Congratulations! If you’re in the market for title insurance, this means that you’re honing in on the closing process of your new property. Whether you’re a first-time homebuyer or real estate investor with multiple properties under your belt, buying a new or new-to-you home is always an exciting prospect.
Of course, it’s common knowledge that buying a piece of property is a major deal — from extensive market research to negotiating with real estate agents and finally working with a title insurance company to help you close the deal, there’s a lot of work involved in this process.
Help With Closing: Your Title Insurance Experts
But what’s not so commonly known is the fact that when you purchase a home (in cash or otherwise), what you’re really buying is the title to the property. This title grants you the right to occupy and utilize this space as you see fit, which is great, except that your title could be contested based on past rights and claims asserted by other parties.
In some situations, claims against homeowner titles can cause you to lose valuable money and time. In more dire situations, a nasty claim situation could render you homeless or force you to give up the property and subsequent title.
That’s where our title insurance company in South Florida comes in. Specializing in serving Broward, Miami-Dade and Palm Beach counties, Title Partners of South Florida is your #1 defense against claims and disputes against title claims.
Following the terms of your South Florida title insurance policy, our team will work hard to provide you with the legal defense you need during this trying time. This includes paying all court costs and related legal fees in addition to the reimbursement of your actual loss (up to the face amount as outlined in your specific policy).
How Much Is Title Insurance In South Florida?
As one may assume, the purchase price of the property in question determines how much your title insurance policy will cost. While typical insurance premiums need to be paid on an annual basis, title insurance premiums are always paid up-front during the settlement period of the housing closing process. This occurs before you’ve actually finalized the closing process on your new or new-to-you property.
The state of Florida determines the title insurance premium based on what is known as a promulgated rate calculation. Your premium, again, will be based on the purchase price of your home:
- Purchase prices up to $100,000: $5.75/thousand dollars
- Purchase prices over $100,000: $5.00/thousand dollars
To calculate or determine your exact title insurance premium, we strongly recommend meeting with one of our friendly team members. You can also get a free title insurance quote online.
Contact Our Top Rated Local® South Florida Title Insurance Company Today!
The best way to clear up any confusion and go about the title insurance process in a thorough and legitimate manner is to work with the experts in the industry — fortunately, that’s us. To get an idea of what your experience will be like, check out our reviews or read our South Florida title insurance Q&A page. Otherwise, get in touch with us today.