Buying a Home - Why You Should Choose Your Own Title Insurance Company

Title Insurance with Franklin Title Agency, LLC



Buying a home?

The primary reasons you choose your own title company are:

(1) The experience of the company,
(2) The security of their insurance product and
(3) The relationship the title offer and escrow team has with your Realtor. Realtors like working with their own title personnel because of longstanding relationships and trust. We DO NOT like working with title officers we don’t know.

NEVER choose a title company because their rates may be lower. That can be like paying less for a frontal lobotomy.

Who gets to choose? Totally depends on who will be paying for your title insurance and escrow fees. The party that pays the fees is the party that gets to choose. We have differing rules in side-by-side counties here in our area. In one county buyers pay title and escrow costs and should therefore be allowed to choose. In the next county, it’s the exact opposite.

Here are some caveats to these rules:

(1) If you are buying an REO, the asset manager will choose the title company regardless of whether or not they actually pay the title and escrow fees and regardless of whether or not it is a RESPA violation to do so. Don’t like it? Don’t write an offer. Complaining won’t work and will not change anything.

(2) If you are buying a probate or short sale that has had a pre-escrow opened for a long period of time, it makes practical sense to stay with the exiting pre-escrow, even if you end up paying the fees. You can always ask the seller to cover the cost of title insurance and see what they do.


Keith Stonehouse - Franklin Title Agency



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Eric Michael
Remerica Integrity, Realtors®, Northville, MI - Livonia, MI
Metro Detroit Real Estate Professional 734.564.1519

Keith, thanks for the info. Like working with one of my preferred lenders, working with a title company that I trust is the way to go. It's the "unknown" that's scary.

Aug 29, 2012 03:20 PM #1
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Keith Stonehouse

Franklin Title Agency
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