Home Buying in Massachusetts>Question Details

Steph, Home Buyer in Holbrook, MA

Who chooses the title company in Massachussettes? My realtor said its my attorney.

Asked by Steph, Holbrook, MA Sun Mar 10, 2013

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Client may or may not have a choice in the closing attorney. Closing attorneys contract with different title companies but typicall rep no more than 2-3 so borrower may not get title insurance policy requested. In the end, one co in MA does about 60%+ of the business here so picking a particular title insurance co is low on the priority ladder IMO.
1 vote Thank Flag Link Sun Mar 10, 2013
The buyer can't necessarily pick the title company. Some lenders have CLOSED lists meaning, they allow certain attorneys or title companies to close for them and if you chose a lender like that, you won't be able to choose any title company you want. Your lender should be able to let you know if you can or cannot choose your own title company. Good luck.
0 votes Thank Flag Link Sun Mar 10, 2013
The closing attorney, who may also be your attorney, will choose the title company. He or she should be able to give you a price--indeed, the cost of title insurance should be on the good-faith estimate you receive from the lender.

Ellen Friedman, Keller Williams Realty
ellengfriedman@comcast.net
0 votes Thank Flag Link Sun Mar 10, 2013
Call the closing attorney. I'm surprised your lender hasn't provided this for you. Perhaps it's time to find a new mortgage person?
0 votes Thank Flag Link Sun Mar 10, 2013
He gave me an estimate of $7,000-$9,000, but I wanted a more specific number. I know I won't know the exact amount until closing day, but I would like a better estimate. He said it depends on what the title costs because that can vary.
Flag Sun Mar 10, 2013
I am just trying to get a rough estimate on my closing costs and already know the taxes and insurance. I just wanted to know who to contact to find out how much the title will cost at closing.
0 votes Thank Flag Link Sun Mar 10, 2013
Robert -- New Jersey is an attorney close state as well, however, an attorney has certain fiduciary duties to his client, the buyer, and among those are the duty to obey his clients instructions. So, if the client says, use THIS title insurance company, then the attorney has to do as instructed. I think, perhaps, we are confusing title insurance company and title agent, or attorney. In either case, whether we are discussing choosing an attorney or title closing agent, or a title insurance company, the decision ultimately lies with the client, the buyer.
0 votes Thank Flag Link Sun Mar 10, 2013
Not really in ma Suzanne. This is an attorney close state.
0 votes Thank Flag Link Sun Mar 10, 2013
Ultimately you choose the title company. Your realtor can recommend a company, or your mortgage lender, or even your attorney but ultimately the choice is yours.
0 votes Thank Flag Link Sun Mar 10, 2013
Closing attorney is the title agent and reviews title and issues title insurance. You can pick the closing attorney. Ask your lender or mortgage broker. If going through a small bank or credi union you may have no say.
0 votes Thank Flag Link Sun Mar 10, 2013
Thank you this was very helpful. The last house we purchased was in CT and things are done a little differently there.
Flag Sun Mar 10, 2013
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