As you build your Real Estate Investing Power Team you may want to have several questions that you ask each potential member. In some states they use a Title Insurance Company to close deals while in some states they use an Attorney to close deals. Some states use both. Most of these questions would probably apply in any case.
There is not an exact script to interview your Title Insurance Companies, but here are several questions you can consider asking your Title Insurance Company:
Questions to Ask a Title Company:
1. What type of coverage or policies do you provide?
2. How long have you been in business at this location?
3. What days of the week and hours are you normally open?
4. Can you accommodate a closing at another location?
5. Do you have flexible hours if I need a closing scheduled early or late in the day?
6. What other services do you provide?
7. Do you cut all checks from this location for everyone getting paid at closing?
8. If I sell a property can you wire the funds into my account rather than cut a check?
9. If I am going to purchase a property and then I already have a Buyer that wants to buy the property, can I close the same property in the same day? (a.k.a. the Double Close or Back to Back Closing)
10. How are Title Insurance Companies regulated and how is your company better than others in the area?
11. Have you had any successful claims paid out for claims against the title insurance you provided?
12. If I have a deadline for my contract to close, how fast can you provide insurance and get a transaction closed quickly?
13. Do I have to attend a closing in person or can I close a transaction without being there (remote closing)?
14. Do you have other offices in other states? If so which states and cities?
15. Can I get a discounted price for using your company regularly?
16. Can you provide me with a list of references? – Remember: Trust but Verify! Also a great way to find other investors in the area
17. Can I get an email and secondary number either cell phone number or office phone to contact you with further questions?
FINAL THOUGHTS
Building your Real Estate Power Team with the best members will make it easier for you to scale and operate your real estate business. The key is building a successful power team is to find the best qualified people available to help you build your real estate business. If you help your power team grow their business and make money by providing them with opportunities, then you will be working on building a successful business for yourself.
Real Estate Investing can be FUN and a Real Adventure! Live your life in the moment with no regrets! Believe and Achieve! – Joe Jurek
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