What to ask when shopping for a title company?

I’m still getting off the ground, but as I’m getting my ducks in a row I want to know what to look for and what to ask about as I search for title companies to deal with.

An important thing for me since I have a day job is either weekend or remote closings. I can ask about whether they do raw land deals, but I don’t know what else to ask beyond that. thanks!

@rcoronado what do you need your title company to do for you? Are you trying to pull off an assignment or double closing? Are you just trying to close quickly? Are you trying to minimize paperwork?

Most title companies I know of can do remote closings with no problem. I don’t think it’ll be hard to find one that can do that.

Land deals should also be a very basic task that any title company can do. That question almost isn’t even worth asking, but I suppose you could put it out there if it gives you peace of mind to hear them say it.

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I usually simply ask what their charges are (you need to tell them your purchase price) and how long they estimate it would take them to close.

Always add at least a week to what they tell you.

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@retipsterseth Thanks for taking the time to respond Seth.

really i’m just trying to avoid messing things up, since I lack experience in this arena. to me a title company is a fundamental insurance policy against me buying land from a seller that has leins or otherwise isn’t in a position to sell it.

In my whole life i’ve only ever purchased the home i currently live in and the condo i was in before that, so two reps on this stuff is not a lot. :slight_smile:

Good luck to you

@rcoronado Hey! I ask title companies for a line item quote (per the signed contact) on how much everything will cost to close with them. I also ask how quickly can they close. In my experience, they all cost about the same. The difference is in their closing times and level of customer service (how quickly do they respond to emails, etc.). Good luck!

@melody-rauber How much does it typically cost?

@sempervirens I believe closing closes can vary depending on the state / market you are in. I pay around 1% of the purchase price for land. When I go to flip, I ask for a binder, so I get a discount on doing title work with them again. Hope that helps.