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Despite what you might think, buying or selling your home does not have to be a complicated process. Yet , many buyers and sellers feel intimidated by a lack of legal knowledge when they encounter closing documents. As lawyers and experienced title professionals, we work closely with our clients to demystify the process, answer any questions they may have, and ensure that their real estate transaction proceeds as smooth as possible.
Our office only allows Attorney's to facilitate every step of the transaction as an added layer of protection.
Whether you are a buyer or a seller, a clear title is critical in a real estate transaction. Before closing we will conduct a title examination, which includes evaluating any restrictions, easements, encroachments, and any other factors limiting the seller’s ability to transfer ownership. In addition, we will look at mortgages on the property and determine if any mortgages must be satisfied before closing can occur. If there are any concerns about the status of title, we will address them with you during this process.
Title insurance protects buyers in the event that there is a problem with the title to the property in the future. Once we have conducted a title examination, we will provide a title commitment through our underwriter about the status of the title. If accepted, we will issue a title commitment, which contains the terms, conditions, and exclusions that will be included in your insurance policy. The title commitment also operates as a “to-do list” of things that we will need to clear and satisfy in order to insure a clear title to the property. Once all steps have been completed and all documents have been recorded, the title policy will be issued.
There are many parties involved in a real estate transaction, and even more moving parts. As closing attorneys, it is our job to coordinate all of these moving pieces to ensure that the transaction is closed as efficiently as possible. Open and timely communication is essential for a successful closing. We pride ourselves on prompt attention to your needs, ensuring that all parties are notified as we prepare the settlement statement, coordinate important dates and document signatures, and confirm available funds needed for closing.
Once closing occurs, we record and disburse funds. We finalize all necessary documents, prepare the final title policy and handle any matters that are still pending post-closing.
A title is a document that defines the legal owner of a piece of real estate property. It gives a person the right to occupy, use, transfer interest, or modify the property how they see fit. When you buy a property, you pay for the title of that property, and an individual or entity may dispute the title during real estate transactions based on past claims and rights.
Paying for a title examination is essential before purchasing or selling a property. A Jacksonville closing attorney can perform a title examination, including evaluating easements, encroachments, and restrictions, to identify concerns and work with you to address them.
Title insurance is a policy that protects property buyers and sellers from financial loss that may occur due to title defects. For example, suppose someone makes a claim against your property. In that case, this policy will, in compliance with the terms of your insurance coverage, provide legal protection and cover all court fees and related costs.
A title also protects against anything else filed against the title, such as outstanding conflicting wills, liens, forgery, and back taxes. So, if a claim is valid, it assures you of compensation for your losses up to the face value of the title insurance coverage.
The total cost of title insurance depends on the property's buying price, and its premiums are paid only at closing. The Florida state government of financial services sets the price of title insurance. Thus, the average insurance cost can range from $500 to $1,500, depending on various factors, including the property's location and former insurance. You can determine your title costs using promulgated rates provided by the state government:
Buyer's Costs
Seller's Costs
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