Phone: 239.540.7007
Title Insurance
 The real estate business can be tricky, which is why, if you’re new to it, you should have an experienced advisor by your side to guide you through it. A real estate agent, for example, can be that person for you. However, in order for them to help you out how you want them to, you should build a solid working relationship with them. If you’d like a few tips on this, keep reading!

Building a Good Relationship with Your Real Estate Agent

  1. If you want to venture into the real estate business (with or without an agent), the first step is to research the whole process. This way, you’ll be able to know what you want and don’t want from it.
  2. Like in any other good relationship, communication is key. Be ready to talk to your agent and let them know what you need in a house and from your relationship in order to get you both on the same page.
  3. Just as you’re willing to talk to your agent, you need to be able to listen to what they have to say. After all, they’re there to offer their advice through the process, so be open to their opinions.
  4. Remember that after all is said and done, you’re the one that’s calling the shots, so don’t be afraid to be decisive and put your foot down whenever you feel like you need to.
  5. Tied up to the point above, an important thing to keep in mind is that you should absolutely ask questions and voice your concerns. Again, this is a big investment, so be certain of the path you’re taking.
  6. Lastly, another key of a good work relationship is realizing when it’s not working out. If you can’t seem to see eye to eye with your real estate agent, move on.

Turn to Schutt Law Firm, P.A. in for Title Insurance Fort Myers

If you’re in the process of closing the deal on a property, trust in Schutt Law Firm, P.A. in Fort Myers to provide the title services your case requires in order to be finalized properly. Call 239-540-7007 to learn more about their services and expertise.

Be sure to check back on this blog for more useful tips, like How to Choose the Right Neighborhood for You.
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