SELLING, BUYING OR REFINANCING YOUR HOME, SHOP AND SAVE THOUSANDS?

It’s an open and competitive market place for real estate commissions, mortgage loans, title insurance & closing services, homeowner’s insurance, and home inspection services, which when properly shopped can add up to thousands of dollars of potential savings.

In fact, according to data recently released by ClosingCorp, the national average closing costs (i.e., lender’s title policy, owner’s title policy, appraisals, closing settlement fees, recording fees, surveys and transfer taxes) for a single-family property totaled $3,438 excluding real estate taxes.

If your real estate broker or mortgage lender recommends a particular Title Company, always ask it they shopped and compared the services, protections and costs.

Remember, it pays to shop and compare.


Consumers, contact your Title Company before wiring money to the

Consumer Alert

Consumers don’t be scammed by fake emails and wiring instructions.

When having to wire money to a Title Company for your real estate transactions, just don’t rely on your Title Company’s or real estate broker’s email of wiring instructions, even if the email is secure.  It is important that you contact the Title Company directly to verify their wiring instructions and bank account numbers.

There have been numerous reports of emailed wiring instructions that are being hijacked; and hackers are impersonating title companies and real estate brokers with revised and erroneous wiring instructions being resent to consumers.  The FBI has reported that cyber-crime targeting home sales has exploded. The agency reports Americans lost $19 million to real estate wire fraud in 2016; a year later, the total skyrocketed to $969 million, a five-fold increase.

Remember to contact and talk directly to your Title Company before wiring money to them.

The following link to the Federal Trade Commission website will also explain how consumers are being scammed.

https://www.consumer.ftc.gov/blog/scammers-phish-mortgage-closing-costs

 


Understanding what CompareTitleCompaines.com is about?

First and for most, consumers and real estate and title industry professionals need to know that CompareTitleCompaines.com is not a Title Company, but an unbiased transparent educational resource about title insurance and closing settlement services.

From a consumer perspective, CompareTitleCompanies.com is about education, transparency of information, and creating an open & competitive market place of choice, which provides detailed information, so consumers can effectively shop and select the right Title Company for their real estate transactions.

From a real estate professional’s (i.e., real estate brokers, mortgage lenders and attorneys) perspective, CompareTitleCompanies.com is about a value-added resource that real estate professionals can provide their clients for their real estate transactions.

From a title insurance industry standpoint, CompareTitleCompanies.com is a “Marketing Partner” for title companies to market their services directly to consumers.