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Frequently Asked Questions
Residential Title ServicesResidential Purchase ClosingsResidential Sale ClosingsRefinance ClosingsNew Construction ClosingsFor Sale By Owner (FSBO) ClosingsCash Transaction ClosingsCommercial Title ServicesCommercial Real Estate ClosingsCommercial RefinancingMulti-Property TransactionsInvestment Property Closings1031 Exchange Coordination
Title & Escrow ServicesTitle Searches & ExaminationsTitle Commitment PreparationTitle Insurance (Owner's & Lender's Policies)Escrow ServicesEarnest Money Deposit ManagementTitle Defect Resolution & Curative ServicesLien & Judgment SearchesClosing & Settlement ServicesClosing CoordinationDocument Preparation & ReviewSettlement Statement PreparationMobile & Remote ClosingsNotary ServicesWire Coordination & Secure Fund DisbursementRecording of Legal DocumentsAdditional ServicesDeed PreparationQuitclaim DeedsWarranty DeedsProperty Ownership TransfersProbate & Estate TransfersTrust TransfersLLC & Corporate Property Transfers
A title company serves as a neutral third party that helps ensure a real estate transaction is completed accurately, securely, and in accordance with the terms of the contract. Before closing, the title company conducts a thorough title search to verify legal ownership and identify any liens, judgments, or other issues that could affect the property's title. We coordinate with buyers, sellers, real estate agents, lenders, and attorneys, manage escrow funds, prepare closing documents, facilitate the closing, and issue title insurance to protect the parties from future ownership claims.
Title insurance is a one-time insurance policy that protects property owners and mortgage lenders against financial loss resulting from defects in a property's title that existed before the purchase. Unlike other types of insurance that protect against future events, title insurance safeguards you from past issues that may not have been discovered during the title search.Before closing, a title company performs a thorough examination of the property's public records to identify and resolve potential issues such as unpaid liens, recording errors, unknown heirs, fraud, forged documents, or ownership disputes. While most title problems are resolved before closing, some hidden defects may not become apparent until after the transaction is complete. Title insurance provides financial protection and legal defense if a covered claim arises.
In Florida, the party who selects and hires the title company is typically determined during contract negotiations and can vary by county and local custom. In many South Florida counties, including Miami-Dade, Broward, and Palm Beach, it is common for the seller to choose the title company, while in many other Florida counties, the buyer often makes the selection. In refinances, the owner/borrower chooses the title company. Regardless of who chooses the title company, our role remains the same—we act as a neutral settlement agent, working to ensure a smooth, efficient, and successful closing for everyone involved.Typically, the party that chooses the title company pays for the title insurance.
Certain factors will affect how much your title insurance policy will cost. These include the state in which property is located, the cost of the property and the type of transaction. Typically, fees are as follows:
$5.75 per thousand for up to $100,000 of liability
Additional $5.00 per thousand between $100,000 to $1,000,000 of liability
Additional $2.50 per thousand between $1,000,000 to $5,000,000 of liability
Additional $2.25 per thousand between $5,000,000 to $10,000,000 of liability
Additional $2.00 per thousand dollars over $10,000,000 of liability
Use our Title Quote feature at the bottom right of your screen to obtain an estimate which includes our closing costs.
