SCHUTT LAW FIRM, P.A.
Phone: 239.540.7007
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Home Closing 101
Do you know what to expect on closing day?
Most people don’t. And that can lead to some uneasiness. But help is here. The American Land Title Association, or ALTA, has created a website featuring information every homebuyer can use to help familiarize themselves with the closing process before walking into the closing
The Home Closing 101 Site
At Home Closing 101 you will find information you can use to prepare yourself for closing. The site covers topics such as title insurance, escrow fees and closing costs. So when the time comes to sign on the dotted line you’ll feel fully prepared.
Home Closing 101 is especially helpful for first time buyers. Buying a house is an exciting time and the more you know about the process, the more relaxed you’ll be going through it. Spend a little time on the site and you can walk through the home buying process, receiving explanations for each step and helpful hints on how to find the right people to help you on your journey to homeownership.
Click here to start learning about the home buying process.
What Is American Land Title Association (ALTA)?
Founded in 1907, ALTA is the national trade association and voice of the title insurance industry. ALTA members search, review and insure land titles to protect home buyers and mortgage lenders who invest in real estate.
ALTA members advocate safe and efficient transfer of real estate and insist on high standards when searching land title records and preparing insurance documents. The industry seeks to eliminate risk before insuring, which provides homebuyers with the best possible chance of avoiding land title problems. But, title difficulties can and do occur, and members offer both Owner’s and Lender’s title insurance policies as effective safeguards.
Click here to visit the ALTA website.
About Stewart Title Insurance
Stewart (NYSE: STC) is a leading provider of real estate services, including global residential and commercial title insurance, escrow and settlement services, lender services, underwriting, specialty insurance and other solutions that facilitate successful real estate transactions. Stewart offers personalized service, industry expertise and customized solutions for virtually any type of real estate transaction, through our direct operations, network of approved agencies and other companies within the Stewart family. Through a focus on integrity, smart growth and conservative management, Stewart remains committed to serving our customers, innovating and improving to meet their needs in an ever-changing market.
Please click on the link below for more information:
WHY TITLE INSURANCE?
Owning real estate is one of the most precious values of freedom in this country. You want the assurance that the property you are buying will be yours. Other than your mortgage holder, no one else should have any claims or restrictions against your home.
Title insurance is issued after a careful examination of the public records. But even the most thorough search cannot absolutely assure that no title faults are present, despite the knowledge and experience of professional title examiners. In addition to matters shown by public records, other title problems may exist that cannot be disclosed in a search. Title insurance eliminates any risks and losses caused by faults in title from an event that occurred before you owned the property.
Title insurance is different from other types of insurance in that it protects you, the insured, from a loss that may occur from matters or faults from the past. Other types of insurance such as auto, life, or health cover you against losses that may occur in the future. Title insurance does not protect against any future faults, but does protect you from risks or undiscovered interests. Another difference is that you pay a one-time premium for a policy that remains effective until the property is sold to a new owner - even if that doesn't occur for decades.
What is a Lender's Policy?
A lender's policy, also known as a loan policy or a mortgage policy, protects the lender against loss due to unknown title defects. It also protects the lender's interest from certain matters which may exist, but may not be known at the time of the sale.
This policy only protects the lender's interest. It does not protect the purchaser. That is why a real estate purchaser needs an owner's policy.
What is an owner's policy?
An owner's policy protects you, the purchaser, against a loss that may occur from a fault in the ownership or interest you have in the property. You should protect the equity in your new home with a title policy.
What does an owner's policy provide?
- Protection from financial loss due to demands that may be charged against the title to your home, up to the cost of the title policy.
- Payment of legal costs if the title insurer has to defend your title against a covered claim.
- Payment of successful claims against the title to your home covered by the policy, up to the cost of the policy.
Why the seller needs to provide title insurance?
Any purchaser will need evidence that his investment in your property is free of title defects. The title insurance policy that you provide the purchaser is a guarantee that you are selling a clear title to your real estate, unencumbered by any legal attachments that might limit or jeopardize ownership. It will reassure your purchaser that he or she is protected from any risks or losses and could help you close your deal.
Why the buyer needs title insurance?
Without title insurance, you may not be fully protected against errors in public records, hidden defects not disclosed by the public records, or mistakes in examination of the title. As a result, you may be held fully accountable for any prior liens, judgments or claims brought against your new property. If this should occur, your title policy insures that you will be defended at no cost against all covered claims up to the amount of the policy.
How much does title insurance cost?
The insurance commission approves and controls the premiums for title insurance policies. The premiums are paid only once and the cost depends upon the purchase price of the property and the policy amount must be equal to the purchase price.
What does title insurance protect from?
