You Mean I Can Choose My Title Company?
And why should I care?
If you’re buying or planning to buy a home, the title and closing process is often bewildering to the average consumer. Title insurance provides the assurance that you will be able to take ownership of the property without any unresolved title defects. It’s an important part of buying property. But you may not know who gets to choose the title insurance company you work with, and that’s just as important.
Did you know that federal law and Section 9 of the Real Estate Settlement Procedures Act (RESPA) gives homebuyers the right to choose their title company if the buyer is paying for title insurance? Your real estate agent may simply refer you to the title company of his or her preference or personal experience, but you have the right to select the company that you want handling the final step in your journey to purchase a home or other property.
There are several factors to consider in choosing a title company, whether you’re purchasing or refinancing. These include:
- The cost of settlement — fees include title insurance, title search, document preparation, property taxes, notary & recording fees, etc.
- Safety and security of escrow funds
- Convenience — including where you meet on closing day
- Customer service and reliability
- Industry reputation
Northwest Title & Escrow (NWTE), a subsidiary of NW Capital Management, a wholly owned subsidiary of Northwest Federal, has been serving credit union members’ title and closing needs for more than a decade and is managed by an attorney, offering members experience and expertise. NWTE has a 99 percent customer satisfaction rating and has won, not only one, but two awards from its underwriting partners — Stewart Title Guaranty Company’s 2020 Pacesetter Award and Old Republic National Title Insurance Company’s 2020 Shining Star Award! NWTE handles real estate transactions with the utmost care and attention, ensuring an accurate, seamless and timely settlement. It also offers closings at the location of your choice, whether your home, business, a credit union branch or its Herndon office. Electronic closings — also known as Remote Online Notarization (RON) closings — are offered in cash purchase transactions through a trusted third-party provider.
In the end, you want a title insurance company with a solid reputation, one that you know you can trust for this essential step of the homebuying process — ask for NWTE to be your title company. We promise you won’t regret it.