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
The movers will be the ones doing all the heavy lifting next time you move somewhere new. You can make their job easier and the move less stressful by following these tips.
Moving certainly is very stressful, as if finding a house wasn’t enough. Moving requires downsizing, many boxes, and a whole lot of running around. Although you do a lot of the job by packing all your stuff, the movers are the ones left with all the heavy lifting. Just think of all the houses they move in a single week, wouldn’t it be nice if you could give them a hand? You can help them out and not necessarily by carrying boxes, Schutt Law-Title Insurance Agency brings you this list of things you can do to make your movers’ job in Fort Myers, FL easier and more efficient.
Have Your Stuff Ready
The movers have a schedule to maintain, they probably have another home they need to get to later that day. You should have everything packed, taped, and labeled, basically, everything must be ready an hour before the movers are scheduled to arrive. They should be able to cross the door and get down to work immediately and not stand there waiting for you to finish up. Also, if you’re paying by the hour, all that extra wasted time raises your bill.Keep Your Valuables by Your Side
If there’s anything important you’re going to be using soon, don’t pack it! Daily or emergency medication, jewelry, important documents, passports, cash, and other valuables should be kept with you. Don't make the mistake of packing them and then in a panic stop the movers to retrieve them from their packed and sealed box. Get a lockable case or a clear plastic bag and bring it with you on moving day. Your title insurance papers for your new home should be in that box. Don’t have title insurance yet? Don’t way to long before getting your title insurance process started. Call Schutt Law- Title Insurance Agency, the most reliable agency in Fort Myers, at (239) 540-7007 to purchase your policy.Pack Carefully
Sometimes you just want to be done with packing so you just throw random stuff into different boxes, use a bit of tape and you’re done. Packing can be very overwhelming, but part of a smooth move to a new home is to be a careful packer. You should clearly label the contents of each box, especially if they’re fragile. The movers will try to take care of your stuff, but they’re not to blame if something happens because you did a shoddy packing job. Protect your glasses and crystal ware with paper or bubble wrap to keep them safe in their boxes. Use bubble wrap around sharp objects so they don’t cut through the box and harm someone. Don’t forget to label everything, go crazy with labels if you wish. Check out this article for more packing tips.Keep Your Children and Pets Out of the Way
Movers might enjoy the presence of children and pets in their free time, but they certainly don’t appreciate it when they’re running around amid boxes and moving furniture. It’s dangerous for everyone involved. Keep you kids away from rooms with high traffic, or better yet, organize a play date at their friend’s house. As for your pets, ask a friend to take care of them for the day or keep them in there kennel. Pets are much more sensitive to strangers and loud noises, so a move can be even more stressful for them.Respect the Price
When you hired your moving company you were already aware of the costs for their services. A successful move takes preparation and premeditation, all the conditions of the movers’ service is established on the contract you already signed. If you were going to negotiate the price, you should’ve done so before the movers arrived not when they got to your house.Don’t Hover
The movers know what they are doing. They know they must lift with their knees and they can read if a box is labeled “FRAGILE”. They don’t need you hovering over their every move, telling them what to do. Trust that you have made a good choice by hiring their moving company and that your belongings will arrive safely. If you feel anxious, label everything in extreme detail before the movers arrive.Be Available
The movers will need your signature before they can start their engines and leave to take your belongings to your new place or storage area. Without your signature they can’t move the truck If you have anywhere else to be or errands to run, be sure there’s an adult left at home to sign the paperwork.Before Your Move, Purchase Your Title Insurance in Fort Myers, FL
Right after your offer has been accepted you need to call Schutt Law-Title Insurance Agency to purchase your title insurance policy. After you get your policy, call your movers and get ready to live in your new home. To start your title insurance process just call (239) 540-7007.12601 New Brittany Blvd
Fort Myers, FL 33907
Phone: 239.540.7007
Fax: 239.791.1080
