Entitle Direct, the title industry’s only direct-to-consumer title insurance underwriter, released a new guide to help consumers understand the title process and services, called the
Smart Consumer’s Guide to Reducing Closing Costs.
Entitle released the Smart Consumer’s Guide as a layman’s bible for closing costs and a must-read for homebuyers or sellers. The guide defines each of the individual charges associated with the real estate closing process, including expensive hidden fees. For every charge, the Smart Consumer’s Guide explains whether or not that cost could be shopped, waived, negotiated or passed on to another party, all without the usual legalese. Entitle said Smart Consumer’s Guide will show consumers that many expensive closing costs can be mitigated. Tips in the guide include:
- Those looking to purchase or refinance should shop around for all items involved in the closing cost process. It’s important to keep sight of cost versus offering: it doesn’t always make sense to aim for what seems cheapest.
- Buyers or sellers should compare vendors to receive services for a far lower cost, including pricey fees for title insurance and settlement services, and negotiate other costs such as wire transfer fees.
- Buyers may get sellers to take on a good portion of the fees associated with the closing process or a percentage of the total closing costs. This option should always be considered when conducting overall negotiations with the seller.
“We published the Smart Consumer’s Guide because consumers should know what they’re paying for and not pay any more than they need to,” said Timothy Dwyer, chief executive officer of Entitle Direct Group and founder of Entitle Direct. “Many consumers don’t understand the magnitude of closing costs until the day of closing, when it’s entirely too late to reduce them. Further, many don’t know that these costs can be significantly reduced by shopping for these services.”
“Entitle Direct Group was founded in 2006 to help consumers take control of the mortgage process and save significantly on closing costs,” Dwyer said. “Entitle Direct supports true transparency in the real estate closing and financing process.”
The company states that its title insurance premiums are up to 35 percent lower than most competitors.
To take a look at the Smart Consumer’s Guide to Reducing Your Closing Costs, head to http://www.entitledirect.com/The_Smart_Consumers_Guide_to_Reducing_Closing_Costs