Relax…
buying a home was never easier.
Buying a home can be an exciting and nerve-wracking time. All Property Title is here to help you through the process and help make it a painless process. Here are some things you need to know when buying a home in Broward County.
Title
A title can be defined as the right to a particular piece of real estate. In other words, it represents ownership of that property. The property’s ownership along with all rights and obligations that come with it get recorded in the deed, which is filed as a public record with the appropriate government agency.
The title or escrow company will search the title of a property before you buy it. This search determines the history of the property’s ownership and ensures that there are no restrictions on the property like easements, encroachments, liens or defects.
What is title insurance and do you need it?
A title company will work to clear any issues uncovered during the search. A title can be covered by title insurance once it is clear.
Title insurance protects from financial loss due to title defects or liens against the property. If a property’s ownership has been transferred several times, there could be a hidden title issue that might pose a problem for the present owner or lender.
Your lender will typically require that you pay for title insurance to protect their interest.
What to Expect When Closing
Your title company’s role in closing your real estate purchase is pivotal. Here’s a look at that role and what to anticipate.
What Title Companies Do
Once the buyer and seller agree on a price, the title company takes over and acts as an intermediary. They handle the legal records and finalize the transaction.
About Closing/Settlement
The last step in the property’s sale is called closing or settlement. Closing day is when the buyer reviews and signs the closing disclosure along with documents from the title company when applicable. The closing takes place during a meeting with a signing agent. During this meeting, the buyer transfers money to the seller and ownership is transferred from seller to buyer. The closing date is usually set when the buyer and seller agree on the offer price.
Attendance at closing is not compulsory for sellers, but they should be available to sign documents.
The Buyer’s Responsibilities at Closing
On the closing date, the homebuyer should:
· Be Present at the Closing
The signing agent will be present to provide guidance through the process. The seller’s and buyer’s real estate agents and the seller might be present as well.
· Sign Documents
The buyer’s signing agent will show them which documents they need to sign, and a closing specialist will answer any questions. The signing agent will also notarize and review the buyer’s signature.
· Celebrate Closing
The buyer will be notified upon approval of all the documentation so that they can celebrate being a homeowner.
How You Will Benefit
We are committed to providing superior service: We will update you on your transaction throughout the process to ensure that you close on time with no hiccups.
Simplified options for deposits: You can mail, wire or deposit your earnest money to our escrow account.
Manage transactions online: You can complete and sign most of your documents online with no printing or scanning necessary.
Convenient closing/settlement locations: Our network of closing locations ensures that the process is quick and comfortable. Snacks will be available along with Wi-Fi. Parking will also be free in most cases.
Superior value: We offer an excellent, competitively priced service. We also ensure that you get the title policy discounts for which you qualify — like a reissue rate — without needing to request them.
Closing specialists with experience: All our closing specialists have legal, real estate and title backgrounds in addition to having closed on thousands of homes.
When it comes to buying or selling real estate, there are many difficult decisions to be made. Selecting a title company should not be one of them.
All Property Title and Escrow is an attorney-owned title company with over 20 years of experience in handling all aspects of residential and commercial real estate transactions. We pride ourselves on our reputation for providing quality real estate, legal and title services at a reasonable rate.
Our knowledgeable and dedicated staff will personally assist you through the process. We can help you with:
- Mobile closings
- Hand-held service
- After hour availability
- Low closing costs
