Below are some of the frequently asked questions our clients ask us. Don’t see your question here? 

Please give All Purpose Title Company a call at 954-399-7004 and ask one of our professionals for assistance.

     In any real estate sale or purchase transaction, a title company often plays an important part from the beginning of the process through the closing. Title companies assist sellers with transferring the title to the new owner, and they help buyers acquire titles. Title companies also perform title searches, provide title insurance, and handle escrow duties for buyers and sellers.

When buying and selling a piece of real estate, title insurance insures both the lender and the homebuyer against loss or damage in the event there are defects or encumbrances in the property title. Each title insurance policy is subject to specific terms, conditions and exclusions.

The 2 standard forms of title insurance policies are:

• The Owner Policy insures the homeowner against certain risks or hidden threats potentially associated with the title.
• The Lender or Loan Policy insures the lender that the mortgage is a valid lien or security on the property.

How Do I Apply For a Homestead Exemption?

Please apply by using this link - Homestead Exemption https://floridarevenue.com/property/documents/dr501.pdf

Yes! Buying a title insurance policy is a customary step all homebuyers should take prior to closing.

It is possible for defects to the title or liens on the property to remain unexposed at the time of closing.

An Owner’s Policy of Title Insurance will protect you from these and other threats to your ownership and title of real property. 

A title is proof that the property owner is indeed in lawful possession of that property.

A title search involves retrieving documents that demonstrate all events over the life of the property.

When real estate is sold, a title company often is asked to search the property’s title history for defects which can adversely affect the property’s value. From the search, the title company prepares a report called a title abstract, or an even more extensive title history. Mortgage lenders generally require a title search before they will loan money.

Closings generally take place at a title and escrow company. In attendance are the seller, homebuyer, real estate agents and lawyers for the buyer and seller.

Also in attendance are the closing agent, the title insurance rep, and the escrow agent. All Purpose Title Company typically fulfills these three roles, coordinating and documenting the transfer of documents and money, disbursing funds, and taking care of numerous closing details.

The following residential closing actions transfer the ownership of property from seller to buyer:

• All legal documents are signed. These generally include the closing statement, Truth in Lending statement, mortgage note, deed of trust, affidavits from buyer or seller, and any contract riders.
• The buyer (or the lending agent for the buyer) gives the seller a check for the amount owed toward the purchase price of the home or property.
• The seller signs the deed over to the buyer. The seller also transfers the keys to the homebuyer.
• The title company registers the new deed listing the buyer as the new homeowner.
• After closing costs are paid and the remaining balance on the mortgage is satisfied, the seller receives all proceeds earned on the sale.