09.08.07
Web site to compare Title Insurance Costs
I was surprised to find out HOW different title charges can be among different companies. An enterprising man has set up a web site in Colorado to compare those charges (note, I did not say costs) between different Title Agencies. See article
On one hand I think it is a great idea. If a consumer is savvy enough to compare, they may save significant dollars. On the other hand, it is not a simple task. But I have to believe, contrary to the suggestion in the news article, that most title agencies offer virtually identical services - Commitments and Policies that are the same ALTA forms and endorsements; Closings with the same services of collecting documents-explaining and signing documents- collecting and disbursing funds; recording documents; and sending out title policies.
And we all know that companies have what might be called “junk fees,” the misc. fees that add profit for services that are really part and parcel of the transaction. Call them document prep fees, delivery fees, etc. but the transaction cannot be completed without them.
With the internet so full of content, it will be interesting to watch how the “Expedia.com” of title insurers will fare with both the Public and the Title Companies