Why choosing a local title company is better
After 16 years of handling real estate closings, I could easily provide 100 examples of why a borrower, whether a homebuyer or a refinancing homeowner, should choose a local title company rather than allowing a national "out-of-town" title company to handle your real estate closing. But allow me to just give you 3 simple and basic reasons.
1. Duty of Care
In reviewing title work over the years, I have witnessed countless cases of national title companies failing to release paid mortgages/liens from a homeowner’s title records, only to be cleaned up by our office – a local title company.
In addition, I have often dealt with faulty deeds, unpaid real estate taxes, and other improper filings by the national title companies due to the national title company’s failure to understand or adhere to local laws and customs.
These mistakes leave the homeowner with defective title and often present hardship to the homeowner when attempting to re-sell or refinance their property. As a hometown title company, Federal Title & Escrow Company has a vested interest in maintaining healthy and accurate local real estate records
National "out-of-town" title companies often dispatch an inexperienced, non-attorney, notary public to your home or place of business to conduct the closing. In contrast, when you choose Federal Title & Escrow Company, as a local title company, you get an experienced and licensed real estate attorney to conduct your closing for the same (or often less) closing fee – get a quote and compare.
A local "hometown" title company has a reputation to defend and must answer to the local community in order to preserve that reputation. Their business relies on referrals from the community which includes neighbors, friends, family, real estate agents, and local lenders.