How To Choose A Title Agency In Florida?

When you’re buying a new home, one of the most important professionals involved in the transaction is the title agency. You need to make sure that your title agency in Florida has the experience to ensure that your closing is completed without a problem.

Why is a Title Agency in Florida So Important?

A title agency in Florida has several critical tasks to perform to endure that your closing goes smoothly. They include:·

Researches the Ownership of the Property: The title agency must research the ownership of the property to ensure that all prior liens have been released, giving you clear ownership of the property.
Manages the Closing: In Florida, the title agency is responsible for managing the closing. A title agency in Florida will provide the lender with the title documents, and identify the closing costs owed by the seller and buyer.
Issues Title Insurance: Title insurance protects the buyer from any ownership disputes that may arise after closing.

What Can Go Wrong?

The three things that a title agency does for your closing may seem simple, but if they aren’t done properly and in a timely fashion, many things can go wrong.

Property Ownership Issues

There is more opportunity for property ownership issues than you might think. A number of issues may result in a lien being placed on the property. Until that lien is released, the property can’t be sold. Here are some examples of liens:

Property Tax
IRS Tax
Contractor
Child Support and Alimony
Mortgages

If the title search doesn’t resolve any lien or dispute over ownership, your purchase may stall indefinitely. And, if a dispute isn’t uncovered during the research, you’ll have problems after the sale.

Closing Issues

If the title agency in Florida doesn’t calculate the closing costs accurately, you may end up paying too much.

Title Insurance Issues

If the title insurance isn’t issued correctly, or isn’t backed by a reliable title insurance company, you won’t be covered if a dispute over ownership ever arises.

Choosing a Title Agency in Florida

Now that you’ve seen how important the title agency is, make sure that you choose wisely. Consult with your real estate agent and other people. Check the agency’s reputation and ask them about the issues that need to be addressed.

With a reputable title agency, the closing on your home purchase will be completed on a timely basis, with no problems.