Law statutes provide that when you buy or sell a home, an independent third party must perform the escrow and closing. Most homeowners and buyers let the Realtor and/or Lender choose where their closing will take place. Normally they will just accept the Title Company that the Realtor or Lender has selected, not knowing they have a right to choose who performs the closing themselves. State law provides that the party paying for the title insurance shall have the right to select the title insurer. If your Realtor or Lender has selected your Title Company for you, don’t be afraid to ask them why. Ask them if the company is a local company or national company. Do they have a good reputation? Check with the Department of Insurance in your state to verify if the Title Agent is in good standing. These are a few things you can do to make sure you have selected the right Title Agent/Settlement Company.

Title fees and charges are regulated by the state insurance commissioner’s office and vary from state to state. In some states, there may be a rate, called a "promulgated rate" which is the minimum amount set by state law which a title company must charge for title insurance and title searches, but the title company is allowed to charge a higher rate, if it so chooses. Therefore you should shop around when buying title insurance. You may find even a small savings would be worth it. Most states charge a set dollar amount per thousand of the purchase price. For example, $5.00 per thousand. Don’t be afraid to ask your title company for the fees up front.

On the other hand, saving a few bucks is not worth a title nightmare. If you choose to go with a title company that charges less, you may get what you pay for. Closings can be delayed for weeks because the title agent cannot perform the duties he or she has been hired to do, such as perform a title search and clear the title making it marketable. The Title Agent may fail to discover a problem that could surface or arise on or after the closing date. The responsibilities of the title agent are vital to your investment or sale. Evaluate all the pluses and minuses of the Title Company such as costs, reputation and standing before you choose.

Mellex National Title, Inc. offers a fully licensed staff of title producers experienced in every facet of the Real Estate Industry. When you are dealing with Mellex National Title, Inc. Agency, you are dealing with competent and knowledgeable professionals. If your request is outside the scope of our service, we will immediately refer you to someone who can help. Please consider placing your closing order with Mellex National Title, Inc.