Here are some of the questions that prospective clients often have:

What is title insurance?

The title to a piece of property is the evidence that the owner is in lawful possession of that property. Title insurance protects real estate owners and lenders against any property loss because of liens, encumbrances, or defects in the title to the property. Each title insurance policy is subject to specific terms, conditions, and exclusions.

What are the title insurance policy types?

The Owner’s Policy insures the new owner/home buyer, and a lender’s policy insures the priority of the lender’s security interest.

How does title insurance differ from other insurance?

A one-time premium paid for at the time of closing, insures against events that occurred in the real property and the people who owned it. This is unlike insurance for your car, life, health which protect against potential future events and is paid for with monthly or annual premium.

How much does title insurance cost?

The cost of title insurance varies based on the purchase price of the property. Unlike other insurance premiums which  must be paid annually, a title insurance premium is paid one time only at closing. The premium is figured based on the purchase price as follows: up to $100,000 equals $5.75 per thousand, over $100,000 equals $5.00 per thousand (ex. $100,000 = $575; $200,000 = $1,075).

Who pays for title insurance?

In Florida it varies per county and can be negotiated in the contract. the seller generally pays for title insurance and chooses the closing agent in most florida counties. the buyer generally pays for title insurance and chooses the closing agent in the following counties: Sarasota, Collier, Miami-Dade, Broward, and Monroe.