Why Working With a Local Title Company Matters

If you’re buying a house, you’re going to need a title company to do some of the “heavy lifting”, so to speak, to get you through the closing process. Many times the title company isn’t given the attention it deserves as part of the transaction. It should.

You’ve already invested a great deal of time and careful consideration before choosing just the right home, so why wouldn’t you take the same care when looking for a title company? After all, when dealing with a transaction of such high value as well as so many delicate puzzle pieces that all need to be aligned, it’s in your best interest to do your own research and choose a title company that both has a stellar reputation, as well as one that you trust and feel comfortable with.

Not all title companies are alike. Sure, they are required to perform certain tasks and duties, but how they perform those tasks is a big differentiator.

Are all title companies attorney-owned? No, and nor is it a necessity. But is it recommended to do business with one that is? Yes. It is especially important on purchase deals and more involved real estate transactions that stray from the normal closing. This is where a highly experienced title company makes a difference.

Using a title company that is local – versus an out of state entity with only a satellite office near you – is also in your best interest. 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.

But not only that, we often hear the mantra, “buy local”. Well this applies to services as well as goods. At its most basic level, buying goods and services locally means the money stays in the community. Added bonuses of supporting local businesses also include promoting entrepreneurship, building strong community ties, and local decision-making with people that know the area and feel the impacts of their decisions.

And speaking of hiring a title company, you have a choice. 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. So go ahead and call a few places, ask them questions, make sure that you find a title company that you’re comfortable with. Any good title company will be happy to speak with you during your decision-making process, explain the process and fees, and make sure you have all the knowledge you need to understand how everything works. At least do your due diligence and call the one that is recommended to you.

As always, if you have any questions at all about title insurance or even what the title company’s role is in a real estate transaction, Cumberland Title is happy to talk with you, 207-899-4900. And be sure to check out our helpful short video series that helps answer many of the questions homebuyers have about title insurance and the closing process.