Title Insurance companies in Florida investigate the title to a property at the time it changes ownership to identify any title issues and clear them up before the transfer takes place. Because of the work title agents do, real estate transactions are made transparent which gives buyers confidence in the transaction. Without transparency, risk would be too great for most real estate deals to ever be consummated. Title companies also issue a title insurance policy to protect against any claims on title that may arise in the future.
Having an efficient and accurate real property title verification system is one of the key principles contributing to the prosperity of the United States over the past 200 plus years. When you buy or sell your next property, remember that your title insurer is protecting not only your right to your property but also your freedom and liberty.
In Florida, an Owner’s Title Insurance Policy is typically paid for by the seller, however, these fees can be negotiated in a sales contract. If the seller pays for the owner’s title policy it is also typical for the seller to select the title agency.
A Lender’s Title Insurance policy is also part of your closing costs in a typical real estate transaction and will appear on a good faith estimate from your lender if you are financing a home. If you are selling a home, your Realtor will be able to give you an estimate of your closing costs to include title insurance.
What is title insurance?
It has been said many times that a picture is worth a thousand words, but sometimes a video, even a simplistic one, can be worth one hundred thousand words.
Here’s a quick, entertaining video that helps explain what title insurance is…