Depends on the state and how it's done. Ours is an attorney state not a title company state. Buyer also pays for the title insurance not seller.This could use explaining, seems contradictory.
Doesn't title insurance cover the transfer - previous owner(s) to new owner.
Does title insurance survive sale? (Later fault found, I get sued later, I go back down the chain, etc.)
If it does not survive, do the rebate 'unused'? (Seems this and the last are inversely complimentary.)
Does one just prove current Title Insurance on a refi?
The reason for the local bank is that they know the local laws and the fees. Otherwise the out of state banks just mention their fees and your 3rd party fees are a guess. Also when they screw up your loan, it's a lot easier to visit them in person than it is out of state. I did hear of a guy doing that once, had to drive through several states to visit the guy in person, that's how mad he was.""5. The rural agents from low cost of living states are the one to get, they will do refi even for California (maybe Hawaii too) living in Nebraska as long as they have a license, and everything over the phone. I have never, ever, met any agent in a refi, even the one 5 miles away from me. So why bother with a local bank?""
Funny you posted that PandaBear. I just refinanced, the best rate by far, was a broker in Nebraska. He gave me 2.25%. I wanted to stay with my current lender, Wells Fargo. They were over over 3 percent to refinance. I asked them to come close to the 2.25- they said the could not.