Titleinsurance.com

While title insurance premiums are typically set by a state’s insurance department or another agency, many transactions qualify for discounts (e.g. reissue rate) that are not always offered by all title insurance providers unless you ask. These discounts, which are based on the amount of the purchase price and mortgage, can be substantial—in some cases 50% or more off the base title insurance premium.  At Titleinsurance.com, we don’t wait for you to ask — we always offer you the lowest reissue rate available for your transaction.

In addition to the cost of the title insurance premium, title insurance providers are allowed to charge various other closing fees, the cost of which is typically not regulated.  While many of the additional fees charged by title insurance providers are legitimate, the amount charged is in many cases excessive or at least higher than what Titleinsurance.com charges for the same service.   Titleinsurance.com prides itself on not “nickle and diming” our customers with unnecessary or excessive closing costs or “junk fees”.  In fact, the only fees we charge beyond the title insurance premium are either legally required or are reasonable and below industry average.

Depending upon the state in which the subject property is located, Titleinsurance.com, LLC (a New York limited liability company) or one of its licensed affiliates will either act as the policy issuing agent for the title insurance underwriter (e.g. Fidelity National Title Insurance Company, Chicago Title Insurance Company, Commonwealth Land Title Insurance Company, Old Republic National Title Insurance Company  Stewart Title Insurance Company and/or First American Title Insurance Company) or will coordinate the issuance of title insurance from a licensed title insurance agent or underwriter.  In certain states, Titleinsurance.com, LLC or an affiliate may also act as settlement agent for the transaction.

Ordering title insurance from Titleinsurance.com does not result in any additional work or coordination from you.   As part of the order process, we will ask you for the names and contact info for all of the applicable parties to the transaction.  From there, we will prepare a title insurance commitment and will work directly with all of the necessary parties to ensure that any pre-closing conditions are cleared as quickly and efficiently as possible.  And when it comes time to close your transaction, we will similarly coordinate with all applicable parties to ensure a smooth closing.

Absolutely not. You do not need to use the title insurance company that your lender or real estate broker recommends.  It is your legal right to select the title insurance provider.  In fact, the Real Estate Settlement Procedures Act (RESPA) is a consumer protection statute that among other things prohibits any requirement that a purchaser or borrower buy title insurance from any particular company.  For more information on RESPA, visit www.hud.gov/respa/

Title insurance protects your real estate investment— typically one of the largest investments an individual makes. Title insurance is a form of indemnity insurance predominantly found in the United States which insures against financial loss from defects in title to real property and from the invalidity or unenforceability of mortgage liens. Title insurance is principally a product developed and sold in the United States as a result of an alleged comparative deficiency of the U.S. land records laws.

It is meant to protect an owner’s or a lender’s financial interest in real property against loss due to title defects, liens or other matters. It will defend against a lawsuit attacking the title as it is insured, or reimburse the insured for the actual monetary loss incurred, up to the dollar amount of insurance provided by the policy.

Typically the real property interests insured are fee simple ownership or a mortgage. However, title insurance can be purchased to insure any interest in real property, including an easement, lease or life estate. Just as lenders require fire insurance and other types of insurance coverage to protect their investment, nearly all institutional lenders also require title insurance to protect their interest in the collateral of loans secured by real estate. Some mortgage lenders, especially non-institutional lenders, may not require title insurance. Buyers purchasing properties for cash (without a lender) often want title insurance as well.