When you should start shopping and comparing title companies

1 - Thinking of selling your home
2 - Interview potential real estate brokers

Now is a good time to start shopping for a Title Company
3 - Hire real estate broker and sign Listing Agreement to sell your home

You can continue to shop and compare title companies until you are presented a Contract offer

At the time of the Listing Agreement there is no need to commit to a certain Title Company, as the Contract to Buy And Sell Real Estate allows the seller and buyer the right to negotiate who selects and pays for the Owner's Title Policy

Should your real estate broker recommend a Title Company, make sure to ask if they shopped and compared the Title Company they're recommending
4 - Buyer submits contract offer

At this point, the selection of the Title Company and who pays for the Owner's Title Policy is negotiated between you and the buyer
5 - Real estate broker orders the title insurance & closing services; and also deposits the buyer's earnest money with selected Title Company

At this point, make sure your Real Estate Broker also requests a Seller’s Closing Protection Letter (CPL) for your transaction.
6 -Title Company issues the title insurance commitment and requested Seller’s CPL and then starts the closing process
7 - Closing process continues...
Day of Closing

1 - Thinking about buying a home
2 - Get pre-qualified for a loan
3 - Interview & hire real estate broker
4 - Find a home and make contract offer

Your real estate broker should inform you that selecting and paying for the Owner's Title Policy is a Contract item negotiated between you and the seller.

Before submitting an offer and if you decide to select and pay for the Owner's Title Policy make sure to shop and compare title companies based on the specifics of the home you are wanting to purchase.

Should your real estate broker recommend a Title Company, make sure to ask if they shopped and compared the Title Company they're recommending
5 - Make formal Loan application - Lender issues Loan Estimate of your closing costs that includes title insurance and closing settlement services.
6 - Real estate broker orders the title insurance & closing services; and also deposits your earnest money with selected Title Company

At this point, make sure your Real Estate Broker also requests a Buyer’s Closing Protection Letter (CPL) for your transaction.
7 - Title Company issues title insurance commitment and requested Buyer’s CPL and then starts the closing process
8 - Closing process continues...
Day of Closing

1 - Thinking about refinancing your home
2 - Shop for a lender
3 - Compare Loan Estimates provided by lenders

A Loan Estimate will be provided by each lender allowing you to compare loan costs (including title insurances and closing services), you are free to shop and compare these services and use a Title Company other than the one recommended by the lender.

Good time to start shopping for a Title Company
4 - Choose your Lender and lock in your mortgage loan and rate

You should know the Title Company you want to use

You should inform your Lender to request a Borrower’s Closing Protection Letter (CPL) for your transaction
5 - Title Company issues title insurance commitment and requested Borrower’s CPL, and then starts loan closing process
6 - Closing process continues...
Day of Closing

When do I shop & select a Title Company?