When it comes to choosing a title company for your real estate transaction, you may think that cost is the most important factor. And arguable, it certainly is something to consider. But have you thought about the fact that your title company in Maine for the property you are buying in Maine, may not actually be based in Maine?
This can actually be a pretty big deal.
Please double check that the title company you are using is based in Maine. Be careful if they say they are “based” in Maine, simply because they have an office here. You want to know where the company is registered as an LLC or a corporation. Also, do the owners live in Maine, or are they out of state, too?
We all know that supporting local businesses is important for the people living in your community, and helps keep the economy of Maine healthy instead of shipping your dollars to another state. But more than that, local expertise is important. You don’t want to be dealing with a lawyer in another state, when you can have access to experts right here in Maine!
Also, think about what could happen if an issue arises after the closing. Maybe some documents were missed at closing that require the buyer/seller to go back to sign. Or maybe a real estate agent commission check was incorrect. Chances are, it will be much easier to reconcile these issues with a local company that handles everything in-house, versus one that has to run everything through their corporate/head office and then funnel it back out through the local branch office.
Did you know that Cumberland Title offers a free smoke detector installation with every sale or refinance transaction done with them? Ask them how you can get in on this: matthew@cumberlandtitle.com or 207-899-4900.
