One of the most common misconceptions out there is that seller ALWAYS gets to choose the title co since he/she is paying for the title policy. In some case, REOs and HUDs this is true. However as the buyer, when you submit a contract/offer, YOU have the the right and opportunity to tell them what title company YOU want to close the transaction with.
Why is this a big deal, aren’t most title companies the same? NO! They are not! As a lender I have to deal with the title company listed on the contract and I can tell you all title companies are NOT created equal. I have 4 borrowers ready to close who have been ready to do so for several days. We are STILL waiting on title commitments that were requested WEEKS ago. Unfortunately it is out of our hands how fast the title co.s turn the title commitments around….they are in control at this point. So what do you do you ask?
The BEST thing to do is to ask your lender what title company THEY recommend. As a lender I have several “PREFERRED” title companies that I recommend to buyers that do not know where they want to close. Your lender knows what title companies work best and which ones give them, and by extension, you, the best and fastest service. The title companies take care of their best client’s first. It is a fact of life. That is why many REO’s and HUD mandate the use of their preferred title company.
If you want to ensure a fast closing with little if any surprises then ask your lender, before you write up a contract, who they prefer to close with. It will save you time, money and stress.
I recommend the following Title Companies and Closers:
Sr. Escrow Officer
4975 Preston Park Blvd., Suite 450
Plano, TX 75093
469-241-1269 – office
972-596-7816 – fax
LandAmerica Commonwealth Title of Dallas
Gaylene Rogers Lonergan, Esq.
12801 North Central Expwy
Dallas TX 75243
Phone: (214) 503-8628
Fax: (214) 503-8752