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Do you have questions about title insurance? Are you confused about your responsibilities throughout the buying and selling process? Not sure why you need title insurance for your Florida real estate transaction? We’re here to help!
Below are frequently asked questions about title insurance, escrow, closing, notary services, issuing loan and owners policies, purchase, and refinance transactions. See below for answers to some common questions we receive about title companies.
Title Company FAQ’s
1. What does a Title company do?
Since a clean title is required for every real estate transaction, title companies complete a search on every transaction to check for claims or liens before a new title can be issued. Without title insurance, buyers could be liable for monies owed on the home long after closing.
There are many factors to consider when selecting a title insurance company. A good title company will coordinate the transaction efficiently and provide remarkable customer service.
2. How much should title insurance cost?
In the state of Florida, the charge is the same throughout the state. For example, rates are $5.75 per thousand up to $100,000 and $5.00 per thousand from $100,001 to $1,000,000.
3. What sets Atypical Title apart from other Title companies?
We aim to be “what’s in the name” ATYPICAL! The product is exactly the same no matter where you purchase it from, so what sets us apart is our dedication to the clients! We try to make the entire process enjoyable and be as invaluable as we can be. We strive to leave the client and real estate agent with that “great experience” feeling for years to come. Customers buy from us for our genuine added value to their experience!
4. What is Title Insurance?
There are 2 different types of Title insurance:
A Lenders Title Insurance policy protects the lender only. This is to protect their interest in the property if an issue should arise from someone having a legal claim against the home.
A Owners Title Insurance policy protects the Homeowner if someone tries to collect on a claim from before the Homeowner purchased it.
5. Who contacts the title insurance company?
In Broward County, the buyer typically contacts the title insurance. Here at Atypical Title, LLC we make the process simple. Send us a message online or give us a call at 321.622.2302. Our team will make the process as smooth as possible for you!
6. How long does the title process take?
After the closing transaction, it usually takes between 30-60 days to issue the Loan Title Policy & Owners Title Policy
7. Who pays title insurance?
In Broward County, the buyer typically contacts and pays the title insurance.
8. What does the title company need from the buyer?
Buyers should be prepared to bring 2 forms of ID to the closing. This can include a DL, Passport, Military ID, etc.
9. Why does a buyer or a lender need Florida title insurance?
When you purchase your new home, is it important to make sure that there are no problems with the home’s title and that the seller really owns the property? Problems with the title can arise and bring financial loss. A title search company and the one-time expense of title insurance can prevent this issue. That’s why it’s important to trust in a professional Florida title insurance like Atypical Title, LLC that understands the process and has years of experience helping buyers in Florida.
10. Are you locally owned and operated?
Yes! Atypical Title is a local Florida title insurance company in Broward County and is located in three locations: Melbourne Beach, Melbourne, and Ft. Lauderdale. It’s important to choose a local title company who knows the real estate laws in your area. Selecting the right title company will ensure you have someone working for you who will work in your best interest!
11. Do I Need Title Insurance?
Your lender will most likely require you to purchase title insurance unless you are paying for your home out of pocket. It’s advisable to purchase a policy to protect yourself as well. By doing so, you are protecting yourself from title defects that may give someone else a claim to your property.
12. Can I choose my own Florida title company?
Yes! You may choose any Florida title company you want. You don’t have to use a company selected by a real estate agent, builder, lender, or seller.
Florida Title Company in Ft. Lauderdale and Melbourne Beach
We offer a variety of searches that suit every need:
- Mortgage Liens
- Current Owners
- Judgment Liens
- Municipal Liens
- Utility Liens
Contact our Florida Title Company with Over 15 Years Experience
When choosing a title company, be sure to ask questions to make sure you’re comfortable. Also, check for local expertise, service standards, customer feedback and commitment to the community.
Do you still have questions about choosing a title insurance company? We’d love to help. Reach out any time via email at Info@AtypicalTitleLLC.com or give us a call at 321-622-2302. We look forward to speaking with you soon!