New York Title Insurance and Your Closing Costs: The Hallmark Abstract Service Free App Spells it All Out!

MAKE YOUR PRODUCT EASIER TO BUY THAN YOUR COMPETITION, OR YOU WILL FIND YOUR CUSTOMERS BUYING FROM THEM, NOT YOU. - MARK CUBAN

Register for the Hallmark Abstract Service Title Insurance Bill App Here!

Check the App out, give us your opinion, and we will send you our Hallmark Abstract Service mask to protect your health, in addition to the work we do to protect your property!

At Hallmark Abstract Service our goal is to educate the New York State real estate buying public about...

• What title insurance is,
• How title insurance protects what may likely be a purchasers largest financial commitment of their life,
• What title insurance should cost and more importantly what some of the other fees involved should cost,
• And finally, the critical fact that any title insurance provider being considered needs to be vetted by the real estate buyer.

In reality, many who are buying commercial or residential real estate in New York may first hear about the title insurance, mortgage tax if relevant and other fees at the closing table when their attorney tells them to write a check.

Hallmark Abstract Service believes that the title insurance premium for a purchase and the other expenses involved should not be a closely-held secret, and in fact our firm has developed an extremely easy to use App (phone and online) that will tell you on seconds what many of your closing costs will be.

If your attorney is using a different title insurance provider that he/she is comfortable does a great job, the Hallmark Abstract Service App provides a 'second opinion' so that a buyer can go back and request that the title insurance firm being used lower their fees.

We feel comfortable saying this because Hallmark Abstract Service charges industry low amounts for the ancillary fees on a title bill, and we only include those that are absolutely necessary. On average we save the buyer between $500-$1,000 in closing costs!

We have made it easy to Register (30 seconds) for our App, it's Free to Download, Free to Use, and Priceless in the amount of Information that it will provide to any real estate buyer, attorney, real estate agent or mortgage broker in New York!

Register for the Hallmark Abstract Service Title Insurance Bill App Here!

The Need to Know!

At-the-end-of-the-day, most of us research and vet any professional we are going to use whether a body shop for our cars, home renovation firm, electrician and so on.

In many cases we may also seek referrals from people we trust.

Many clients of Hallmark Abstract Service have taken the time to visit our Google listing and left testimonials that you can read here.

In addition you can read any of the testimonials for the firm that have been left on Hallmark Abstract Service CEO Mike Haltman's LinkedIn profile here, https://www.dhirubhai.net/in/titleinsurancenewyork/.

Five Things To Be Aware Of When Buying Title Insurance

1. For Your Transaction, Compare Title Bills From More Than One Title Insurance Provider â€“ When you receive a copy of the title bill for your real estate transaction in New York, the title insurance premium being charged will be the same regardless of the company you choose to use (Note: in a mortgage refinance, make sure you are being charged at the reissue rate if your transaction qualifies for it)!

Many of the other charges that appear on the title bill, however, known as ‘junk’ or ancillary fees, can and will vary from firm-to-firm. Sometimes this variance can be in the many hundreds of dollars.

This, in addition to the other points below, is why the consumer should take a somewhat active role in the choice of the title insurance provider that is selected.

And when you’re comparing the ancillary or ‘junk’ fees on various title bills, Hallmark Abstract Service is proud that we charge among the lowest in the industry, feeling we are well compensated through a percentage share of the title insurance premium. Because of the fees being charged, our clients can save as much as $1,000 when comparing our title bill to those of some other companies in the marketplace.

Remember, our recommendation regardless of who is providing the title insurance, is to get a title bill from at least one other company in the marketplace for comparison purposes.

2. Know Who The Title Insurance Underwriter Is! â€“When you buy insurance, regardless of the type, it’s critical that if a claim is put in that the underwriter will have the financial ability to pay! Remember that the claims-paying ability of companies are not created equal! This is certainly the case with title insurance underwriters. Hallmark Abstract Service primarily uses Fidelity National Title Group, the best capitalized title insurance underwriter in the business.

3. What Is The Title Claims Experience Of The Firm Chosen To Provide The Title Insurance Policy? â€“ In the same way that all underwriters are not created equal, the firm actually doing the work to ensure a buyer will have good and clear title are not either! Don’t be afraid to ask questions as, once again, for most people this purchase will represent the largest one that they will make in their lives! Hallmark Abstract Service is proud that in our 10+ years in business we have not had a valid title claim!

4. Does The Title Company Chosen And/Or Anyone Involved In The Transaction Have An Affiliated Business Arrangement? â€“ Perhaps an uncomfortable question to ask, but you as the the consumer have the right to know and the firms involved have the obligation to tell! An Affiliated Business Arrangement or AfBA, ‘is an arrangement to share or refer business between two different companies involved in providing services in the closing of a real estate transaction. There may be ownership interest of a party in both the business referring out the service and the business receiving the referral.The practice is not illegal, but is regulated by RESPA to assure full disclosure to the consumer of any relationships where business is referred in this way.’ (Source)

You want your title insurance provider to solely be focused on protecting you, their client, and not considering a business arrangement with a third party. Hallmark Abstract Service has no affiliated business arrangements.

5. You As The Consumer Have The Right To Choose The Title Insurance Provider â€“ It’s entirely possible that you may not want to but, be aware, that if you do it is your right to choose!