Thursday, August 22, 2013

My advice in working with Fidelity National Title

Having heard of many other stories of Fidelity National Title other than mine they all have many things in common.

First, I believe all lenders require that title insurance be purchased.  And I believe that if there is a problem and you need to open a claim - there is a potential (probability) that there will be a problem with the coverage and the title insurance protecting your real estate investment.

If I were to use Fidelity National Title again (never) I would insist on sitting down with the most senior title officer available and I would go over every square inch of the preliminary title report.  I would record the conversation.  I would request copies of every public document mentioned in the preliminary title report and I would date stamp the day I received these and have the title officer sign and acknowledge that he/she gave them to me.  And whenever possible I would only communicate with both the escrow officer and the title officer in writing and I would keep a chronological copy of all communications.

In other words I would treat the escrow as the beginning of a potential lawsuit over some future error discovered in my title that is going to require me to file a claim with Fidelity National Title Insurance Company.

And although it was not my experience but others would advise that in the event your title needs to be defended in court  by Fidelity make sure that you are choosing your own attorney so that you are confident that they are representing you and your interests and not Fidelity National Title Insurance Company and their interests.