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
Are you a real estate professional? Or, are you about to sell your house? Read this post by Schutt Law in Fort Myers and take advantage of technology and social media benefits to close the sale.
Using the right tools will help you close the sale quicker. Reach out to Schutt Law in Fort Myers, and their experts will be happy to show you the ropes. Call (239) 540-7007 and let them advise you on how to protect your investment.
Sell a House Online
The internet has managed to simplify people's lives, making daily pursuits easier. School, work, and socialization activities have continued to develop through the internet and technological means. The real estate industry hasn't been left behind, with the rising popularity of digital portals being the leading search engine for property acquisition.Internet Sales Have Been Increasing
Today, you can find whatever you are looking for and purchase it in one click. This has forced sellers to improve their advertising tools and use new techniques to sell and rent real estate. The main goal is to develop attractive ads that stand out from the wide competition to facilitate the buyer's decision-making. Follow these tips to know how to sell a house online, attract competition, and reach the ideal audience for your product and close the sale.Take Care of the Perception of the House
If you choose to advertise the home online, make sure you keep the property in good condition. This is, indeed, the most critical advice for selling a house in general. Remember that the first hook to attract customers will always be the image. Decorating the home and implementing sample furniture, details, and anything is suggested to increase its appeal. Again, the property must be impeccable, neat, and decorated so that the spaces look more extensive and more comfortable to attract the public's attention.Don't Overlook the Importance of Audiovisual Material
The quality of the photographs and videos is crucial to close the sale quicker. Please make sure these are taken at a convenient angle and try to capture as much of the property as possible, highlighting the most beautiful parts of it. In this case, if you are looking for your photographs to be perfect, please rely on a professional real estate photographer to achieve incredible results and have a better reach. Or, find out about the best real estate photography tips that are easy to put into practice and do it yourself. Also, try to feature those amenities that could appeal to a specific type of public. For example, you could simulate a study area in one of the rooms, considering this is a prevalent factor nowadays for studying or working from home. If your home is within a subdivision, you can include the many common spaces and amenities it offers, such as parks with games, courts, pools, or gyms. This will undoubtedly attract the attention of potential clients.Don't forget the importance of getting title insurance to shield your ownership rights. Call (239) 540-7007 to contact Schutt Law in Fort Myers and help you handle the paperwork.
Be Creative
One of the fundamental tips on how to sell a house online is to use titles that are easy to notice. More often than not, people find headlines that say "Nice house for sale" or "excellent investment opportunity," which, despite not being a bad thing, comes off as repetitive, generic, doesn't add value, and won't help you stand out from the competition. Try to use a text that highlights the characteristics that differentiate your property from others. For example, if it's spacious, try to use the adjective "wide." Don't forget to include the amenities that other properties may not have in the headline, for example, roof garden, garden with pool, etc. Likewise, it's advisable to describe each part that makes up the house in an engaging way. Do so with happy and convincing language. Write it in such a way that you feel that you are offering a virtual and enjoyable experience.Stay Tuned for Doubts and Clarifications
When selling a house online, you will have many interested parties at any time since people enter the search as soon as they are vacant or have time on their hands. Therefore, although the internet is an accessible medium and simplifies the selling process, it'll be necessary for you to check and respond to all messages to close the sale faster. So, keep an eye on the messages and always respond with attention and kindness to the potential client's doubts.If you're ready to be a homeowner, know you can rely on the pros at Schutt Law in Fort Myers. Call (239) 540-7007 to get the best title services at your disposal.
12601 New Brittany Blvd
Fort Myers, FL 33907
Phone: 239.540.7007
Fax: 239.791.1080
