SCHUTT LAW FIRM, P.A.
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:
http://www.stewart.com/en.html
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 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
12/09/2016
If you are in the process of buying a house and you are not sure what to do, it certainly would be easier if you had someone by your side to guide you through the process. That is exactly what a real estate agent will do for you. After they help you complete the purchase, they will suggest you get the necessary insurance for your new home, like title insurance, for example. Schutt Law-Title Insurance Agency in Villas has prepared a guide to help you choose a real estate agent, because before purchasing a house, you need an agent.

Why Do You Need a Real Estate Agent in Villas?

You need a realtor to help you navigate through the buying process. A person who can educate you on how to buy a home and help you understand how the real estate market works will be of great help. A realtor has experience and can guide you to the best decisions. If you are at a loss on where to start or what to do when you are looking for a house, hire a real estate agent.

What to Look for in a Real Estate Agent in Villas

Great References

They should be able to confidently provide you with references from their last ten recent clients. This means their past 10 clients, not selected ones. If you ask those clients how they felt about their agent, most of them (if not all) should give you positive responses about the realtor’s performance.

Shop Around

You don’t have to settle for the first agent you meet, just like you don’t have to buy the first house you see. Before you make a decision on real estate agent you need to meet various options. Interview them to see which profile fits your needs.

Experience

Look for someone with at least 5 years of experience in the real estate business.  Not only that, they should have experience in selling or buying homes in the neighborhood or area you’re interested in and with places within the price range you are looking for. They should be able to name off the top of their head places of interest, schools in the area, and things that you’d be interested in.

Communication

Good agents should be there for you, you shouldn’t have to be chase them around. You are their customer and you should come first. If you’re struggling to get in touch with them because they don’t answer their phone or emails, look for someone else. Your agent should be able to listen to your needs and worries to understand you better and help you make good choices. You should be able to ask questions freely, and they have to be able to answer them.

Go for a Winner

Find out if they have any awards for their job. If they have a “Realtor of the Year” award, you are in luck. This award is given by their peers. Knowing that their talents are recognized by their peers is a great indication of their abilities. Winners know that you should protect your investment. A great way of doing so is by getting the necessary insurance. Among the needed insurance is title insurance. Title insurance protects you and your loaner from unwanted liens, debts, or unexpected ownership claims. Go to Schutt Law to learn more about getting your new title insured. You can set up an appointment by calling them at (239) 540-7007.

Pick a Stranger

Buying a home is a big deal, it’s a business transaction. You want the best possible real estate agent on your side for the ride. You’d do better by choosing a stranger with a good reputation, than by picking a friend or family member because they’re real estate agents, too. Unless that person is a true master of real estate and really know the area you’re interested in, it’s best to go for someone you don’t know. Many times mixing family or friends with business can bring awful results. Everyone has suggestions and opinions, and if you don’t follow them, they might get offended.

Relentless Negotiator

Your agent should be a great negotiator, always finding the best deal for you.  They should be able to offer suggestions for offers or counteroffers and guide you successfully along this path of buying a home.

Full Time Worker

Your agent should be a person who is fully committed to real estate, not someone who does it part time or as a side job. A full time real estate agent makes a bigger effort to accomplish their job.

Chemistry

You will be working closely with this person. They will learn what you like and dislike, and in a way they will make some choices for you. If you don’t feel a click or chemistry with your real estate agent, your relationship won’t work. You need to feel a connection and that they really are looking out for your best interest. If you don’t feel comfortable with them, choose another agent.

Get Your Title Insurance in Villas

After your real estate agent has found the perfect home for you and before you close the deal, get title insurance. It's better to know the history of the house than to blindly make a purchase that comes with unexpected and unwanted debts, among other issues. Call Schutt Law at (239) 540-7007 to learn more about title insurance in Villas.