When someone calls me for a quote for Title related charges, my Spider Sense begins to tingle!
That usually means that the Realtor or buyer is "shopping" in hope of securing the best rate. This is interesting, because in New Jersey, there is only one approved set of rates which is established for all Title Companies. That being the case,....theoretically, there should be no difference from one company to another.
The truth is......that you can call several different companies and get a different quote form each one! The important thing to remember is to get an "apples to apples" comparison.
There are some companies which will give you a quote for the "policy premium" only, thereby omitting a significant amount of Title related charges which will eventually show up on the settlement sheet at the closing table. It's the old Shell Game!
The last thing you and your clients need or want is a "Surprise" at the Settlement Table. So make certain to get an itemized quote in writing from competing companies. That way when comparing different price quotes, you can see if the best price is actually the best deal.
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