SCHUTT LAW FIRM, P.A.
Phone: 239.540.7007
YOU ARE HERE: HOME / REAL ESTATE
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 home is a goal that appeals to anyone who aspires to acquire assets. For that reason, Schutt Law in Fort Myers shares their insight on prefabricated houses to determine if investing and living in one is safe.
Getting title insurance is not an outrageous choice to protect your ownership rights. If you'd like to know more, reach out to the experts at Schutt Law in Fort Myers by calling (239) 540-7007 and let them handle your purchase of title insurance.
Know Your Options
There's the dichotomy between buying land and starting the construction of your future home from scratch or sparing yourself from this process by opting for a prefabricated house. It would be best to consider the advantages of a prefabricated house and the cons; however, you should pay more attention to the materials that these houses are made of to make a safe investment and feel secure once you're settling in the property.What Are Prefabricated Houses Made Of?
Concrete
This is one of the materials that prefabricated houses are made of, and it consists of a mixture of different materials, such as cement, sand, and stones; It's often used as a reinforcement compound alongside steel. This mixture is usually used to build large structures such as bridges, stadiums, and homes. It's one of the most used materials due to its malleability and the advantage of its rapid drying. It's a mix of sand, cement, and gravel; to use it, you only need to add water. Concrete is ideal for construction due to its thermal properties, which is a significant advantage in harsh weather conditions. Plus, you will save on maintenance over time. Besides, it's easy to add any finish or texture to the concrete before it dries; it easily adapts to each client's needs. You'll see that among the advantages of this material are:- Extensive techniques for construction, correction, and modification.
- Its long-lasting characteristics.
- It doesn't heat up when manufactured.
Wood
Like steel, wood is usually one of the most used materials to build houses, though it's worth mentioning these structures are more common in the United States or Canada. Wood is a light material with good support and is excellent at providing warmth in low temperatures. It's also often used for constructions surrounded by nature, such as forests. The advantages of prefabricated houses made of wood are:- They are inexpensive to make, so their sale is cheaper than those other houses constructed with other materials.
- It's an insulating material that facilitates energy saving in the long run.
- Houses made of this material are more aesthetically pleasing to the eye.
- The wood is treated with fire retardant substances to protect them in case of fire.
If you want to know more about the importance of having title insurance, contact the title insurance experts at Schutt Law in Fort Myers at (239) 540-7007. They will be glad to guide you and answer your questions concerning this service.
Steel
If you've ever wondered what prefabricated houses are made of, you've probably heard that they are made of steel, but what is steel exactly? To sum it up, it's an alloy of iron, carbon, zinc, silicon, and aluminum, among other elements. Steel is the material that's primarily used in prefabricated houses because it provides structure, strength, and stability to the building. You can expect the following advantages of this material:- Lasting uniformity and elasticity
- Resists large deformations without failing due to high tensile stressors.
- It's incredibly adaptable if you'd like to make possible extensions in the house.
- Steel also can join several materials quickly using welding and bolts.
- It's easy to install and assemble.
PVC
This is a type of material that's derived from plastic and is often used for housing construction. It has the attribute of being light but quite resistant at the same time. In addition, it has excellent thermal insulation and will come in handy to regulate temperatures under extreme weather conditions. Due to the use of prefabricated blocks, this type of housing is usually manufactured more quickly. In addition to being the type of plastic that it's least dependent on oil. Also, when it comes to housing developments, this material is usually present in the pipe for potable water and evacuation ducts, in the construction of windows, doors, shutters, sheets for waterproofing roofs, coatings, floors, and electrical conduit, among others. The characteristics of this material are- It's a light, resistant, and harmless material.
- It has good fire behavior since it doesn't spread the flame nor catch fire quickly.
- It's waterproof, insulating, thermal, electrical, and extreme weather resistant.
- It has high transparency.
- It's recyclable.
Are Manufactured Homes Safe?
Yes! As long as you research the construction materials, age, and the developer's reputation. Also, don't forget there are defects or aspects you must take care of and maintain. Ensure the base, foundations, thermal insulation, energy efficiency, and diversity of materials guarantee proper living conditions before you close the deal.Now you know what prefabricated houses are made of; your investment will be safe if you pay attention to details and protect your ownership rights. For that, you can call Schutt Law in Fort Myers to clarify all your title insurance doubts. Dial (239) 540-7007 or send an email to glenysh@schuttlaw.com if you're curious about this service.
12601 New Brittany Blvd
Fort Myers, FL 33907
Phone: 239.540.7007
Fax: 239.791.1080
