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02/11/2014
By: lonestranger
Titan Title & Closing
I gave this business two stars because they accomplished their mission. We closed on my house. However, considering the amount of money that went to this company at closing, you'd think they would treat their customers a little better. VERY POOR PEOPLE SKILLS. There was a little miscommunication between my realtor and the buyer's realtor-- and I don't blame Titan Title for this-- but after speaking with both parties and straightening things out, I got a lecture when I called Titan Title to give them an update! My closing agent read me the riot act about how neither the buyer nor the 'controlled' when a property closed, told me very condescendingly that it was her job to 'control' this, and that SHE would let ME know when the property could close (NOT the other way around!). It was a very hateful way to speak to somebody who was about to write her a check for thousands of dollars. Of course, after she spoke with the two realtors involved, the closing was scheduled for the same day that I'd told her we were planning on closing. Later, when I explained to her assistant that my wife was out-of-state and wouldn't be attending the closing, the assistant said that this 'shouldn't be a problem,' that she'd find out what documents needed my wife's signature, and that she'd get copies of this paperwork to my wife in time for her to sign and return them to us. This didn't happen. I actually reminded the assistant again a day or two later, and she said she'd take care of it. She didn't. In fact, two days before closing, when I told my closing agent that my wife still hadn't received any paperwork, I GOT THE HATEFUL TREATMENT AGAIN. She said, 'it would have been nice if somebody had told us that your wife wouldn't be here,' as if it were my fault, and when I explained that I had already had this conversation with her assistant twice, she flat-out accused my of lying and said that her assistant 'would NEVER tell a client that it wouldn't be a problem if only one spouse attended a property closing.' The implication was that I was lying because I'd neglected to tell anybody ahead of time, and was springing these details on Titan Title at the last possible moment. Needless to say, due to Titan Title's lack of organization, communication, and people skills, papers had to be overnighted to my wife, who had to run all over town to have them notarized and overnighted back to Tulsa so that we could close on time... and of course I was charged for the overnight delivery costs both ways... even though Titan Title had been informed of this situation WELL IN ADVANCE and should have taken care of things earlier. The bottom line is that I'm not a real estate professional and don't close on real estate very often, and I wouldn't exactly refuse to deal with Titan Title again, but I certainly wouldn't go out of my way to do business with this company again either. They did the job that they were paid to do, and they were pleasant during the closing, but they were rude and disorganized at every step leading up to that point. When somebody hands you a check for several thousand dollars to complete a business transaction for them, I don't think it's asking too much to follow up on the things that you agree to take care of-- or to be nice to the person who's footing the bill.
Tips & Advices
Lender's title insurance is designed to protect the interests of the mortgage lender, and it covers only the portion of the equity that is owned by the lender. Owner's title insurance is crafted to shield the interests of the homeowner, and it provides coverage for the homeowner's equity in the property.
Title insurance only covers claims and encumbrances that are already a matter of public record. Title insurance does not cover claims that haven't yet been recorded. Also, title insurance offers no guarantee that you are buying a legally created parcel of land that can be used for the purpose of real estate development.
A title defect is an obstruction that affects the ownership of a property. Liens, mortgages, and judgements are all title defects, and they can prevent a seller from legally offering full rights to a piece of property. A title defect can also take the form of improper wording of the title document or improper recording of the ownership or property forms.
If you have an owner's policy, your title insurance will never need to be renewed. However, if you refinance your home, the lender will require you to invest in a new lender's policy. A new lender's policy is required even if you are refinancing with the same lender with which the original purchase of the property was made.
With lender's title insurance, coverage lasts until the mortgage is paid in full. With owner's title insurance, coverage lasts for as long as the owner or the owner's heirs have interest in or ownership of the property that is covered.

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