Why you should pre-select your Title & Escrow companies!

A strong working relation between your Mortgage, Title and Escrow companies is very important when problems arise. Resolving difficulties or challenges in a timely fashion can be imperative to achieving success in the mortgage loan process.

Did you know that the gathering and transferring of all information flows to and through your Mortgage Company? It's true. Your Mortgage Company works with all parties concerned in the gathering of the required financial documents. These parties generally consist of a Real Estate Agent, Appraiser, Insurance Agent, Title and Escrow Agents.

The loan process requires a realtor to provide the purchase & sales agreement and all other associated documents such as inspection reports, septic tank pumping receipt and/or certification, roof certification, etc. The appraiser provides the appraisal, the homeowners insurance company provides a homeowner's insurance policy, the title insurance company provides the title policy and the escrow company closes the transaction. Moreover, it all needs to be done at a particular time and in a particular order!

So why Title and Escrow?

Title insurance is necessary to warrant that all deeds and public records are in order, and that the property is free of encumbrances or liens. When there are encumbrances or liens, your mortgage company works closely with title and escrow in resolving the matter.

Escrow provides service in connection with clearing title, ordering payoffs, preparing the closing documents, disbursing of funds, etc. As with title, when problems arise your mortgage company works closely with title and escrow in resolving the matter.

So why pre-select Title and Escrow?

Once the purchase & sales agreement is completed, signed and dated it's too late to consider your options. Experienced realtors will typically write "Buyers choice" into the purchase and sales agreement for title and escrow when their client(s) have not had an opportunity to consider their choices. Why? Because seasoned realtors understand the importance of these relationships and want nothing more then to have the transaction go as smooth as possible for their client(s). This is why Admiral Mortgage recommends specific title and escrow companies.

TITLE COMPANY: -- Lawyers Title -- Fidelity Title -- Transnation Title -- Other

ESCROW COMPANY: -- Sharon Best Escrow -- Assurance Escrow -- Fidelity Escrow -- Other

Please take a moment to download and complete this page in MS Word format and present it to your Realtor. Remember it's important.