If you’re like most people, you probably don’t have a lot of experience in the complex world of commercial real estate. This unfamiliarity is quite common, which is why many people decide to lean on a professional to assist with the process. However, because of your unfamiliarity with commercial acquisition, you may also be unfamiliar with what you should be looking for in a title company to help navigate the process. In today’s blog, we share some qualities that you should look for in a title company.
What Sets A Great Title Company Apart From The Rest?
Not all title companies are the same, and choosing the right one to assist with your property acquisition can make all the difference. Here’s what you need to look for when determining who to hire as your title service company.
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Experience - As we alluded to in the introduction, you are probably not all that familiar with commercial real estate transactions and what needs to happen behind the scenes to facilitate a smooth transaction, but an experienced title company will be. Established in 1995, Commercial Partners has nearly 30 years of history and experience navigating straightforward and complex commercial real estate transactions. Look for an established and experienced firm to help facilitate your acquisition.
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Full Service - It’s oftentimes much simpler to work with one title company who can perform all the necessary services during a commercial acquisition. For example, Commercial Partners can provide title cleaning, title insurance, underwriting, escrow and earnest money management and more. Instead of working with multiple companies who can only provide some of the necessary services, consider syncing up with a full service title company.
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Lawyers On Standby - It’s not uncommon for title companies to employ licensed real estate attorneys on staff. When you’re negotiating and finalizing a major commercial purchase, it can provide peace of mind knowing that you have sharp legal minds in your corner and that things are being done by the books.
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Quality Reputation - Take a look on the web and see what others who have worked with this title company in the past are saying. If questions or concerns are being raised, do they appear to be handling them appropriately? Check review sites to see how any prospective title company is viewed by others who have employed them in the past.
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Trust Your Gut - Finally, take a meeting or a phone call with the title company and see how you feel during and after the call. If the process seems a bit disorganized or communication is lacking, consider looking elsewhere. Conversely, if you feel confident that the company has your best interests at heart and you are excited about the prospect of working with them to facilitate your commercial transaction, trust your gut. Take a first consultation and see how the meeting goes before committing or looking elsewhere.
We’re confident that we can check all the above boxes and more. If you’re looking for a title company in the greater Twin Cities area, look no further than the team at Commercial Partners. Give our team a call today at (612) 337-2470.