Join Club

Ask Eli: How to Choose a Title Company

This regularly-scheduled sponsored Q&A column is written by Eli Tucker, Arlington-based Realtor and Arlington resident. Please submit your questions to him via email for response in future columns. Enjoy!

Question: Do you have any guidance on choosing which Title Company to work with when buying or selling real estate?

Answer: Title companies handle the legal side of the transaction such as ensuring the buyer has clear ownership, reviewing and recording the deed, issuing title insurance, and preparing paperwork for the buyer and seller to sign at closing. They operate in the background of transactions and usually the less you hear from them, the better. They are not legal representatives of either party and objectively support the buyer and seller.

In Virginia (and D.C./MD), buyers select the title company. In some cases, a seller may want to use their own firm/attorney and will request a “split settlement” but that is less common and should be done for a good reason.

Most people don’t know a title attorney or get a referral from a friend, so how do you go about choosing your title company?

Your Real Estate Agent

You shouldn’t be hiring a real estate agent because they’re the first person to raise their hand to meet you at a property you found online. Among the reasons you hire an agent should be because you trust their advice and want access to their network of professionals who are relevant to a real estate transaction.

Your agent should be the first person you turn to for a recommendation on the title company. He/she has likely worked with dozens or hundreds of title companies before and hopefully has one or two to recommend.

It’s perfectly fair to ask your agent why they’re recommending a specific title company.

Fees

The highest fee associated with a title company is title insurance and those prices are set by the insurance company, not the title company. Different title companies work with different title insurance companies, but rates are similar (or identical) amongst them. If you see big differences in title insurance between two title companies, one may be quoting a basic vs enhanced coverage (buyer’s choice).

I rarely see discretionary fees charged by the title company vary by more than a few hundred dollars. You can always find a cheaper option for title services, but the legal support on a real estate transaction worth hundreds of thousands or millions may not be a smart place to save a few hundred dollars and risk quality of service.

Location

It’s important to use a local title company who is familiar with local real estate and tax practices, not just licensed to practice here. I use one title company (Universal Title) for Northern Virginia transactions and one title company for Washington, D.C. and Maryland transactions (District Title).

Attorney Experience

Most sales follow a pretty standard, predictable process that inexperienced title companies/attorneys can handle but occasionally something unexpected comes up that requires experience/expertise to identify and resolve an issue. If problems do surface, having access to an experienced local title attorney can be the difference in whether or not the problem is even identified, whether a sale closes, and/or how much time and stress it takes to resolve the issue.

Back-Office Support

The quality and experience of the support staff is equally as important as the attorney. Look for a title company who has experienced processors who have been with the company for a while. Title companies who can afford to cut fees below their competition likely do so by not having a full supporting cast or not paying to hold onto experienced processors.

Insurance Provider

One of the key roles of a title company is that they issue title insurance, which protects your ownership interests in the property from any future claims. Most title companies have one insurance company they issue policies for such as First American, Old Republic and Chicago Title.

Most buyers are indifferent about their title insurance provider, but you may want to confirm who the title company uses to do some background on them such as size (market share) and how long they’ve been in business. I generally prefer larger insurers who have been in business for a long time.

If you’d like a recommendation on a title company in the DMV, don’t hesitate to reach out to me at [email protected].

If you’d like a question answered in my weekly column or to set-up an in-person meeting to discuss local real estate, please send an email to [email protected]. To read any of my older posts, visit the blog section of my website at www.EliResidential.com. Call me directly at (703) 539-2529.

Eli Tucker is a licensed Realtor in Virginia, Washington D.C., and Maryland with RLAH Real Estate, 4040 N. Fairfax Dr. #10C Arlington, VA 22203, (703) 390-9460.

Recent Stories

Another unassuming Arlington restaurant tucked well away from a Metro corridor has received a glowing write-up. King of Koshary, at 5515 Wilson Blvd in Bluemont, “serves Egyptian food fit for…

Morning Notes

Knife Incident Along I-66 — “Scanner: Arlington and state police on scene of incident along I-66 near Rosslyn and the Key Bridge. A man reportedly came out of the woods…

Good Monday evening, Arlington. Today we published articles that were read a total of 10824 times… so far. 📈 Top stories The following are the most-read articles for today —…

The Sun Gazette newspaper has not published new articles on its website since Friday and may have printed its last edition. Several sources tell ARLnow that the free weekly paper,…

Have you noticed a striking sculpture at Monroe Street and Wilson Boulevard? It’s the Museum of Contemporary Art Arlington’s newest installation, _Make Your Mark_ , by Arlington artist, Adam Henry. This sculpture celebrates MoCA Arlington’s rebranding and brings the museum’s energy outdoors.

On February 11, come inside when the museum’s galleries reopen with two new exhibitions: Rebecca Rivas Rogers: Grey View and Crisis of Image.

Grey View, in the Wyatt Resident Artist Gallery, is an homage to “gray” and a snapshot of the artist’s process. Consisting of photographs, collage, and a site-specific installation, this show is an outgrowth of Rivas-Rogers’ visual investigations into places you see on your way to somewhere else.

On the main level, Crisis of Image features artists who seek equity in today’s saturated visual world by developing new methods related to the production of images.

Read More

Submit your own Announcement here.

Its February and you said you would start your journey to a healthier you, last month! If you are struggling and do not know how or what to do to get started, we are here to keep you accountable. At Aspire Higher Training, we offer 1-1 Personal Training for ALL fitness levels, Semi-Private Group Training, Sport Specific Training and Injury Prevention/Post-Physical Therapy Training. Monica and her team of trainers are available across Arlington, Va.

If you don’t have access to a gym, no problem, we are located in South Arlington, but if you want to workout from your home gym, we also offer that flexibility. We make it as convenient as possible to ensure your success. Before getting started, we offer a free 15-30 minute consultation call to see how we can best help you towards your health and fitness goals. Let’s get started on your health and fitness goals today by setting up a call at your earliest convenience:

https://www.aspirehigherfitness.com/contact

Submit your own Announcement here.

Valentine Pop-Up at George Mason University

Valentine gifts for someone special or for yourself are here at George Mason University from noon -4pm on February 14, 2023. Satisfy your sweet tooth with Kingsbury Chocolates, find a handmade bag from Karina Gaull, pick up treats from Village

Standup Comedy Showcase Starring Matt Ruby (Comedy Central)

Dead Horse Comedy Productions brings together top comedians from the DMV and beyond for a live standup comedy show!

Matt Ruby, Headliner

Matt Ruby is a comedian, writer, and filmmaker from New York City. His comedy has been filmed by

×

Subscribe to our mailing list