’ll pay an astronomical amount for lack of ground control when it comes closing cost and other concerns.

Online mortgage companies offer one-stop shopping, in that you get your mortgage loan and your closing from the same source. However, one-stop shopping isn’t so convenient when it comes with an extra pricey payload.

First of all there’s closing cost. Real Estate is a location-specific commodity, and different regions have different customs regarding fees charged at closing. Online lenders aren’t familiar with local customs. They may tag on a fee standard for their area which does not apply for the location in which you’re buying. However, a local closing company will only apply fees specific to the area—you won’t have superfluous expenses. Also, online lenders may add fees for working long distance, fees that would not be charged when using a local title company.

And secondly, there’s oversight cost. A title company owned by the lender and run by the lender does not have the oversight that an independent, locally owned title company does. “Houston, we have a problem.” Lack of oversight can be costly!! A lender-owned title company is only really concerned about the deals that they get audited on. A local title company is concerned about EVERY deal.

Conclusion

You don’t have to be a rocket scientist or be in a rock band to get a good mortgage. If you pay, you choose—you don’t have to use the lender’s title company. Even with an online lender, you can choose a local title company for a smart financial decision.

Mortgage competently with a local title company.

Land Title of AmericaMORTGAGE COMPETENTLY
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IS ANYBODY THERE? THE PROBLEMS WITH NATIONAL TITLE COMPANIES

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National title companies are easy to find online…unless you have a problem.  If you need help to defend your ownership rights of your property, then it’s up to you to navigate a website, or you’re at the mercy of a telephone tree.

It could be a lesser claim, like your neighbor says that your well is three feet on her property, or it might be something bigger, like a survey error puts a highway smack-dab through the middle of your living room.  Either way, legal fees are expensive.

The claim may be crazy, but it’s your responsibility to defend your ownership rights.  Title Insurance goes a long way to help you.  Title Insurance not only pays for your legal defense, your policy also provides the attorney.  That’s great…so long as your title company answers your call.

A local title company has more accountability to you.  If there’s a challenge to your real estate title, a local company will take your call, or you can walk in the door and speak to someone face-to-face for help.  People who work at a local title company are going to see you at church or school functions, shopping at Wal-Mart, or enjoying downtown.  When they review your closing documents with you, they’re going to make sure you understand them.  A local title company is not going to close the deal over the Internet and never see you.  They’re there to make sure your ownership goes smoothly, and to defend your rights if it doesn’t.

Furthermore, a local title company normally costs less than a national title company.  A national title company may tag on a fee for one region which does not apply for your location.  A local company will only apply fees specific to the area—you won’t have superfluous expenses.  National companies also may add fees for working long distance, fees that would not be charged when using a local title company.

The personal touch of a local title company gives you superior service in cost and accountability for your most valuable investment, your home.

Land Title of AmericaIS ANYBODY THERE? THE PROBLEMS WITH NATIONAL TITLE COMPANIES
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DREAM HOME OFFICE & YOUR LOCAL TITLE COMPANY

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If you’re going to paint, add lighting, put in shelving and storage, move electrical outlets, and install a computer network, expenses can add up quickly, not to mention if you’re going to pull a permit and build an addition.  Refinancing may be the solution to remodel a bedroom into the home office of your dreams, and using a local title company keeps closing costs low.

You don’t have to use the lender’s title company when you’re refinancing real estate.  In fact, you’re better off to use a local title company.  A national title company usually costs more; whereas, a local title company can normally give you a better price because they’re not going to overcharge, or charge you fees that don’t apply to the area.  (And if you ever do have a problem with your real estate title, you’re not at the mercy of a toll-free number; you can walk into an office to get help.)

Invest where you’ll get the best value, and that’s putting money into your home office renovation rather than toward unnecessary closing fees.  Whether you’re self-employed or a home-based employee, using a local title company is a smart business decision.

Land Title of AmericaDREAM HOME OFFICE & YOUR LOCAL TITLE COMPANY
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