Real Estate Title & Closings

Buy, Sell or Refinance with Confidence.

It may not be a requirement to hire a lawyer for a real estate transaction in Florida; however, it is highly recommended.

Title insurance premiums are based on promulgated rates set by the State of Florida. Therefore, insurance rates offered to consumers are the same between title companies and law firms. Hiring a qualified and experienced lawyer to conduct a real estate closing in Florida is always beneficial and, more often, the settlement/closing fees charged by a lawyer are less than the rates charged by a title company.

Unlike a title company, a Florida real estate lawyer can provide in-depth, legal explanations about the important transaction documents you are required to sign, as well as the implications of any potential title issues, defects, encumbrances, and/or restrictions.

In addition, a Florida real estate lawyer can draft unusual and/or complicated transaction/documents that a title company may not be aware are necessary to complete the closing. A Florida real estate lawyer is also able to more effectively work with lenders and banks in satisfying mortgages and/or liens on the subject property in order to prevent any delays in closing.

Stick Hires a Lawyer to Draft His Closing Documents

I am affiliated with Old Republic National Title Insurance Company and Attorneys’ Title Fund Services, LLC (“The Fund”), one the highest rated underwriters in the industry.

Along with providing competitively priced title and closings services, I provide real estate legal services at one low, combined rate. Most often, fees for real estate legal services are paid out of the closing costs, so you do not need to worry about incurring any out-of-pocket expenses.

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Behind the Scenes.

There is a lot more that goes into a closing than signing documents.

Closing and Title Services:

Owner’s Policies
Lender’s Policies
Leasehold Policies
Title and Name Searches
Survey Services
Loan Document Review
Title and Document Review
Closing and Escrow Services
Recording Services
Estoppel Request and Review
Recording and Filing Services
No additional cost In-Home Closings
Mobile Closings
Traditional, In-Office Closings

Additional Searches:

Covenant Restriction and Easement Searches
Judgment Searches
Lien Searches
Mortgage Searches
Municipal Searches
Partition Searches
Real Estate Tax Searches
UCC Searches
Mortgage Foreclosure Searches
Tax Lien Foreclosure Searches
Mechanic’s Lien Foreclosure Searches

Legal Services*

Buyer and Seller Representation
Draft and Review of Purchase and Sale Contracts
Title Opinion Letter
Entity Formation

*The Law Office of Jordan W. Jacob does not represent either party as legal counsel or provide any legal advice unless and until separately retained in writing, and only to such extent and at such cost as mutually agreed by the attorney and the client.

Stick Hires a Lawyer to Review Closing Documents

Florida Real Estate Closing FAQs

Stick has real estate closings and title questions

What is a Real Estate Closing?

Closing, which is sometimes also referred to as “Settlement” or “Escrow”, is the event where the Title to a piece of property is transferred from a Seller to a Buyer. Closing involves the completion of all the necessary paperwork to finalize the agreement between the Seller and the Buyer. All financial issues are settled at Closing and are known as “closing costs.” All necessary financial and transfer documents are signed by the Seller and the Buyer and then filed with the appropriate local authorities, which successfully transfers the title.

What is a Title?

Title is the right to occupy and use a property. When you purchase a property, you are purchasing the Title to that property. Title may be contested by a person or entity that is not a party to the real estate transaction and based upon past rights and claims, which is why paying for a detailed Title Search and examination is recommended prior to purchasing a property.

What is a Title Search?

A Title Search is a detailed examination of the historical records concerning a property, which may include deeds, court records, property and name indexes, and many other documents. The purpose of a Title Search is to verify the Seller’s right to transfer ownership of the property, and to discover any claims against the property, defects, and/or other rights or burdens on the property.

How does Title Insurance work?

If a claim is made against your property, Title Insurance will, in accordance with the terms of your policy, assure you of a legal defense and pay all court costs and related fees. Also, if the claim proves valid, you will be reimbursed for your actual loss up to the face amount of the Title Insurance Policy.

How much does Title Insurance cost?

The cost of Title Insurance will vary based on the purchase price of the property. A title insurance premium is paid one time only at Closing.

In Florida, the Title Insurance premium is based on promulgated rates and calculated based on the purchase price as follows: up to $100,000 = $5.75 per thousand; over $100,000 = $5.00 per thousand (ex: $100,000 = 575.00; $200,000 = $1,075.00).

Who pays for Title Insurance?

The party who pays for Title Insurance varies based on the county where the property is located and can be negotiated in the sales contract. In Florida, the Seller generally pays for the Title Insurance and also chooses the title/closing company. In Miami-Dade and Broward Counties, the Buyer pays for Title Insurance and selects the title/closing company. In Palm Beach County, the Sellers pays for Title Insurance and selects the title/closing company.

What are the general Closing Cost responsibilities?*

Seller’ Expenses:

Title Search
Closing/Settlement Fee
Owner’s Title Insurance policy
Real Estate Sales Commission
Home Warranty (if offered by Seller)
Homeowner’s Association Estoppel Fee
Homeowner’s Association Dues prorated to date of closing
Taxes – prorated to date of closing
Doc stamps on Deed
Lender fees, if applicable and specific charges exist

Buyer’s Expenses:

Condo/HOA Approval Fee
Recording Fees (Deed, Condo/HOA Approval)
Prorate Condo/HOA Charges
Homeowners Insurance
Flood Insurance (if applicable)
Inspection Costs
Survey
Real Property Tax Proration
Title Services (including loan closing services and Lender’s title insurance)
Simultaneous Issue Mortgage Title Insurance
Title Endorsements (including Florida Form 9)
Loan Discounts or Points
Doc Stamps on Mortgage
Intangible Tax on Mortgage
Escrow (taxes, insurance, condo/HOA fees, mortgage insurance)
Lender’s Attorneys’ Fees
Document Preparation
Appraisal Costs
Tax Service Fee
Termite Report
Credit Report
Environmental Report
Flood Certification Fee

*Examples only. Your specific Sales Contract will govern. In Miami-Dade and Broward Counties, title premium is generally a Buyer’s expense; and in Palm Beach County, title premium is generally a Seller’s expense.

In-Home Closings.

Close on your new home without ever having to leave it.

Closing on your real estate transaction has never been easier, or more convenient, than with In-Home Closings.

For Buyers of Florida real estate, at no extra cost, we will close your transaction in the comfort of your new home. Once you sign the necessary closing documents, we will hand you the keys and you can kick back and relax…you’re already home!

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