So much is going on in a real estate transaction that it can sometimes become confusing. You deal with agents, brokers, inspectors, appraisers and more when you’re buying or selling a home. It can be confusing to know what you are responsible for and who you can trust to have your best interests in mind throughout the process.
For example, who picks the title company — and who pays for what? Here’s a look at who chooses the title company, as well as how Title Partners of South Florida helps your closing go as smoothly as possible. The last thing you want is a title challenge that’s going to hold up your transaction and delay the closing.
Who Chooses the Title Company?
The better question is: Who’s paying for the title insurance? The party paying is typically the one who gets to choose the service provider. In most Florida counties, the payer is typically the seller, although there are certainly exceptions, including Broward, Miami-Dade, Collier and Sarasota counties where the buyer typically pays the title insurance.
Most parties to a real estate transaction are indifferent about what title company is used. They shouldn’t be. A title company can greatly influence whether a home purchase or sale closes successfully or not. At Title Partners of South Florida, we lean on our depth of experience to identify and resolve issues as early as possible so they don’t affect closing.
Should I Use the Seller’s Title Company?
You shouldn’t be fearful of voicing your reservations about a title company. This is one area where real estate agents can be helpful. They may be able to point out any red flags with the companies you are comparing. However, it’s always important to do your own thorough research to ensure you are choosing the title company right for you.
If you choose to utilize the seller’s title company, be sure you do the following:
- Always read the fine print. Options can be selected or written into the contract, making you responsible for items that you may not be aware you’re agreeing to pay. Review the contract in detail, so you don’t risk paying additional fees at closing.
- Look out for discounts. Discounts are often a way for title companies to ensure the buyer or seller will work with them. However, you must consider any additional costs you will have to pay based on the terms of the contract. Consult with a title company and have them review your contract to provide you with an accurate quote and compare the total fees with other title companies. If you get a discount of $1,000, but have to pay for $1,000 in other fees, was the discount really worth it?
- Seek the advice of your realtor. Hopefully your realtor has been through enough closings, so they know exactly what expect during the process. Regardless, make sure you do your own homework on title insurance companies in Florida, as their service quality and closing experience ranges significantly.
Why Choose Title Partners of South Florida?
You have so many options when searching for a title company in south Florida. Why should you choose to select Title Partners of South Florida? We’ve been in business since 1995, which means we have decades of experience. This experience is invaluable, as it helps us identify any issues before the closing date and eliminate any last minute issues at the closing table. While some newer entrants to the business are still learning the ropes and making first-time mistakes, we’ve seen and handled it all on behalf of thousands of clients.
Don’t just take our word for it, though. Check out our reviews online or access our Homebuyer’s Closing Information Guide, which outlines everything you need to know about closing a real estate transaction. In this guide, we do our best to share from our experience the things everyone should know about title insurance and how to close real estate transactions in Florida without delay.