Title companies, can you trust them? (appraiser, mortgage, mortgage company, insurance)
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In all the transactions I have ever done I never had a bad experience with a title company other than some are working very slow, but since there are hardly any closing, I guess that has solved that issue too.
Recently someone pointed out to me that there are title companies who don't check everything correct and the title might not be clean as it should be when you close.
Does anyone has any experience or knows what to look for when it comes to check if a title is really clean.
I've used Alpha Omega Title company several times and have not had a problem. It is my understanding that if you pay for title insurance and the title company messes up they are liable. I would post this ? in the real-estate forum where there are people that are more familiar and/or professional in this area.
Thanks a lot. I just noticed the question I have is removed and I don't know why? I just want to find out what to look out for so me and others won't get a clean title, if that is even possible.
Location: Mokelumne Hill, CA & El Pescadero, BCS MX.
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Title insurance companies are INSURANCE companies. They collect money with the hope that they never have to pay anything out. Can you trust them? Hell No! Should you deal with them? Absolutely. They examine the title carefully to make sure they won't have a claim against them and if they make a mistake (title officers are human) they pay to rectify the mistake. At least they only charge a one-time fee.
I recently used Madison Title Agency for the purchase of my home, they were great because they have lawyers in house to check over the title to make sure everything is 100% correct, and are there to help you understand the whole process to make sure its a clean title.
If you don't have title insurance, you're liable to lose your property if any ancient problems come up. Like most say, USE the Title Companpny. They are responsible for a clear title and will relieve you of any of the legal land anxieties of ownership dating back to the beginning of time.
If you don't have title insurance, you're liable to lose your property if any ancient problems come up. Like most say, USE the Title Companpny. They are responsible for a clear title and will relieve you of any of the legal land anxieties of ownership dating back to the beginning of time.
I always use a title company but last year there was a scam going on with realtors, title company and a mortgage company combined. They all were in it to get money from innocent people. There was a huge article back then in the Tampa Tribune and I don't know if things like that are happening more often. Mostly people find out too late although they think they used all the should use in a real estate deal, that is why I'm asking the question.
These people acted like people do in identity theft, they outsmart a lot of people but always end up getting caught, but during the time a lot of people are becoming victims.
Haven't heard that problem with Title companies in our area, AZ. Yes there were problems with lenders, realtors, appraisers, but not any title companies that I'm aware of. Other States may have had some problems. The laws are vary around the country and the situation you discuss is like a legal/lawyer account.
Bentlebee,
I think the issue that you might be talking about is the "outsourcing" of title abstacts to foreign countries. I really don't know very much about it, since I just heard bout this occurring, but the concern is that our title's coming from these countries may not be as clean as they should be. I don't know which title companies are doing this, but I would ask if the local title abstract is being done locally. That should take care of that issue.
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