Why Every Florida Home Buyer Should Purchase Title Insurance

When you purchase a property, you get everything that comes with it – including liens and open permits that may be tied to it. To avoid buying a property with unknown problems, homeowners work with title insurance agents, who do a search of the property’s history. This reveals any issues that the new homeowner can potentially buy that will turn their investment into a burden. In general, a clear title gives homeowners the green light to buy a house. Even with a clear title, however, it is still recommended that homeowners buy title insurance in Coral Springs.

Can A Clean Title be Guaranteed?

Prior to closing, a certified title company, such as Expert Title, can perform a property title search on the home. This thorough search protects the future owner if any undiscovered issues surface after a loan closing. While a title search is an effective way to determine whether the home has financial encumbrances, as with everything in life, it provides no guarantee. Even if you work with an experienced title agent, there can be omissions, such as a beneficiary to the property that is unknown even to the seller.

A title search is still an effective solution and is strongly recommended. Savvy homeowners who do not want to take any chances will also buy title insurance to gain added protection. Therefore, if there are any liens, restrictions, or unpaid taxes on the property, the new homeowner will not inherit them. Furthermore, if someone steps forward several years after you purchase the home, claiming their right to it, the homeowner will not lose their investment.

Types of Title Insurance

There are two types of title insurance: lender’s insurance, which is also known as a loan policy. This protects the mortgage lender, as they will have a considerable interest in the loan. Lender’s insurance is a requirement if you take out a mortgage on a property. 

The second type of insurance is owner’s title insurance, which protects you, the homebuyer. You will only need to purchase it one time, but you are not required to buy it at all. It is likely that your home will be your greatest investment, and the owner’s title insurance protects that investment.

In general, both forms of title insurance cost approximately 0.5% to 1.0% of the property’s purchase price. Most homeowners can expect to pay around $1,000 to $4,000 for title insurance.

Working with the Right Title Company

To say that the closing process can be overwhelming is a bit of an understatement. The good news is you’re not alone. Our team of professionals will be available to assist you to ensure a clear title. During this time, you will receive countless forms and documents that are often laden with complex legal language. Our professionals are available to make sense of all paperwork you receive and review it to ensure no mistakes were made that can delay the process.

Our company was founded by two expert attorneys with almost 60 years of combined experience. We also have an impeccable staff of title agents in Coral Springs who are extremely familiar with closings and will listen to your needs to help you navigate this unfamiliar terrain. With our level of expertise, you can guarantee that you will be in good hands.

Contact Expert Title Company

Locally owned and operated by two experienced attorneys, we provide the most efficient and quality service to South Florida homebuyers. Since 2002, we have served individuals in Miami-Dade, Broward, and Palm Beach Counties. To protect your investment, contact Expert Title about title insurance in Coral Springs. Call (954) 570-5959 to get started.