Florida Closings and Title | The Law Office of Jordan W. Jacob

The Law Office of Jordan W. Jacob

Your Lawyer for Life...and After™

Florida Closings & Title

Buy, Sell or Refinance with Confidence.

Stick Buys a House

It may not be a requirement to hire a lawyer to close 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 generally 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 closings and title 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 closings and title lawyer can draft unusual and/or complicated transaction/documents that a title company may not be aware are necessary to complete the closing. An attorney 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
Stick Hires Lawyer to Perform Search

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 closing/title 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.

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!

Stick holds up new house

Your Florida Real Estate needs start here.

Florida Closings and Title Keys to New House

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If you have a question or just want to connect, get in touch today.