Unexpected Home-Buying Costs: Title Services

Unexpected Home-Buying Costs: Title ServicesAs part of our series of articles on the five biggest costs of home ownership, we have taken a closer look at home inspections and home appraisal costs. While you might think the main obstacles are out of the way, title services can eat a big portion of your closing cost budget. Therefore, we have comprised this comprehensive list of ways to shop for title (or escrow) services. While these regulations vary state to state, it’s important to keep these tips in mind to save money. Even more importantly, take care of your insurance needs with a NJ Homeowners Insurance policy.

How to find a settlement service company.

Your realtor or your friends and family can recommend a settlement company that they know is reliable and efficient. Once you have a few companies to check, visit their websites to see if they’re transparent about their fees and to review the experience of their staff. Check with the state title insurance administration for a license and the Better Business Bureau. Call one or two settlement companies to ask questions, including when and where the settlement can take place, states Realtor.

If your realtor is affiliated with the settlement company, he or she should disclose this information to you. However, you are under no obligation to use the recommended company, so be sure to do your homework on fees associated with each before choosing one.

Title insurance.

Rather than shop for yet another provider, you can ask the home’s seller for a copy of their title insurance. This can save time, money and a hassle from shopping for an agent, especially if the policy can be renewed.

About Provident Protection Plus Insurance Agency

At Provident Protection Plus Insurance Agency, we are committed to protecting homeowners against the broad spectrum of perils they face. Whether it is your full-time residence or vacation spot, our homeowner’s insurance is custom written to meet your specific needs and offers higher coverage limits and inclusions that traditional policies. For more information, contact us today at (973) 579-6776.