- Fraud
- Adverse possession
- Rights of divorced parties
- Deeds by minors
- Undisclosed Heirs
- Errors in tax records
- False affidavits of death or heirship
- Probate matters
- Deeds and wills by persons of unsound mind
- Conveyances by undisclosed divorced spouses
- Forfeitures of real property due to criminal acts
- Deeds by persons falsely representing their marital status
- Documents executed by a revoked or expired Power of Attorney
- Defective acknowledgements due to improper or expired notarization
- Mistakes and omissions resulting in improper abstracting
- Forged deeds, mortgages, wills, releases and other documents
- False impersonation of the true land owner
Discover essential energy efficiency tips for Florida homes to lower utility bills and stay comfortable in this post by Schutt Law in Fort Myers, FL.
Florida living offers sunshine and beautiful beaches, but it also brings intense heat and humidity. Keeping your home comfortable can be costly, but with these energy efficiency tips for Florida homes, you can significantly reduce your energy consumption and lower your utility bills. From simple DIY fixes to strategic upgrades, implementing these strategies will save you money and contribute to a more sustainable lifestyle.
Optimizing Your Air Conditioning System
One of the most significant energy drains in Florida homes is air conditioning. To maximize its efficiency, ensure your thermostat is set to the highest comfortable temperature. Every degree you raise it can save you significantly on cooling costs. Utilize ceiling fans to circulate air, allowing you to feel cooler at a higher thermostat setting. Remember that fans cool people, not rooms, so turn them off when you leave. Regular maintenance is also crucial. Clean or replace your AC filters monthly to ensure optimal airflow and efficiency. Schedule annual professional tune-ups to catch potential problems early and keep your unit running smoothly.
The Importance of Insulation and Sealing
Proper insulation is another cornerstone of energy efficiency. Ensure your attic, walls, and floors are adequately insulated to prevent heat from entering your home during the hot summer months and escaping during cooler periods. Consider upgrading to a higher R-value insulation to maximize its effectiveness. Seal any air leaks around windows, doors, and ductwork using caulk or weather stripping. These seemingly small gaps can let in significant amounts of hot, humid air, forcing your AC to work harder.
Are you considering a move to the Sunshine State? Navigating the real estate market requires careful attention to detail, especially when it comes to property titles. Partner with an experienced title company to ensure a smooth and secure transaction. Call Schutt Law in Fort Myers, FL, at (239) 540-7007 for expert guidance and peace of mind when buying or selling your Florida home.
Managing Solar Heat Gain Through Windows
Window treatments play a vital role in managing solar heat gain. During the hottest parts of the day, close blinds, curtains, or shutters to block direct sunlight. Consider installing energy-efficient window films that reduce heat transfer while still allowing natural light to enter. For even greater energy savings, explore options like solar screens or awnings that block sunlight before it even reaches your windows.
Landscaping for Energy Savings
Landscaping can also contribute to energy efficiency tips for Florida homes. Planting trees and shrubs around your home can provide shade, reducing the amount of direct sunlight hitting your walls and roof. Deciduous trees are particularly beneficial as they provide shade in the summer and lose their leaves in the winter, allowing sunlight to help warm your home during cooler months.
Thinking about selling your current Florida property? A clear and unencumbered title is essential for a successful sale. Protect your interests and ensure a hassle-free closing by working with a reputable title company. Contact Schutt Law in Fort Myers, FL today at (239) 540-7007 to discuss your title needs and ensure a smooth transaction.
Efficient Water Heating Practices
Water heating is another significant energy expense. Consider installing a tankless water heater for on-demand hot water, eliminating the energy wasted by constantly heating a large tank. Lowering the temperature setting on your water heater to 120°F (49°C) can also result in energy savings. Insulating your hot water tank and pipes can further reduce heat loss.
Simple Habits for Energy Conservation
Small changes in your daily habits can also add up to significant energy savings. Run major appliances like dishwashers and washing machines during off-peak hours. Air dry clothes whenever possible to avoid using the energy-intensive dryer. Unplug electronics and chargers when they're not in use, as even in standby mode, they consume electricity. Switch to energy-efficient LED lighting, which uses significantly less energy and lasts much longer than traditional incandescent bulbs.
By implementing these energy efficiency tips for Florida homes, you can create a more comfortable living environment while significantly reducing your energy bills and contributing to a greener future. Every small step makes a difference in conserving energy and saving money in the long run.
Ready to buy your dream home in Florida? Don't overlook the crucial step of securing a reliable title company to protect your investment. Schutt Law in Fort Myers, FL offers comprehensive title services to ensure a smooth and secure closing process. Call us today at (239) 540-7007 for expert assistance with your real estate transaction.
12601 New Brittany Blvd
Fort Myers, FL 33907
Phone: 239.540.7007
Fax: 239.791.1080
