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
Selling your home can turn into a long, difficult process. To prevent it from dragging on, make your online listing as complete as possible. To learn how to create a great listing, use these tips.
How to Create an Online Listing That Sells
When you're getting ready to sell your home, you may think this process will fly by. Even if you have a great home that is priced perfectly, it can still take some time to garner some interest. One great way to generate interest in your home is by creating an enticing online listing. To learn how to do this, continue reading.Post It on the Right Website
Where you post your home listing can make a huge difference when it comes to getting offers. In fact, choosing the right places to post your home can cut down the time you spend looking for buyers. Do your research before deciding what pages you want to use. Look for pages that look professional, that get a lot of traffic, and that have similar properties to what you're selling. It's also important to keep in mind that you can post your home multiple websites. You aren't limited to just one space, so don't leave it at just that.Share It With Your Circle
After posting your home on a website, there are plenty more ways to spread the word on your home for sale. It's a very good idea to share your post with friends and family. Even if they're not in the market for a new home, they may know someone else who is looking. An easy way to share your post is by posting it on your social media pages. This will make it easy for others to see your listing and share it with their own network.Let the Photos Speak
When posting anything online these days, it's obvious that the photos you use speak loudly. When selling a home, this is incredibly important. Avoid using dark photos of your home in your listing and only use flattering images. You want to present your home in the best way possible, so avoid photos that can make it look less appealing than it is. Use good lighting, find great angles, and make your home look as inviting as possible. If you don't think you're up for the challenge of taking your listing photos, you can always hire a professional to do it for you. This can be added cost of selling your home, but it can make a huge difference. Once you've found your dream home, be sure to purchase title insurance in Fort Myers. To learn all about the importance of title insurance, contact the friendly experts at Schutt Law at (239) 540-7007.Use the Right Keywords
Online postings will work better if you use the right words in captions and descriptions. No matter where you're posting your home listing, it's best to be descriptive and give shoppers the information they want. Important things to include in your listing are the price of the home, the number of bedrooms, the number of bathrooms, the square footage, and the location. If the place you've chosen to post your listing has fields for keywords, use this. These will usually come in handy when shoppers are filtering their searches. Don't forget to also think about your listing's title. Use words that are appealing and that will create interest.Include Contact Information
When you post your listing online, be sure to also include your contact information. This may sound like a silly thing to forget, but you'd be surprised how many sellers forget to include contact information in a post. This can make it extremely hard for buyers to find you and your home. It's also important that you pick up your phone and check your messages. Since buyers may be trying to contact you about your home, you don't want to miss their calls or ignore their messages.Highlight the Best Features
Finally, don't forget to highlight your home's best features. Set your home apart from the rest by letting buyers know what makes yours special. If you have a great backyard, new appliances, or anything else that may attract attention, highlight this in your home listing. Be competitive and don't be afraid to show buyers your home's best features.Purchase Title Insurance in Fort Myers
When you have your dream home in your sights, be sure to purchase title insurance in Fort Myers to protect your investment. 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.12601 New Brittany Blvd
Fort Myers, FL 33907
Phone: 239.540.7007
Fax: 239.791.1080
