SCHUTT LAW FIRM, P.A.
Phone: 239.540.7007
Real Estate
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:
http://www.stewart.com/en.html
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 heirshipProbate 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
03/08/2016

Tips for Finding the Right Home for You and How Title Insurance Near Cypress Lake Can Keep It Secure

Many first home buyers think that finding the right home will be like a dream come true, where all the searching happens seamlessly and the entire process is completed within a week. Unfortunately, for anybody who has purchased a home before, this really is just a dream. With all the help that Schutt Law - Title Insurance Agency has provided first-home buyers to secure their investment with competitive title insurance rates near Cypress Lake, for this post we have turned our efforts to providing you with some beneficial tips to help you find the right home for you.

How About Not Buying a House?

You read that correctly - have you thought about not buying a house and instead buying an apartment? While buying a home has always been the dream, many buyers find that apartment living suits them better and offers them more in-house amenities throughout an apartment building. We aren't saying it's going to be for you, but we are saying it's worth considering.

Amenities

Speaking of amenities, if you are confident that a house is for you then the surrounding amenities are going to be a big decider when choosing where your dream house is going to be located. Along with considering your daily routine and which type of stores and services you often use, consider what your life is going to be like and what you are likely to need in 20 to 30 years time, such as the following:
  • Access to school if you are looking to establish a family
  • Healthcare facilities
  • Social activities and options

Look for a Clean Title

Many first time home buyers often aren't aware of what a property's title can contain, let alone that one exists. Before you finalize the settlement, speak with a professional such as Schutt Law - Title Insurance Agency at 239 540 7007 and obtain a thorough title search to uncover any discrepancies that could affect the long-term ownership of your new home. Once completed, obtaining title insurance near Cypress Lake is often a smart move to ensuring your property remains just that - yours. With title insurance in effect, homeowners are provided with peace of mind that their ownership of the title won't be challenged and they are financially protected.

A Smart Location

We mentioned amenities earlier, however choosing the location also depends on another factor - ongoing costs. Changing suburbs is likely to affect your rates and your monthly insurance payments for not only your new home but for your car, boat, and personal insurance. Contact your respective agencies and the local council of prospective areas and obtain general quotes to help you understand where you can afford to live. Remember, buying a house is not a one-time financial affair, so do your best not to get caught out.

Transport

While you may not like to admit it, your workplace is likely to be the most visited address apart from your home, so make sure that it is easy for you to get to and from. If you're used to driving to and from work each day, try getting up a little earlier a few times and starting your journey from a select few neighborhoods. This can help you to gauge the travel time expectancy should you decide to move.

Public Transport

Speaking of transport, not all of your travel is going to be driving, so make sure you have options available. Be sure to see which public transport options are available and how convenient they are. If you have your heart set on a location however it's taking you too long to drive to and from work based on your trial mentioned above, public transport may provide a more convenient option. When it comes to a new house and public transport - make sure it's available and make sure it's convenient.

Use an Online Calculator to Get the Best Title Insurance Rates Near Cypress Lake

If you've followed the above then you will be well on your way to finding the right home for you. Once you've found it, make sure to be savvy and keep its ownership secure. Speak with Schutt Law - Title Insurance Agency at 239 540 7007 and ask about how title insurance near Cypress Lake can provide financial security and peace of mind when it comes to the ownership of your home title. Available only prior to settlement, title insurance near Cypress Lake is the best way to ensure your dream home remains your dream home and that the ownership isn't likely to be challenged.