Title Insurance in Central Florida
Title Insurance in Central Florida is as important as home owners insurance.
Title Insurance in Central Florida insures the Home Buyer for any title defects, mistakes, omissions, or fraud. Title insurance, which is rated like auto insurance, is only as good as the Title Company doing the review and the underwriter that is writing the policy.
It is common knowledge that many Florida Title Companies do not operate under a system of care that the buyer can rely on, so smart home buyers always choose their own title agent in order to avoid problems.
Title Insurance in Central Florida is a negotiable item in the contract
Whomever pays for the Title Insurance, controls which Title Company does the title work. The Home Buyer has the legal right to pay for and choose their own Title Company to scrutinize the title search, lien search, check for encroachments, verify the tax payments, make sure that the costs charged are accurate, the final figures are correct, that the title commitment does not dilute the buyers protection and most importantly that the liens that encumber the property are actually paid off. Buyers should consider paying for title insurance in Central Florida when writing an offer.
We recommend the buyer choose their own Attorney/Title company
Problems can occur when using the sellers or sellers agents preferred title agent …they have no interest to dig deep, find problems or solve issues for you. Their relationship is with the seller or sellers agent, not you the buyer so the Affiliate Title Company will never “rock the boat” for you.
Here are just a few actual problems that effect Title Insurance in Central Florida:
- Only a piece of the property was actually transferred: The Title Company, which was owned by the listing office, transferred only part of the property to the new buyer, even though the purchase contract clearly indicated that there were 2 parcels in the sale. It was discovered, that the driveway parcel was left with the seller who ironically was trying to sell that parcel to the neighbor.
- Liens against the property were not paid off. The payoff to the Home Owners association for back debt was $8,752, which was supposed to be paid directly to the HOA upon closing. Instead, the Sellers title agent said they sent the money to the seller’s attorney in another city who claimed he never received it. Meanwhile, the HOA is making the new buyer responsible for the deficit.
- Deed and Title commitment not sent to buyer. This was a Short Sale, with Title Insurance and closing provided by sellers attorney and title company. The Deed to the property and Title Commitment, typically received shortly after closing, was not provided to the buyer until 5 months after closing despite repeated requests to obtain the documents. To complicate matters, the office operates only on voicemail so no one bothers to answer the phone. In addition, it has been 8 months since closing and there still is no “release” from the first mortgage holder even agreeing to the short payoff…buyer is now hiring their own attorney.
Just like Home Buyers need their own Real Estate Agent to represent their best interest, home buyers also need to hire their own “reliable” Title Agent to make sure that the deed, title search, closing documents, proration’s, title commitment is accurate and that the previous liens and taxes are paid off.