For specificity, utilize this calculator: https://ratecalculator.fnf.com/
There are two types of title insurance: Owner's Title Insurance and Lender's Title Insurance. If you are financing your purchase with a mortgage, your lender will typically require a lender's policy to protect its financial interest in the property. An owner's policy is optional but highly recommended, as it protects your ownership rights and investment against covered title defects, such as undisclosed liens, errors in public records, fraud, or unknown ownership claims.Owner’s PolicyThe owner’s policy assures a purchaser that the title to the property is vested in that purchaser and that it is free from all defects, liens and encumbrances except those listed as exceptions in the policy or are excluded from the scope of the policy’s coverage. It also covers losses and damages suffered if the title is unmarketable. The policy also provides coverage for loss if there is no right of access to the land. Although these are the basic coverages, expanded forms of residential owner’s policies exist that cover additional items of loss.The liability limit of the owner’s policy is typically the purchase price paid for the property. As with other types of insurance, coverages can also be added or deleted with an endorsement. There are many forms of standard endorsements to cover a variety of common issues. Usually a custom in a particular state or county on this matter reflects in most local real estate contracts. One should inquire about the cost of title insurance before signing a real estate contract that provides that he pay for title charges. A real estate attorney, broker or loan officer can provide detailed information as to the price of title search and insurance before the real estate contract is signed. Title insurance coverage lasts as long as the insured retains an interest in the land insured and typically no additional premium is paid after the policy is issued.Lender’s PolicyThis is sometimes called a loan policy and it is issued only to mortgage lenders. Generally speaking, it follows the assignment of the mortgage loan, meaning that the policy benefits the purchaser of the loan if the loan is sold to another lending institution. For this reason, these policies greatly facilitate the sale of mortgages into the secondary market.
Yes, we have an experienced real estate attorney who works with our office and can provide legal representation and guidance in connection with your sale. The Title House can assist you throughout the sale of your property and works closely with the buyer's Closing Agent to coordinate all aspects of the closing process, including title work, escrow, payoff coordination, document preparation, and disbursement of funds to ensure a smooth and efficient transaction. If your transaction requires contract negotiation, legal advice, or a more detailed legal review, attorney services are available for a separate fee.
There are many different types of issues that could affect title. For example, if a fraudulent transfer of title to the property occurred prior to your ownership, this would result in a claim on title. Another example would be a bill that was not paid by prior owner and/or the title/closing agent during the transfer that later attaches as a lien to the property.
This depends on the details of the transaction but we will answer this as best we could.
Cash purchases typically close faster than the loan purchase transaction. This is because there aren't any lender requirements affecting the pace of the closing. Assuming a simple cash transactions on a property with no title issues, no mortgages, no HOA, a cash transaction may very well close within the week.
When a property possesses mortgages, a homeowner's association, or title issues, this could delay this timeframe depending on how long it takes the mortgage company, the HOA to provide documentation needed for closing. Clearing title issues can also delay closing time.
Loan transactions (including refinances) will close when the bank is ready to close. Some lenders can close within 2 weeks and other may take a month. Title's role in loan transactions is to make sure everything on the title side is ready so that we can close when the bank is ready. It is important to choose a diligent and reputable mortgage broker/lender.
There are many responsibilities and rights for residential landlords including the right to evict and to keep the property safe. Landlords must avoid discrimination and cannot treat tenants different based on things like gender, race, or age.
The laws surrounding landlord and tenant relationships are complex, so it’s crucial to seek the counsel of a real estate attorney to assist you.
A fully executed contract, first and foremost (or a title order in the case of a Refinance). Title will review this contract and create a plan based on the timeframes set forth in the contract. Upon review, the parties will receive a Real Estate Information Sheet setting forth the important deadlines and access to the portal. Title will perform title search, lien search on all transactions. Transactions may or may not require a survey (drawing of the property lines) and estoppels (tenant estoppel and/or association estoppels), all of which are ordered by title as well.
If Lender is involved, Title will provide the lender with necessary documents and when lender is getting toward the finish line, Title and Lender begin the balancing process (this is when Title and Lender share fees and check the other's calculations in an effort to reach a perfectly matched closing statement).
Title then provides the final closing statement to the parties for review. The Buyer/Lender need also send Title the funds to close and then Title will coordinate the closing for both parties.
Once all closing documents have been signed (and lender gives the okay to disburse if loan is involved), Title disburses the funds and provides fully executed copies of the documents to the parties.
Title then needs to reconcile and finalize the insurance policies. The original title insurance policies are sent to the Lender (if applicable) and the new owner a couple of within 2-3 weeks after closing.
Hiring an attorney before closing is not required, but some transactions may benefit from legal advice. As part of our closing services, we review contracts for completeness and to facilitate the transaction. If a matter requires legal interpretation, negotiation, or a more thorough legal review and analysis, our affiliated real estate attorney is available to provide legal representation for a separate fee.
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