Entitle Direct Launches In Virginia

Virginia homebuyers can now purchase their title insurance directly, thanks to the launch of Entitle Direct.

The Web site became available to Virginia consumers Sept. 24 and now gives homebuyers the ability to better monitor their real estate closing and purchase title insurance directly, rather than through a realtor, agent or lender. According to the company, on average, realtors, lenders and agents take a commission that is 70 to 90 percent of the premium and buying title insurance directly from Entitle Direct can save consumers 35 percent.

In an effort to be better stewards of the home-buying process, the Web site also allows consumers to monitor their closing through the Control Panel, which gives users the ability to upload and store closing documents and download a HUD-1 in real time.

President and CEO of Entitle Direct Group Timothy Dwyer said he hopes to offer Virginia homebuyers a savings they may not be aware of, as well as open their eyes during the real estate process.

"Consumers are completely in the dark when they go to their home closing," Dwyer said. "I personally a couple of times felt like a child when I went to my closing. I was offended that when we went to our own home closing we saw documents for the very first time, checks I had to write for the very first time. I felt a lot of pressure.

"Frankly that's what gave rise to Entitle. I thought 'there's a better way to do this for consumers.'"

In addition to the Web site, Entitle also has a specialist center based in Pittsburgh, PA, where consumers can reach a specialist by phone. Specialists are available to walk consumers through the title-buying and home-closing process and keep them informed of all costs and steps along the way. Despite not being to sit face to face with a specialist, Dwyer believes that many consumers will make the choice to save money on their title insurance.

"There are going to be a number of Virginians who would rather go to a traditional title agent and pay 50 percent more than our rate. What we're offering consumers across the country is a choice," Dwyer said. "We are expecting that realtors and lenders will embrace Entitle Direct and recommend it to their clients because we will save their clients significant money. In this economic environment where every dime counts we believe that realtors look for a competitive edge. A smart realtor that seeks to go the extra mile is going to look really good and get more business as a result because they're putting their clients' interest first."

In addition, by storing closing documents on Entitle Direct, consumers are assured of future title savings every time they refinance. To access the Web site, visit www.entitledirect.com.