What are the main differences between title companies and how should I base my decision for which to use?
Title insurance rates in NYC are the same for all companies (i.e. universally set) and the product is primarily uniform; therefore, it’s important to base your decision on the service the company provides. However, keep in mind, that as a buyer, your attorney will most likely select the title company he / she works with regularly, unless you request a specific one to use.
If you are interested in researching the different title company options, the primary criteria to consider are:
- Level of quality customer service, especially response and turnaround time
- Resources and tools to help assist you and your real estate team (attorney, broker, lender, etc.) with the transaction
- Information and pricing transparency
- Use of technology to facilitate closing preparation
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