Title companies are not strangers to closings. They are usually in and out quickly, moving from one client to the next. Investors don’t have it so easy. Their closings are a bit more complex and require a title company that has experience in handling them.
To find a title company that can provide you with title insurance and have your best interest as an investor in mind, here’s what you need to find the one for you.
Knowing What to Look For in Title Insurance
When it comes to looking for the right title company, you need to know what to look for. So, what are the qualities of an investor-friendly title insurance company?
Title companies who cater to investors understand that it is not about whether the blinds are staying or that the door to the bedroom swings the wrong way. Investors are concerned about money - and they want their deals to go through smoothly so they can walk away with the money they are set to make as quickly as possible.
The right title company will:
strategize outside the box to save a deal
understand what investors are after
have experience in investing themselves
know the lingo
know that closing quickly and efficiently is one of the most important factors.
All the extra fluff doesn’t matter and an investor-friendly title company knows this.
Don’t Settle for an Online Search
Sure, searching things online is a great way to get started. You may search for investor-friendly title insurance companies and get quite a few hits. The truth is, these companies may or may not truly have the experience you are looking for. You can’t just do the search and pick a title company - you need to dig deeper.
If you decide to go this route, consider taking it a step further by asking those in your network if they have ever heard of the title company - or reach out to the title company themselves. Ask them questions that pertain to investor closings, such as “Do you know the difference between a double closing and a simultaneous closing?” They sound the same, but they are different. A title company that is well-versed in investor transactions will know the difference.
Discuss Title Companies With Your Network
If you are a seasoned investor, then you likely have a network of investors or even wholesalers that you can connect with about title companies. Stick to those who are experienced - and can give you the name of a company, as well as an explanation of the experience they have had.
Remember, you are not looking for the company that sells the cheapest shoes or where to find the best chewing gum. You are talking about real money and investments – and you need to be sure you make the right choice.
Ask Title Companies Questions
Finally, when you have narrowed down your search, meet with the title company in person - and ask a lot of questions. Ask about their experience in working with investors, whether or not they can provide references, if they handle wholesale transactions, and then throw in some questions using lingo that an investor-friendly title company will easily know the answer to.
If you are new to investing, you may need to spend some time doing your due diligence online looking for questions, or speak to someone in your network for a heads up of what to ask.
The more time you take vetting your title company, the better chance you will have of finding someone you can build a long-term business relationship with.
District Title is an Investor-Friendly Title Company
Whether you are new to investing or you have been in the game for a while, you need an investor-friendly title company on your side. And, at District Title, we can be that title company.
To learn more, give us a call at 202-518-9300.
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