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
How to Make the Move Into Your Dream Home a Dream
After an extensive amount of time searching, researching and negotiating, you've finally found your dream home and the process has begun to secure your property and arrange for settlement. And while this can be a relaxing time for some soon-to-be homeowners after a period of stress, for savvy homebuyers, it's the time to get ready to move. If you are looking to take advantage of this time to get ready for your move but you aren't sure where to start, then you've come to the right lace. With experiencing helping homeowners just like yourself secure their dream home with the best title insurance rates in Villas, Schutt Law - Title Insurance Agency has an article full of tips to helping you plan for a smooth move.Time to Reduce
Whether you're moving into a smaller house where you simply can't take everything which you've accumulated or you're simply looking for new memories to create in a new home, moving is the best time to get rid of items which you may no longer need or even want. Take some time to give everything a second think when moving through your home and packing your items. If you haven't used it in the past three months, it's likely it doesn't have a place in your new home.Over-Book Your Movers
Hiring a professional moving company is almost always a good idea, especially when precious and fragile items are involved, however, they can also be costly. What many homeowners aren't aware of, however, is that the majority of their fees are due to owners booking less time than is required. When a mover takes on a job, they plan the rest of the day and other jobs around it. If yours takes longer than you booked, they need to cancel the next job, passing this cost on to you.Stay Organized
Arrange to have your empty boxes delivered a week earlier and place large stickers on them with a room number and room name. Attach a list to these boxes which include every item you place in it. If possible, keep a digital copy of these lists which can allow you to easily search through your boxes in the event you need an item prior to your move. Before you move, visit your new home and place corresponding stickers on the doors to help the movers identify where each box needs to go.Get Competitive Title Insurance Rates Prior to Your Settlement
With the excitement of finding a new home and the hassle of moving, many homeowners fail to obtain an extensive title insurance policy. Available only prior to settlement, speak with Schutt Law - Title Insurance Agency at 239 540 7007 and get competitive rates on your title insurance. Alternatively, our website features a real estate calculator to help you plan for your costs.Prepare Your New Home With the Basics
Just because you move everything on the one day doesn't mean that it will all be set up on that day. A few days before your move, take basic items to your new home such as toilet paper, garbage bags, soap, towels, and sheets. Having these items to allow you to relax and sleep that night can be the difference between a restful first night, and an angry one. ;Additionally, pack ;and label a box full of entertaining items such as board games or electronic devices to easily identify ;as you are sorting through your boxes upon arrival.Move Your Pets Later
If you have pets, it's best to find somebody or a service to take care of them for the moving day, and potentially the next day to set up. While your new home may be pet-friendly, the moving experience isn't, and the last thing you want are your pets running around the feet of your movers as they are trying to take care moving your fragile and precious items. If ;you aren't able to find somebody to mind them, consider moving them first and setting up a space for them in your new home where they will be out of harms way.Title Insurance in Target and Buying Real Estate Go Hand in Hand
If you're buying real estate in Villas then the smart choice is to get title insurance in Villas. Speak with a reputable title insurance agency such as Schutt Law - Title Insurance Agency at 239 540 7007 and ;gain financial peace of mind that the title of your home has been investigated to confirm there are no outstanding claims. ;In addition to this, a comprehensive policy can be purchased to ensure that, should any undisclosed claims be raised, you are your home ownership are financially protected.12601 New Brittany Blvd
Fort Myers, FL 33907
Phone: 239.540.7007
Fax: 239.791.1080
