Main Office

12514 W Atlantic Blvd
Coral Springs, FL 33071

Local: (954) 971-1755
Fax: (954) 971-1752
info@cleartoclosetitle.com

Questions & Answers

  1. WHAT IS TITLE INSURANCE?
  2. HOW DOES TITLE INSURANCE PROTECT YOU?
  3. HOW DOES TITLE INSURANCE PROTECT THE Lender?
  4. CAN YOU SELECT A TITLE COMPANY OF YOUR CHOICE?
  5. WHAT IS A CLOSING?
  6. WHAT IS REQUIRED TO INSURE A SMOOTH CLOSING?
  7. WHAT IS REQUIRED TO BRING TO CLOSING?
1. WHAT IS TITLE INSURANCE?

Title Insurance insures your ownership rights as well as the condition of your title. From time to time title insurance is often confused with Homeowner’s insurance. The two are very different. Homeowner’s insurance will insure your property against any structural damage that may occur, whereas title insurance will insure against any defects that have occurred in the past, effecting your chain of title.

2. HOW DOES TITLE INSURANCE PROTECT YOU?

When purchasing a home there are many risks involved. When title insurance is purchased, you are issued an owner’s policy which will protect you against loss or damage due to title defects. A search will be conducted on the property revealing all documents of public record such as forgery, fraud, unrecorded claims, judgments or liens just to name a few. Without purchasing title insurance, the unrevealed defects now become your liability. When a title insurance policy is purchased, you will be insured for certain losses due to the unrevealed defects.

3. HOW DOES TITLE INSURANCE PROTECT THE Lender?

At the time of purchase you obtained an owner’s policy which insured you of clear title. When refinancing the lender granting your new mortgage will also require a title insurance policy (at your expense). The lender will be issued a mortgagee policy which will insure them that your property is clear.

4. CAN YOU SELECT A TITLE COMPANY OF YOUR CHOICE?

YES. You may find that your broker, realtor, or lender may recommend a few companies of their choice based on the experience they have encountered in past real estate transactions. There are also counties where the seller in a purchase/sale transaction chooses the title company and pays the title insurance premium. You are not obligated to use that company; however, by using a company of your choice you may be required to pay the premium. Therefore, the choice of the title company is solely yours.

5. WHAT IS A CLOSING?

A closing is the formality of finalizing a transaction, which consist of all documents being properly executed for either the transferring or financing of a property.

6. WHAT IS REQUIRED TO INSURE A SMOOTH CLOSING?

The ultimate goal in every real estate purchase or refinance transaction is a closing that takes place as scheduled with as little stress on the parties involved as humanly possible. If all parties involved in the transaction have been cooperative in providing the information necessary for the title company to properly handle the transaction, there should be no further requirements to insure a smooth closing. Clear To Close Title believes that a well prepared closing is a necessity, not a luxury. Knowing that you have an energetic, personable and confident team handling your transaction can assure you of a successful closing.

7. WHAT IS REQUIRED TO BRING TO CLOSING?
  • You are required to bring two forms of I.D. of which one must consist of a picture.
  • (If applicable) You are required to bring your cash to close in the form of certified funds made payable to Clear To Close Title.
  • Money Orders, Cashier Checks and Wire transfer are all acceptable.
  • You are required to bring any documents instructed by your Title Company, mortgage broker, lender or realtor.
  • (If applicable) You are required to bring your Condo or HOA approval.