About us
Frequently Asked Questions

What is title insurance?
Title insurance is protection against loss arising from problems connected to the title to your property.
Before you purchased the property, it may have gone through a multiple chain of owners. There may be a “cloud” at any point in the chain that could emerge to cause trouble. For example; an heir to the property may not have joined when the title was transferred. Or there may be unpaid real estate taxes or other liens. Title insurance covers the insured party for any claims and legal fees that arise out of such problems.  Title insurance differs from other forms of insurance, as it insures against matters of the past, and the premium is paid only once–at closing. The policy remains in effect for as long as the insured or the insured’s heirs have an interest in the property. 

What kinds of title problems actually occur?
There are a number of things that could jeopardize your interest: it could be an unsatisfied mortgage, lien, judgment or other recorded claim against the property.  A problem could arise through easements, use restrictions or other existing covenants. Or it could be a hidden risk like forgery or fraud in the chain of title.  Improperly executed deeds, the marital status of previous owners, expired powers of attorney, improper legal process in a foreclosure suit… the list goes on.

What should I expect at the closing?
Please allow approximately one hour for your closing appointment with us. If you want to read the documents, please ask us to provide a sample set to you ahead of time for review.  Reading all of the documents will take more than the allotted one hour. The Closing Place, Inc. requires closing instructions and documents from your Lender at least 24 hours in advance of settlement.  Please be sure to meet all of your Lender’s conditions so that they can release the closing documents to us. Make sure your Lender has a copy of your Hazard/Homeowners Insurance as early as possible in the process to help avoid delays in the release of their closing package to us. Please review your Hud-1 Settlement Statement carefully once we are able to send it to you.  We strive to have it ready to fax or email to you at least 24 hours prior to closing. Please bring/provide your picture identification: driver’s license, military id or your passport with you. We require your funds for closing electronically transferred to our account (wire transferred). Our wiring instructions are available upon request.  

Why do you only accept wired funds?
Due to the FAR BAR contract language requiring COLLECTED FUNDS at closing (as stipulated in the Florida Administrative Code 690-186.08), as well as the epidemic number of fraudulent cashier's checks circulating, we require all cash to close to be tendered in the form of a wire transfer. Our wiring instructions are available upon request.  

Do I need a survey?

If you are obtaining a mortgage, your lender will require title coverage for any encroachments, violations or boundary disputes that a survey would uncover. Your final survey will show your boundary lines, the exact location of your home, easements that may be located on your property, common areas you may abut, set-backs, any encroachments (fences, roadways, swimming pools, outbuildings), fences and roadways.  We cannot offer title coverage for these items without a Survey.  In addition, any future construction that you perform on your home, such as a new fence, swimming pool or other structure will require a survey in order to pull a permit.  Most of the time we can use the Seller’s old survey, if it meets the requirements.