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:
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
If you're interested in buying a home but are unsure how taking this step can benefit you, Schutt Law in Fort Myers has some useful info for you. Check out these benefits of homeownership.

How Can You Benefit from Buying a Home?

Getting to the point where you can afford to buy a home can take a while. Once you're there, you may still feel intimidated by the financial responsibilities of being a homeowner. Below are some of the biggest benefits of owning a home to help you decide you're making the best choice for your future.

If you're buying a new home, you're not protected if you don't have title insurance in Fort Myers. To learn more about title insurance, contact the experts at Schutt Law. Give them a call at (239) 540-7007 to get your questions answered.

Build Your Wealth

Purchasing a home takes time because you will be required to have solid savings, including enough money for a downpayment. It can feel like you're throwing a lot of money into something, but buying a home has proven to be a solid investment in the long run. Since home values tend to increase over time, you have plenty to gain from owning a home. Your mortgage can take time to pay off, but this sort of wealth can be much more stable and valuable through time. In order for this investment to be a good one, you do have to make sure you purchase a home that fits your budget. You don't want to miss mortgage payments or struggle to make these because you can damage your credit or be miserable in your home.

Save More Than When Renting

As mentioned above, buying a home requires quite a bit of money upfront as well as taking out a loan in most cases. This may feel like a lot to spend and getting stuck paying off a loan may not sound like the most attractive offer. Even so, this is a smarter way to spend your money over renting. When you make your monthly mortgage payments, this money is going towards paying off the home and being the sole owner of it. You can look at each payment as giving you ownership of a little more of the home. On the contrary, making monthly rent payments on a rental property just gives you the right to live there another month. This money won't go towards owning the place ever, so not why invest it in something that you will eventually own?

Enjoy Some Tax Benefits

If money is a big concern when it comes to buying a home, keep in mind that purchasing a home can lead to some useful tax breaks. You can often deduct the interest paid on your mortgage as well as on your property taxes. This can lead to you getting a good sum of money back, which you can put back into your savings or even use to make some upgrades or pay off some other costs associated with moving. This can be a huge help at the start of your homeownership journey so don't ignore this option.

Be sure to purchase title insurance in Fort Myers to protect your investment. To learn all about the importance of title insurance, contact the friendly experts at Schutt Law at (239) 540-7007.

Personalize Your Home

One of the most exciting parts of owning a home is being able to personalize it. If you've ever rented a home, you know that you have to get permission from your landlord to do anything to the home. In some cases, a landlord may not even let you paint a wall for whatever reason. When you buy your own home, you don't have to answer to anyone when deciding to make these sorts of cosmetic changes. Of course, if you want to build or take on other sorts of large projects, you may have to get permits from the city, but this makes sense for your own safety. Other than that, you can personalize the home to suit your aesthetic and your needs.

Enjoy Stability Around Your Home

As a homeowner, there are other things you will no longer have to worry about that maybe caused you stress in the past. For example, you know what your mortgage payment will be every month as long as you have a fixed rate mortgage. You will also know how long you will have to makes these payments before the home is fully yours. When renting, you may worry how much your rent will increase each year, especially if you're on a tight budget. Similarly, you won't have to worry about your landlord terminating your contract or learning your landlord has sold their property, leaving you not knowing what the new landlord is planning. Owning a home will give you more stability and peace of mind, which can be great all around.

Protect your home investment with title insurance in Fort Myers. The title insurance experts at Schutt Law can answer all the questions you may have. Give them a call at (239) 540-7007 to get your questions answered.