The Importance of Florida Title Insurance
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Posted by Javier Cubas
- Posted in Property Title Insurance
The Importance of Florida Title Insurance
A first step to get a cheaper property insurance, although it may seem obvious, its good to highlight: do not accept immediately the insurance company and the plan that your lender offers you. Usually, insurance companies work separately in these instances, both from the seller and the lender. So do not wait until the end of the transaction to find a Florida title insurance company but rather do it from the beginning.
You might be wondering what title insurance do or what is it’s significance to you. A Florida title insurance for one checks if the person you are buying the property from is the real owner. Before you close the deal for good it is best to make sure that the document being transferred to your name is authentic. Title insurance also will give you the title of the property’s history. You will know how the title came into the hands of the seller.
Title search will also give you valuable information about the property you are buying, like land area and other useful information.
Depending on what Florida title insurance package you choose, it can also show you evidences that all encumbrances have been settled or paid off. What is important is that title insurance will check the authenticity of the document, if there are no signature forge have been done and if all information from past to present have been recorded properly.
The lender will also benefit from the title insurance because this will enable them to see if there are any issues that are attached on the house. One example of this kind of issues is when you are buying a property and the owner went into a divorce and part of the divorce settlement is to have the property given to the other spouse, but your transaction is not with that spouse. Florida title insurance will reveal if there are any access rights to the property that can either raise or lower the value of the property. In order to make it clear, this includes if you have private access to the beach, or if other people needs to access your property in order to gain access to the public part of the beach. This kind of information is also important for the lender.
A lot of times the buyer is the one that will shoulder the fee for the title insurance but you can also try and negotiate with the seller to split the fee.
A lot of people try to question every single item in order to reduce the upfront payment that needs to be paid. If you are really serious on making sure that the property you buy is clean and good then invest on having a Florida title insurance. You need to realize that you are making a big financial commitment and is spending a big amount of money. The last thing that you need after purchasing the property is to find out that you are obliged to share the property with someone or the title and other documents that you have is fake.
Are You Looking For Title Insurance or Closing Services?
Nationwide Title Agency has been providing title services throughout Florida since 2006. Our level of passion about title which is unmatched in the industry. Our highly skilled staff are always committed to ensuring the success of every transaction we do, in South Florida, nationally and internationally. In addition, our strong relationships with many of the nation’s top underwriters give us the flexibility and our clients every advantage. Call us today for a title inquiry at 954-755-8210 or click here for a title quote request.
