How to Select the
Best Real Estate Settlement Company

Your realtor's recommendation could cost you big-time!

If you are getting ready to purchase real estate, or expect to go to closing on a real estate transaction, think twice before using the real estate title company recommended by your real estate agent.

Home buyers often accept the recommendations made by their realtor and/or lender for a real estate settlement or closing company.

What many consumers don't realize is: Many real estate companies and/or lenders profit by setting up affiliated business agreements with title and escrow companies. These affiliated agreements control the flow of business and keep it all within a single corporate network.

Unwitting consumers can end up paying much more than necessary when using the settlement or title companies recommended by their realtor, because the fees charged by the affiliated title and escrow company can be greatly inflated.

That's why it pays to compare at least three different title and escrow companies to make sure that you are in fact getting the best deal. The majority of title companies will meet or beat competitors' prices in order to secure your business.

When shopping for a closing company, you will want to inquire as to the company's years in business and experience of the staff to ensure that your transaction is in good hands.

If you do not have the time to dedicate to shopping a closing company, I highly recommend consulting with friends and even neighbors who have had a recent closing experience. What better way to find out about a particular closing company than from the personal experience of someone that you know and trust!

A real estate closing is the biggest financial trasaction that you will make. Make sure that you research all aspects of the process to guarantee a smooth transaction and avoid paying more than necessary.

Source: Melissa Burroughs, The Settlement Company, Warrenton, Virginia