Choose Title Settlement For Free

As a buyer or seller, you are entitled to choose a Title Company you can trust to work efficiently and accurately, and who will stand behind your transaction.

As a buyer or seller, you are entitled to choose a Title Company you can trust to work efficiently and accurately, and who will stand behind your transaction.

The choice of an escrow agent is usually agreed upon by the principals in the real estate purchase contract. While a seller might choose one company and a buyer may select another firm, they must ultimately agree on the specific escrow holder.

Title insurance: Illinois contracts generally require the seller to pay for a title search and title insurance for the buyer. Cost is based on the sale price and only varies slightly between title companies.

In Michigan, the buyer and seller may each choose their own title company to represent them at the closing and issue the title insurance.

Title agents are companies or individuals registered by the title insurance underwriters to conduct real estate transactions throughout the State of Illinois.

Think about if any issues arise prior to ? or even after the closing ? a local company can generally handle any issues rather quickly as they don't have to check in with the out of state office before making any major decisions. Time can be a valuable commodity in the world of real estate closings.

Question: Who chooses the title company, the buyer or the seller? The law states that whoever is paying for the service should choose the provider of that service. It is customary in our area that the title company's fees are split, so it is a matter of agreement between the buyer and seller.

While the buyer or the buyer's real estate agent usually chooses the closing or escrow company, the seller can agree to the buyer's selection or counter with another choice. Although the seller generally agrees with the buyer's suggestion, the selection of the company is negotiable.

Your real estate agent or lender may suggest or decide what title company to use, but it's actually the buyer that has this decision power. Consumers have the legal right to choose their own title company, but rarely exercise that option.