Learning About Buying And Selling Real Estate In Cape Coral, Fort Myers Or Around Florida: Title Insurance And Escrow From The Beginning

Learning About Buying And Selling Real Estate In Cape Coral, Fort Myers Or Around Florida: Title Insurance And Escrow From The Beginning

Learning what title insurance and escrow mean will lessen the anxiety many people experience when they are entering into real estate transactions.

Buying and selling real property can be a mind bending experience in Cape Coral, Fort Myers, or anywhere else in Florida. Making the process more user friendly is not going to happen soon so learning what the terminology, such as escrow and title insurance, means will go a long way toward relieving the headaches associated with buying or selling real estate. Whether you are looking to purchase or sell in Cape Coral or Fort Myers, understanding what title insurance and escrow are will assist you in your real estate ventures.

The Value Of Title Insurance

house property guidingWhile title insurance might appear to be an unnecessary expense, title insurance is almost always a requirement if the buyer is purchasing property with someone else’s money. The reason for this is that even though the purchaser receives a deed for the property, it doesn’t always mean that there is only one legal owner. Prior owners, their spouses, partial owners, and creditors who have a stake in the property could come forward at any time and claim their share of the property, leaving the purchaser with a debt they are not responsible for. Title insurance protects them and their lending institutions from financial loss due to unforeseen title defects and liens.

A title insurance company will defend the insured if a lawsuit is filed. It will reimburse insured parties for monetary losses if there are errors on the property that need to be cleared from the chain of title before the purchaser and their lending institution can have a clear title on the property.

Protecting Your Interests With An Escrow Account

Although escrow is not formally called insurance, its basic purpose is to insure that a stipulation or set of stipulations is met. In escrow’s most basic form, it is a deposit of funds, a deed, or any other item by one party for the delivery to another party upon completion of set conditions or events. The most common usage of escrow is for the down payment to purchase a home.

Title insurance and escrow accounts are terms many first time property buyers and sellers have never heard and ones that even some second and third time property buyers and sellers may not understand. Working with an established title company, such as Title Junction in Cape Coral, Fort Myers, or around Florida, can make the difference between a smooth transaction and one that’s riddled with problems.

Title Junction is a full service real estate title company serving the area of Fort Myers, Cape Coral and the entire state of Florida since 2005. The company handles a number of real estate title services for both commercial and residential properties. Employees of Title Junction can also act as a witness in courtesy closings as well as an escrow agent or a notary public.

Please contact Jennifer Ferri of Title Junction, LLC for further information
@ 239-415-6574 or
www.title-junction.com

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Posted on July 12, 2013, in Title and tagged , , , , , , , , , , , , , , . Bookmark the permalink. 1 Comment.

  1. I have read most of them and has a lot of them. You’re doing the great work.

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