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
Buying a house near the sea is an excellent investment opportunity and ideal property to enjoy the outdoors. Keep reading this post by Schutt Law in Fort Myers to find out the benefits of buying a house facing the sea.
When investing in houses facing the sea, there are several purchase options at your budget's disposal, from a luxury residence in an exclusive development to a bungalow or Mediterranean-style homes and housing options in cheap seaside towns. Thanks to this diversity of options, which suit all budgets and tastes, buying this type of property is easier than it seems. In addition, they can become an excellent investment project if you are interested in real estate and want to start a vacation rental business. Acquiring houses and condominiums located in touristy regions has become one of the best real estate projects you can find in the country's coastal areas. This guarantees you to have a grand residence with access to the beach and live comfortably. Next, Schutt Law shares the benefits of investing in houses near the sea while also looking for purchase options.
When investing in houses facing the sea, there are several purchase options at your budget's disposal, from a luxury residence in an exclusive development to a bungalow or Mediterranean-style homes and housing options in cheap seaside towns. Thanks to this diversity of options, which suit all budgets and tastes, buying this type of property is easier than it seems. In addition, they can become an excellent investment project if you are interested in real estate and want to start a vacation rental business. Acquiring houses and condominiums located in touristy regions has become one of the best real estate projects you can find in the country's coastal areas. This guarantees you to have a grand residence with access to the beach and live comfortably. Next, Schutt Law shares the benefits of investing in houses near the sea while also looking for purchase options.
To learn about title insurance's importance, talk to the title insurance authorities at Schutt Law in Fort Myers by calling (239) 540-7007. They will be happy to help you answer all your questions about this service while revealing more benefits of buying a house facing the sea.
What Advantages Do Houses Facing the Sea Offer?
They allow you to live in the most desirable destinations in the US coastal areas, recognized worldwide for having some of the best places to vacation and enjoy the beaches and the sea breeze. No doubt owning a residence facing the sea will make your days something unbeatable. Beachfront homes give you more than just beautiful views as they offer an alternative to invest and increase your wealth. They can always be the ideal destination for your next vacation or become your first step to entering the real estate rental market.They Inspire a Calmed and Relaxed Environment
One of the main reasons people look for houses near the sea is to enjoy wide spaces with high-quality designs. Many of these properties have a Caribbean decoration that favors an atmosphere of relaxation and comfort. Whether it's a house with two or more stories, you'll realize that the distribution of its spaces is designed to meet comfort standards. If you invest in a home facing the sea inside a housing development, you'll have additional services to improve your stay. Although a residential development is not exclusively reserved for families, many are ideal for large groups of people.Before you sign any papers, dial (239) 540-7007 to speak with an expert at Schutt Law in Fort Myers and inquire about the protection title insurance can provide for your ownership rights.
Some Homes Could Serve Multiple Purposes
Due to the spaciousness of these homes, they usually have more than two bedrooms, even with bedrooms on the ground floor, in which you can easily install more than one single bed or one double bed according to your taste. Like any other private property, you can find a variety of elements such as finishes, such as a solid wood-fitted kitchen and an extractor hood. Also, many houses have the main entrance and a separate entrance to rent rooms with bathrooms, thus turning their homes into perfect villas to receive tourists.These Houses Have Excellent Services and Amenities
Although having spectacular views, a large kitchen or a large terrace adds a lot to the property these are only some of the most apparent benefits of buying a house facing the sea as the services and amenities near the area are elements that attract potential buyers the most. Before acquiring a luxurious property, ensure that it has potable water, electricity in all its rooms and that the drainage works correctly in every bathroom. Once you confirm the essential services are in place, start thinking about amenities such as direct access to the beach, exclusive parking for you and your guests, private dock, pools or swimming pool, entrance to a golf course, and even a fitness center. Security and safety is a particularly crucial point, so it's also recommended that you look for places where they have surveillance booths, security cameras, or controlled access to the premises.Lastly,
With the new living conditions and some new building laws in several states, it may be possible that some houses have elements such as solar panels instead of a gas heater or some water catchment system. All these additions are ideal for houses in touristy areas because, in addition to increasing the property's capital gain, they help maintain the regions' ecosystems and their natural wonders.If you already own a house facing the sea, remodeling it can boost its market value but, don't overlook the benefits of having title insurance on this property! This service has your back when it comes to your ownership rights, so you can keep enjoying the benefits of buying a house facing the sea. So, if you'd want to know more, reach out to the specialists at Schutt Law in Fort Myers by calling (239) 540-7007 and let the experts handle your paperwork.
12601 New Brittany Blvd
Fort Myers, FL 33907
Phone: 239.540.7007
Fax: 239.791.1080
