SCHUTT LAW FIRM, P.A.
Phone: 239.540.7007
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Schutt Law Firm, P.A. - Attorney Profile
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
If you're planning on selling a home, you're probably trying to come up with ideas to increase its appraisal so, the experts at Schutt Law in Fort Myers share a few secrets to do so in this post. Read on!
Clever buyers protect their rights to ownership with title insurance in Fort Myers, which requires the title of your property to be clear from inconsistencies or discrepancies. Speak with an expert at Schutt Law at (239) 540-7007 to arrange a thorough inspection of your title before you open your home to buyer scrutiny.
When trying to sell a property, it can be challenging to find the balance between getting the most out of your investment and having a price that is willing to be paid. For this reason, many times, one can ask oneself, "How much should I rent or sell my house for?" and "How can I increase the commercial value of my home?" In this article, Schutt Law's experts will explore these topics and provide you with a few ways to help you increase the commercial value of your home.Find What Differentiates Your House from the Others
Although it seems a little apparent, finding what makes your house different from the others is perhaps the most crucial thing when wanting to sell it. A buyer has a simple goal: to buy the best for the lowest possible price so, recognize what you can do to meet that demand. If there are other houses for sale in your neighborhood, you can compare them and determine how yours stands out. Do you have better sights than the others? Do you have an enormous garden? Is it better furnished or are these in better condition? All these things make your home unique, and you can use these qualities to your advantage when selling it.Take Care of the Aesthetics
Buyers know that the house they're looking at has the potential to become their home, so they want it to look good. Check the paint, floors, kitchen countertops, bathrooms, and see if they need renovations. For instance, although the buyers could paint the house after purchasing it, this is an inconvenience for them which may cause them to choose another. Likewise, if your home looks excellent and attractive from the moment you show it, the visitor can see it at its full potential from the very beginning. The garden is also essential. It doesn't have to be fancy, but it should look clean. It must be noted that the first impression is the most important, and if the garden has been neglected, although it may not be used as much, the odds are against you. If necessary, you can even change the soil and grass and plant shrubs or flowers.Home decor is essential to make a house look more appealing for potential buyers but, it won't be of much use if you don't protect your ownership rights. Are you familiar with title insurance in Fort Myers? This service can be highly beneficial if you want to protect your property, call (239) 540-7007 and reach out to Schutt Law to learn more!
Make Sure Everything Works as It Should, or Even Better
You must take care of the first impression and keep in mind that the client has to do the least amount of work possible after buying the house. Check electrical contacts, pipes, water taps, etc. Also, check the waterproofing of the walls. Many homes suffer from humidity, and removing it entirely can be very difficult and almost impossible. This is the moment to search for houses similar to yours and compare. Yours doesn't have to be perfect, just a little better than the others.Upgrade Your Home, Make It Smart
It can sound overwhelming to hear the word "smart home" because the term sounds complex, expensive, and challenging to implement. The reality is that this technology has been made much simpler and more affordable than you think. Today many gadgets work with Google Home, Alexa, or Apple Homekit. It's just about finding the devices and customize them, which is easy to do. Many things can be done smart.Things You Can Do Smart at Home
- Lights
- Electrical Contacts
- Television
- Light switches
- Irrigation
Implement Green Energy
In recent years, there has been an increase in demand for the use of renewable energy, whether it be including solar panels or sun boilers. These alternatives may be the most expensive, but they can make a difference. A tenant may be sold on the idea of paying less, or perhaps nothing, for electricity. This can be a very useful tactic to hook more potential buyers while ranking your home higher in value.Don't overlook title insurance and allow Schutt Law's experts to help you with all the paperwork that comes with these endeavors. Call them at (239) 540-7007 to learn more about title insurance in Fort Myers.
12601 New Brittany Blvd
Fort Myers, FL 33907
Phone: 239.540.7007
Fax: 239.791.1080
