What are the key variables when choosing title insurance?

• Financial stability rating of title insurance underwriter (the company which is assuming the risk should a claim be made) EnTitle Insurance Company is an A’ prime (unsurpassed) rated insurance underwriter (according to Demotech, the leader in title insurance company ratings)
• Experience of underwriter - EnTitle Insurance Company has over 30 years of underwriting experience and licensed in 35 states and the District of Columbia.
• Ease of transacting title search
• Cost of title insurance premium and other service charges

When do I get title insurance and who is responsible for the selection of the policy?

• A title search is typically requested after the buyer and seller agree on the purchase terms, and after the contracts have been executed. The actual title policy is issued at the closing of the home.
• Until now, the overwhelming majority of the time, the NY homebuyer’s attorney selects the title insurance company. However, this practice is not common in other states and has resulted in limiting the control and cost savings for the NY homebuyer.
• The choice of title insurance company is the RIGHT of the homebuyer and only through a more ‘hands on’ approach will the homebuyer experience competitive policy pricing and unprecedented value.

How would I take advantage of the new lower rates?

• The homebuyer must request in writing that the attorney select Thoroughbred Title Services to issue the title policy. A sample letter is available here. Simply fill in the property address of the house you are buying, your attorney’s name, and then sign and send it to your attorney with a copy to us at the fax or email on the bottom of the letter.

What reaction can I expect from my attorney?

• Because this represents a shift in title insurance company referral patterns, some attorneys may question the request. Simply ask the attorney for a cost comparison between Thoroughbred Title Services and the title company of their choosing. Then YOU decide.
• According to federal law, the Real Estate Settlement Procedures Act (RESPA) entitles you as the individual homebuyer to select the title insurance company.