Buying a House and Need a Title and Settlement Company?
Here’s What to Consider. Plus, a list of recommended firms. Rarely does someone begin the homebuying process knowing which title and settlement company they’d like to work with, says Nadia Nejaime, an agent at Compass. "Think about it: How often do people buy or sell property? In case you’re one of them, allow Mike Ridgway, the CEO of Community Title Network, to explain. Essentially, title and settlement companies fulfill two roles, he says: "One is making sure that the buyer gets a clear title from the seller and that it doesn’t have any lien or claims on it.
The other role is service. Still, even with a basic understanding of the practice, figuring out how companies differ can be confusing. "I always tell my clients there’s nothing intuitive about this," says Nejaime. That’s why buyers usually just ask their agents for recommendations.
‘Well, who do you like the best? While agent suggestions can be a great starting point, they’re not the be-all and end-all, says Rob Rothstein, the president of Paragon Title: "Consumers should feel good about trusting their agents, but they should do their own research, too.