The Southern Title Column

Buying, selling or refinancing and looking to save some money? Here’s some tips to help you get the most value and protect your investment.

• Ask if you qualify for a reissue premium, which could help you save money on your title insurance. Note: You don’t have to return to the same company who handled your prior closing. All legitimate title agents offer 100% reissue if you are qualified.

• Make sure you know what your policy covers BEFORE you purchase by reading the title commitment thoroughly. Call your title agent with any questions.

• If your real estate agent, or loan originator recommends a title agency to you, ask whether they have a financial interest in the company. If you are selling and purchasing a title insurance policy, you have the ability to choose the title company.

• Be sure that you read and understand all the documents you sign at closing.  

• Be sure that the policy describes all the property and interests you are acquiring. Check for correct spellings of all names and addresses.

• If you are buying previously foreclosed property, be sure you get an Owner’s Policy of Title Insurance, and carefully review Schedule B-2 of the Commitment, which outlines items that are excepted from coverage to be sure you are receiving marketable (not just insurable) title.

• Be sure your title agent is a member of the Florida Land Title Association and the American Land Title Association. FLTA and ALTA members are committed to high ethical standards.

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