Having a good title company on your investing dream team can save you time and money and even bring in new leads. But when you’re just starting out you might not have the bandwidth within your network to know who’s top-notch and who to stay clear of. So with a substantial selection of title companies in the DC Metropolitan area, how do you begin your search? 

Tap into your local REI Meetup

A quick search on Meetup.com will generate tons of free real estate investing networking events. There you’ll get the chance to meet other investors and ask them who they trust for their title needs.  

 

Ask the best using the MLS 

If you have access to the MLS, do a search for the top 10 realtors in your area that are doing the most real estate transactions. Get their contact information and find out who their preferred title company is and why.  

After you get some recommendations, contact the title companies directly with a list of requirements. Here are some suggested questions to help you with your vetting:

Are they investor-friendly?

When you call the title company, find out who their clientele is. Do they handle investor deals or just do traditional closings? Find out how experienced they are working with investors and with what types of transactions.

Are they investor-friendly? 

When you call the title company, find out who their clientele is. Do they handle investor deals or just do traditional closings? Find out how experienced they are working with investors and with what types of transactions.  

Do they understand creative real estate?

Apart from being investor-friendly, your title company needs to be fluent in the different types of real estate transactions. If you’re starting up a wholesaling venture, don’t assume that all investor-friendly title companies allow back to back closings. And if they do, ask them whether they require you to disclose all information to all parties which could create problems.

How accessible are they? 

As a hard money lender, we require all borrowers to have title insurance. And for every loan, our Loan Processors work directly with the borrower and the borrower’s chosen title company to collect documents. One of the biggest issues that sets back a project’s timeline are slow responses from the title agent, especially when there are issues. A good title agent will understand that you have a deadline and work with all parties to get your deal closed on schedule.

 What can they do for you?

Much of a title agent’s time is spent researching the history of properties – information that could be really valuable in the hands of an investor. It doesn’t hurt to ask if they have any information that can offer you; we’ve heard of title companies sharing valuable lists of information found during property inspections with investors.

They can also be a useful resource in growing your network. Title companies work closely with investors, agents, and brokers, so they know who’s relevant and easy to work with.  

Focus on Quality 

During your initial conversation with the companies you are considering, don’t make decisions solely based on price. Instead, place heavy weight on the recommendations you receive from the people in your network when comparing fees and services. Once you’ve narrowed your search, you don’t have to choose a single company to work with, we recommend having at least 2 reputable title companies on-hand to handle your real estate transactions.