It is common to think that if you are a good customer, you should get a discount. 

It is also pretty well known that if you refer someone you should also get a discount.  I bet you didn’t know that you can get a discount on your title insurance whether you are a frequent flier or not.  Let me tell you noobs how it’s done.

First off, find yourself a title company in your local area that you are familiar with.  If you don’t know one, call a mortgage broker or insurance agency and ask them who they work with on a regular basis.

Depending on the strategy of investing you are doing will determine the type of discount you can expect.  If you play your cards right, you may save yourself 100’s of dollars on your next title search!

If you are buying a home that you plan to keep for a long period of time, you may want to work with a real estate agents title company.  I can often get a discount on title, just for mentioning that I am working with a top 10 agent.  This is not always going to work, but it certainly is worth a try.

When I am buying any home, I will first check to see how recently the previous buyer had bought it.  If you can locate the title company they used, you can often times get what is called a re-issued title.  This is more prominent on homes sold within a year of your buying it, but can sometimes be issued from more than a year out.

Another great way to get a discount is to just ask.  Try and approach the title company that was used by the previous buyer and ask them for a title issue discount.  Most title companies are hesitant to offer a discount, but if you ask, they can sometimes accommodate.

If you happen to own a car (haha) or have multiple houses under the same insurance company, you may be able to ask your agent to give you a discount on your title insurance, provided your insurance company issues  title insurance.  I have actually seen some smaller insurance companies offer this type of service, so don’t be afraid to ask.

And finally – some of you noobs will eventually start flipping homes.  This is a good opportunity to ask the title company that you used when you purchased the property to hold the tile commitment open for a specific period of time.  This can sometimes allow you to transfer the title commitment to your buyer.  This needs to be done when you’re buying the home so you can negotiate this with the title company to allow you some time to sell the house before paying for title insurance.  This one takes some smooth talking, but it is done by savvy investors day in and out.

Now, go save some cash, noobs.  I know you need it.