Perhaps. This will depend on your geographical area. Some states, for example Texas and New Mexico, regulate fees so that they would be the same for just about any title company. Ny, Nj, Pennsylvania, Ohio, along with other states possess a single rate agenda for all carriers.
Other states don't regulate rates whatsoever, for example Georgia, Alabama, Washington, D.C., Hawaii, Indiana, Illinois, Oklahoma, West Virginia, and Massachusetts. If you live in a situation not mentioned, then you can examine the available title insurance carriers since the rate will often vary business to business.
Note: Under HUD settlement procedures rules, the vendor might not require, like a condition of sale, that title insurance be bought by the buyer from any particular title company. Looking at rates can be achieved by simply calling different companies.
If you let them know the acquisition price of the property, they should be in a position to quickly provide you with a fairly accurate estimate of the charges. If you opt together, make sure to get their estimate in writing.
Often the escrow company representative will draft two teams of closing instructions: preliminary and final. The preliminary provided to you soon after escrow is opened will estimate your settlement costs. The ultimate would be the actual figures (or not far from them) and you will be provided to you a minimum of 1 day before escrow closes, and they'll incorporate a HUD-1 form.
It is important that you understand that both teams of closing instructions are based on the purchase agreement that you signed. Since sometimes the relation to this agreement could be a few interpretation, it is extremely important that you look into the closing statements, particularly the preliminary agreement, to be certain they reflect the precise intent of the purchase agreement.
It isn't uncommon to have an escrow officer to misinterpret a phrase. If this sounds like done, and also you don't catch it in time, it might set you back hundreds otherwise thousands of dollars. Be skeptical of additional costs added in for example commissions and transaction fees.
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