Experience with Title Companies?
I work for a large title company focusing on commercial real estate and am interested in increasing my networking abilities and maybe bringing in more business. So I am generally curious about people's experience working with their own title insurer? What are things that you like or don't like about working with your title company? Do you choose the title company yourself or just have your attorney or broker choose? What are things that would make you consider changing title companies other than price? Any brief insights you can share are greatly appreciated.
[{"id": "d1d6vk8", "text": "I don't like avoidable delays or being overcharged.  I despise and I cant say the word 'despise' hard enough when I say it, when I am the one pushing the title company to get their job done. \n\nBe preemptive and anticipate what is next and do it.  When a title company does that, that's when you will have my business and my loyalty.", "replies": [{"id": "d1dsu7i", "text": "We killed a long term relationship with a title company because they had continuous delays on a large transaction with us. The cost is minimal, but delaying a transaction is huge. ", "replies": [], "depth": 2}, {"id": "d1ess6u", "text": "I could have written this exact post. It seems like either a title company is incompetent or wildly overpriced. No middle ground. ", "replies": [], "depth": 2}, {"id": "d1i5j5i", "text": "What are some of the things that you feel like you have to wait on from time to time? Updated commitments? Draft indemnities or affidavits? Responses to underwriting questions? All of the above? Thanks for your response.", "replies": [], "depth": 2}], "depth": 1}, {"id": "d1gcliu", "text": "take the time to understand the different loan products out there and the do's and don'ts for paying them off. As a servicer, we see a negative impact on clients when title companies don't understand CMBS payoff requirements. ", "replies": [], "depth": 1}]