Seriously, a title company doing a title search for free?

5 Replies

I remember hearing on Tom Krol's podcat #176 that there are certain title companies that will research a title for free for wholesalers, investors, etc. The idea is through this free service, the investor would close all the deals through THAT title company.

Is this total bunk? 

It's sort of the chicken or the egg first.  Yes, my attorney/title co. will do title searches (o & e reports, title issues) for me for free......but that's after I had done a few deals/developed a relationship with them.  Will a title co. do this for you if you simply call them up with a few possible deals without any prior relationship.....not likely.

@Wayne Brooks Maybe I need to change my mindset. I think of the the title search business kind of like ordering burgers at McDonald's--no freebies, even if you eat there each day as a good customer! 

Is it reasonable to introduce myself as an investor in a title company I have not dealt with and promise to close with them, pay a "retainer" to show I am earnest about it, and in return they'll run a title search for a dozen or so properties? 

Promotion
Avail
Landlording made easy.
Best-in-Class Platform for DIY Landlords
List unlimited units, screen tenants, draft and sign leases, and collect rent—all free.
Use Avail—Free!

@Paul Winka Maybe, maybe not.  Understand the basic title search only costs them about $30-$50.  The interpretation, and actions needed to cure take some knowledge sometimes.  They make their money selling the title insurance when you close.  You can use some of the online title co.s offering services for $40-$50 yourself.

Originally posted by @Wayne Brooks :

@Paul Winka Maybe, maybe not.  Understand the basic title search only costs them about $30-$50.  The interpretation, and actions needed to cure take some knowledge sometimes.  They make their money selling the title insurance when you close.  You can use some of the online title co.s offering services for $40-$50 yourself.

Great hack about online services. I never even thought of that. What's your preferred online title company, Wayne? 

Free eBook from BiggerPockets!

Ultimate Beginner's Guide Book Cover

Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!

  • Actionable advice for getting started,
  • Discover the 10 Most Lucrative Real Estate Niches,
  • Learn how to get started with or without money,
  • Explore Real-Life Strategies for Building Wealth,
  • And a LOT more.

We hate spam just as much as you