When buying a home, the seller typically makes an initial request to use a particular title company, however it is not mandatory to accept their choice. In some situations, if you work with the seller’s preferred title company they will discount the title fees. This is very common in bank owned property transactions, but there is a cost, that cost is usually a lack of service because these companies operate under a price model rather than a service model and might only discount a few hundred dollars at the expense of your transaction not closing on time.
When possible it’s recommended to work with the title company recommended by the mortgage company or by your real estate agent. Why? Because most mortgage and real estate professionals have preference on title company because they know which title companies will perform and which are going to make sure the transaction closes smoothly and more importantly, on time.
In a refinance situation, the title company is usually determined by the lender unless you have preference. Ultimately it’s up to the consumer to choose which title company to work with.
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