OWNER’S TITLE INSURANCE – YES, YOU NEED IT!
Q: What is title insurance and why do I need it?
A: You NEED and WANT title insurance. A title insurance policy protects you from losses from matters unknown that effect your ownership. Issues that may occur from title defects such as unknown heirs, forgery, liens, encumbrances, or unknown claims against the property at the time of purchase are insured. The policy becomes active the day you take ownership of the property, and coverage is retroactive to cover any title defects that may have occurred prior to that time. Title insurance is designed to cover the rights you bargained for in your contract.
Q: If my lender gets title insurance for its mortgage, why do I need a separate policy for myself?
A: Your Lender will require that you pay for the Lender’s Policy which covers the amount of your loan and the coverage decreases as the principal is decreased. Usually, the loan amount is less than the value of the property. It provides you absolutely NO protection of your ownership.
Q: What is owners coverage and what is the cost of title insurance?
A: An owners’ policy insures your ownership of the property free and clear of threats to your title such as those listed above. An owners’ policy is a one time charge generally collected at your closing on the property. There is no renewal as with other forms of property insurance. Your coverage continues as long as you own the property and will be transferred to your heirs in the event of your death. SEE THE MANY STEPS THE TITLE COMPANY PERFORMS IN ORDER TO DETERMINE CLEAR TITLE AND ISSUE YOUR POLICY. In the event of a bona fide title claim, your policy will cover the cost of defense as well as attorney’s fees . In Florida, the title premium is promulgated and the fee is based on the amount of the purchase . Call us (954) 763-3665 or email us today for a TITLE QUOTE.
Q: What if I have a problem? How do I file a claim?
A: If you discover an issue that you feel is a claim you should first contact the agent issuing the policy for explanation. If you continue to feel there is a valid claim the instructions for filing a claim are listed in the policy jacket and can be sent directly to the title insurance underwriter for review and consideration. You will then receive a response as to what action needs to be taken.
CLOSING AGENT – YOU HAVE A CHOICE, WORK WITH THE BEST!
HERITAGE TITLE INSURANCE AGENCY, INC., WITH OVER 45 YEARS IN BUSINESS, IS THE UNRIVALED EXPERT IN THE FIELD.
Q: What are your closing fees?
A: Since title insurance fees are regulated by the State of Florida, title insurance costs are mandated and are referred to as promulgated rate. Call us (954) 763-3665 or email us today for a TITLE QUOTE. In addition to the cost of a policy, Heritage Title Insurance Agency, Inc. charges a Settlement Fee, and Abstract Fee, and a Courier/Wire Fee to the Buyer. The buyer will be responsible for obtaining a survey, if required, and paying the fee at cost to a surveyor. There might also be charges for application fees, capital contributions to condominium/homeowners associations, and lender fees/costs. Charges to the Seller include municipal lien search at cost, association estoppel fee(s), if applicable, at cost, and special assessments, if applicable. Call us (954) 763-3665 or email us today for a CLOSING FEE SHEET. Closing fees vary based on a variety of factors, we will gladly discuss our fees as they relate to the terms of your purchase.
Q: Do I need to hire an attorney to represent me at closing?
A: NOT AT ALL. While attorneys can issue title insurance and act as settlement agents, the State of Florida licenses commercial title agents and agencies who issue title insurance and conduct closings – AND IT IS THEIR ONLY BUSINESS. Heritage Title Insurance Agency, Inc. provides the most experience with residential and commercial real estate transactions, both in depth of knowledge and familiarity with various lenders and their closing practices. Heritage Title Insurance Agency, Inc. requires significant continuing education of our title agents. Also, as a title agency, we are required to comply with monthly oversight of the agency by title underwriters and the State of Florida.
Q: What if you cannot come to one of your offices to close?
A: No problem, we can assign a mobile closer to meet your schedule and be available to come to a location of your choice anywhere in the United Sates.
Q: Do you handle re-finance transactions?
A: Yes, and have handled thousands of refinances over the years. Your owners title insurance policy will entitle you to a credit on the lenders policy you purchase for the refinance up to the face amount of the policy. NOTE: There is a significant discount available to you on a refinance. Call us today (clickable link to phone number) for a quote to obtain the discounted rate.
Q: I have heard lending requirements have changed. Is your office approved to work with my Lender?
A: Heritage Title Insurance Agency, Inc. has been approved to work with ALL Lenders. We have extensive expertise and training in all aspects of loan closings. No other company is able to provide the same service that Heritage Title Insurance Agency, Inc. provides. Remember, you have a choice in title agencies and closing agents – make the wise choice with Heritage Title Insurance Agency, Inc. Your properties are substantial investments and require protection. We are dedicated to ensuring your interests are protected by insuring the title of your residential or commercial property.
Call us (954) 763-3665 or Email us today for a TITLE QUOTE.