There are so many moving parts in a real estate transaction. It can often make your head spin. From finding a realtor to finding a home, you might wonder what else you need to find. Well, it might be a title company.
Once you’ve put an offer on a home and it’s been accepted, the countdown to closing begins. For a smooth and seamless closing, you’re going to want an experienced and professional title company. If you’re the buyer, depending on what was provided in the contract and what is customary in the County where the Property Is located, you will be in control of choosing which title company you’d like at your side.
Choosing the Title Company
The biggest factor in determining who chooses the title company for real estate transactions comes down to who is paying for title insurance. Typically in Miami-Dade and Broward Counties, for example, that is customarily the buyer. While title insurance is not required when buying a home in Florida, as a buyer it is in your very, very best interest to do so.
In Florida, title insurance rates are set by the Florida Administrative Code. Rule 69O-186.003 specifies rates for all types of title insurance scenarios, including original owner and leaseholder title insurance coverage, reissue rates (if a prior owner’s policy exists), substitution loan rates, and other situations. Unlike other types of insurance, title insurance comes with just a one-time premium payment.
When choosing a title company, you want a full-service firm that also has the legal expertise to back it up. At ADS Title Services, we provide title insurance, settlement services and expert guidance to ensure a smooth real estate transaction and protection for the long haul against title problems. Our licensed title agents are backed by a national title insurance underwriter and they pride themselves on delivering exceptional service and commitment.
As you prepare to close on a new property in South Florida, please get in touch with our team at ADS Title Services to learn more about title searches, title insurance, and the real estate closing process in Miami.