Title insurance protects you against ownership claims against the property your are purchasing or against a lender who is lending on the property. A onetime premium paid at closing, provides protection to you and your heirs for as long as you own your property.
Title insurance also protects you from events that happened in the past, including fraud, heirs that suddenly appear claiming an interest from previous owners, or other claims by people or entities who may (unknown to you) have a right to the property.
Lenders do not consider title insurance optional. All lenders require on having their own policy separate from the owner’s policy. While a buyer purchasing for cash with no lender may purchase without a policy, it is very risky. Only an owner’s policy fully protects the buyer against title problems.
Title companies do all of their legal work prior to the closing. There is usually small title defects that exists on a property and are resolved by the title company prior to closing. If there are major issues, then they will be addressed prior to closing. The main job of a title company is to clear liens and title defects on the property.
A title insurance policy is your only 100% protection against title problems that may become known after you close on your transaction. For most a home is the most expensive investment a person makes and a title company makes sure that you and your lender if there is one is protected.
Title companies have standard rates throughout the State of Florida for title policies. The price varies greatly depending on If you are borrowing from a lender. Lenders charge to provide loans. A lender should also be able to provide you what is called a Good Faith Estimate. In regards to Title Fees, please go to our website tab that says "RATE CALCULATOR" to get an estimate. We work with great mortgage brokers who can provide you with estimates so you know exactly what the property will cost.
Yes. Our office is attorney owned and operated. Prior to signing your contract, we will review your contract and advise you as a buyer or a seller. We can't stress enough that one wrong checked box can cost you thousands of dollars. Too many times people get so excited to have a deal accepted that they sign and don't look a the details until it is too late.
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