Can You Choose Your Own Company For Escrow And Title

Can You Choose Your Own Company For Escrow And Title

  Can you choose your own company for escrow and title? You can choose your own escrow officer and Title Company for your transaction.  Most buyers will not think of this or care who is chosen to handle the escrow and title insurance. However, you do have the ability to choose.  During the contract stage your real estate agent may request a specific person and company for these services. This could be due to past experience working with the Escrow Officer and Title Company.  Sometimes the listing agent has already opened the escrow and requested the title report. In this case they will want the escrow to stay with that company. It is still negotiable! If the seller is paying all the title and escrow fees then the buyer should not care which company is performing the services. If you are paying for some of the costs then this may make a big difference to you as all the companies have different fee structures.  

They are all regulated by the department of insurance and can have different rates and fees. So shopping for the best deal is an option. Personally I feel that most of the companies will be very competitive on the title insurance and escrow costs. They do vary on the misc. fees or “junk fees”. Here are some of the fees that you may have to pay other than the escrow fee and title insurance fee:

  • Email doc fee
  • Courier fee          
  • Wire fee         
  • Document Prep. fee        
  • Overnight Mail fee 
  • Document Printing fee        
  • Notary or Mobile Notary fee 
Depending on your area, title and escrow could be the same company or two different companies. So you may need to choose more than once. Talk to your real estate agent about the different options for your area and transaction. At least you will be educated about this and know that you made a good decision. 


Sean Safholm BRE#01270334 Headshot
Author:
Phone: 916-920-7000
Dated: March 16th 2014
Views: 355
About Sean: Sean Safholm started his career in real estate in 1999 when he was going to college to study real es...

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