Title and Escrow Services: Shop Around

When it comes to real estate, just about everything is negotiable, so don't ever let anyone tell you that services like title insurance and closing costs (escrow services) aren't.

Title insurance companies are hired, in part, to issue title insurance protection for home buyers and lenders. Lenders require the service to protect them against loss resulting from claims by others against the home you are buying.

The insurance comes into play during the "closing" period of the real estate transaction and is usually packed with escrow services.

Escrow services (sometimes attorneys, sometimes just a neutral third party) handle all the paperwork, transaction, deposits, mortgage signing, and various other "closing related" issues.

Before hiring title or escrow services, obtain several referrals from those you trust, family, friends, co-workers, real estate agents and others who've recently had a satisfactory closing of escrow.

Compare the costs of different escrow and title companies before agreeing to use one. Fees can and do vary widely. Ask for EACH AND EVERY escrow cost from title insurance and search and escrow service fees to all the little, so-called "garbage fees" that crop up during a closing.

Make sure you get a good faith estimate from your lender, and double check the lines that cover these title and escrow services. Remember, an estimate is only that.. an estimate, so do your homework, and make sure you know the EXACT figures, and what you're getting for your money, before you go to the closing.

On closing day, be prepared with plenty of time, pencils, paper, a calculator, and an inquisitive, demanding mind. You are allowed to have your representative — a real estate agent, mortgage counselor or other professional — attend closing with you.

If we are involved in your real estate purchase, we will accompany you to your closing.

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