| Q: |
How is Southeast Title & Trust different
than other title companies? |
| Q: |
What is Paperless Closer? |
| Q: |
What is E-recording? |
| Q: |
What is Title Insurance? |
| Q: |
What does our title company do? |
| Q: |
Do I need to buy title insurance? |
| Q: |
My lender already requires title insurance. Doesn't that protect me? |
| Q: |
Do I have to use the title company recommended to me by my lender or real estate broker? |
| Q: |
Who does the title company represent? |
| Q: |
How much does Title Insurance Cost? |
| Q: |
Who pays for title insurance? |
| Q: |
Can Southeast Title & Trust handle closings anywhere in the State of Florida? |
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Q: |
How
is Southeast Title & Trust different than
other title companies? |
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Southeast Title & Trust
utilizes cutting edge technology to offer
the smoothest and best closing experience in
Florida . Our clients, realtors, lenders,
and others involved in the real estate
transaction can log into our ultra secure
Paperless Closer™ system, allowing them to
have access to their closing file and
related documents 24/7; |
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We are attorney owned and operated and have
years of experience to handle any title
issue that arises; |
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Our experienced processors and closers are
100% bilingual and can conduct the closing
in English or Spanish; |
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In counties that utilize electronic
recording, the deeds and mortgages will be
recorded immediately after the closing which
essentially eliminates the "gap" between
closing and recording. Southeast Title &
Trust was one of the first title companies
to embrace electronic recording; |
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Children can watch TV or a movie in our
video monitored playroom while you are
closing on your property or refinance; |
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Our customer service is five star; |
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Q: |
What
is Paperless Closer? |
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Paperless Closer allows
our clients to very efficiently manage their
closings 24/7 by allowing them to: |
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Order title online; |
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Track the status of all of their files in
one location; |
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View and print all documents related to the
transaction; |
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Send notes to the file for all participants
to view; |
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Submit documents from their hard drive to
our. |
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Q: |
What is
E-recording? |
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Electronic Recordation
transforms the costly and time-consuming
paper process of recording land records into
a secure, economical, automated online
transaction. The end-to-end process, from
creating and signing documents, to delivery
and recording of documents, can now be
accomplished at Internet speed! Southeast
Title & Trust was one of the first title
companies to embrace electronic recording. |
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| Q: |
What is Title Insurance? |
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Title Insurance protects you from financial loss due to title problems that might exist with your property. Undiscovered defects in title can exist could affect your ownership rights and cause a financial loss. Not only will title insurance indemnity you from financial loss due to title defects, it will also pay the cost of defending against covered claims. |
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| Q: |
What does our title company do? |
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Our title company's job is to ensure that your real estate closing takes place and runs as smoothly and efficiently as possible. Some of our roles are to run title searches so that we can examine the title history of the property, clear any title defects, issue title insurance policies and ensure that the closing complies with the requirements of all the parties involved. |
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| Q: |
Do I need to buy title insurance? |
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Absolutely! Title insurance is the only way that you can protect yourself from financial loss in the event that problems develop regarding the rights to ownership of your property. There may be hidden title defects that even the most careful title search will not reveal. In addition to protection from financial loss, title insurance pays the cost of defending against any covered claim. READ MORE |
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| Q: |
My lender already requires title insurance. Doesn't that protect me? |
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There are two types of title insurance that can be issued at closing. Your mortgage lender will require you to purchase a Lender's policy for them which insures that they have a valid and enforceable lien on the property due to title defects. This policy only protects the lender, not the purchaser. The lenders coverage declines in value each time you make a mortgage payment.
We strongly suggest that you purchase an Owner's policy which protects you from title defects which may have existed before you purchased your property. Your Owner's policy insures you for the purchase price of your property and will remain in effect for as long as you own your property. A Lender's policy is only effective for as long as that particular mortgage remains in effect. When you refinance your mortgage, your new lender will typically require you to purchase a new Lenderís policy for the loan. |
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| Q: |
Do I have to use the title company recommended to me by my lender or real estate broker? |
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No. You are free to use any title company that you wish but you should consider the qualifications, experience and reputation of your title company.
Often times in new construction, the builder may require you to use a specific title company which is paid from the builder's fee, however, this condition is often negotiated to allow the title company that you choose to be reimbursed from the builder’s fee. |
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| Q: |
Who does the title company represent? |
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The title company does not represent the buyer, seller or the lender in the same manner that an attorney would represent a client. The title company is, in effect neutral. Our job is to ensure that the transaction is closed in conformity with the lender's instructions, and the property is transferred in compliance with the terms of the contract and under the requirements of the law. |
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| Q: |
How much does Title Insurance Cost? |
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Title Insurance rates in Florida are highly regulated. An owner's policy has a one-time premium that is calculated by the purchase price of your home. The title premium is based upon promulgated rate, which is set by statute. |
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| Q: |
Who pays for title insurance? |
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In most instances, the Buyer/Mortgagor (or borrower in a refinance transaction) pays for the title insurance policy. In some counties (i.e. Palm Beach County), however, it is customary for the sellers to pay for the buyerís title insurance premium and related costs. |
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| Q: |
Can Southeast Title & Trust handle closings anywhere in the State of Florida? |
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Yes. While Southeast Title & Trust has its offices in two convenient locations in South Florida, we can effectively handle your title needs throughout the State of Florida. Please contact our representatives for further details. |
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These pages for information purposes only. It is not intended to be legal advice. |
