Title Insurance Costs: Why You Should Choose Quality Over Price

You’ve undoubtedly heard the phrase, “You get what you pay for.” Maybe you’ve even heard “Cheap, Quick, Quality. Choose two.” The point behind both sayings is that discount services are that for a reason.

Think about food for a moment. Imagine standing in front of a food cart and the vendor telling you his hot dogs cost one dime. Will you buy twelve of them, take them back to your office, and proclaim lunch is on you? Or will you continue walking, wondering what on earth could be in those hot dogs that he’s charging ten cents each for?

A ten cent hot dog probably would’ve turned your stomach a little bit. Maybe it would’ve made you question the vendor, at least in your mind.

The same can be said for other kinds of services. A quick study of economics tells you that a free market has a way of balancing out the price of goods and services. There’s a ball park you’ll find most companies operate in. There are highs and lows but there’s still a general range. If you go out of the ballpark, you do so at your own risk.

Remember the ten cent hot dog?

Title companies that will discount their services greatly, thus placing themselves out of the range or ball park that most title companies operate in, are probably ten cent hot dog vendors. You’re not quite sure what’s behind their operation, or why they’re charging so little, that they can’t even cover operating costs. Are they bad business people or are they serving something that’s going to have a bad effect on you?

Will You Risk Your Home on a Ten Cent Dog?

If you decide to risk it and eat a ten cent hot dog, the worst that could probably happen is hospitalization for food poisoning. If you have a bad title company, you’ve lost your home.

What are You Paying For?

When you’re selecting a title company, you’re paying for more than just a hot dog. You want to be assured the title company you’ve selected has the know-how and experience to conduct their searches with accuracy and process the needed paperwork in a manner that means you close on the day promised.

If you choose a discount solution, you’re placing a lot on a company who undervalues its own product.

What’s Behind a Discounted Product

Often people discount a product to get people in the door, because they don’t know their own value, or because they are not independent companies. When a title company is owned by a law office, lender, underwriter, real estate firm, builder or other third-party, they may be cheaper but your best interests aren’t their interests.

Now what is that discount worth to you?

Bay National Title Company is an independent title company specializing in first-class customer service. We aim to make your closing experience flawless and one you’ll remember. Contact us today to experience the BNTC difference or go ahead… and try that ten cent hot dog.