Real Estate Investor · Select a State · Member since 2009 · 14 posts · 1 vote
17y
If you find a company that you love to work with, gets the job done quickly, understands wholesaling, and can handle out of state owners as well, then YES. However, it isn't wrong to have more than one company either. My business partner and I have used multiple throughout the years, and technically we have at least 2 we do business with now. This will also depend on what you expect from them, what services they offer for your area, etc. There is no right or wrong answer, but at least make sure you have 1 quality company to work with.
Title Representative · Fort Lauderdale, FL · Member since 2009 · 62 posts · 24 votes
17y
When you deal specifically with one title company, you get to know them, how they work, what they need and ultimately what you are up against when it comes to title. However, I believe in the saying "never put your eggs into one basket". You never know when you may need a bail out. Maybe this title company knows something that your regular title company doesnt know and can get a deal closed more quickly for you. Ultimately, it comes down to if you are getting the service you require and deserve? Are your customers happy when dealing with the title company? Are the realtors happy? Do you have repeat post closing issues? You should always try another title company, just to see if the grass is greener on the other side. If you have any other title insurance questions, feel free to contact me at any time.
Real Estate Coach · Jacksonville, FL · Member since 2009 · 14 posts · 2 votes
16y
Listen. As an investor, you always want multiple title companies on your list.
I use multiple title companies according to what i'm doing. Some are strong in double closing, while others are not.
You may need favors - you don't want to be always asking the same title company to pull a quick title on a property your thinking about purchasing. Best to have a few you use so your favors get distributed. :)
Also, you may have better chance of title reissue if your working with multiple title companies. If a title company issued the insurance on a home your looking to purchase, youc an get a discount on getting tile insurance if you use them to reissue that title insurance to you. This usually needs to be done within a year, but at least you can save some cash.
Now heres to benny for using one often - you can get discounts from them for using them often. I have one title company that doesnt charge me a cent for preliminary title searches, they just bill me on the back end if I get title issued.
Title companies have foreclosure lists and can get you any lien data you need, so certainly get to know your friends at your favorite title company!