Table of Contents
Table of Contents
Title Company in Weston Florida
Are you looking for a title company in Weston Florida to help you through the closing process after finding your dream home? The Law Offices of Brian Kowal Law own a Title Company near Weston Florida you can rely on to serve all your real estate title and closing needs. While purchasing a home, especially for first-time homebuyers, can be an exciting time, it can also be worrying.
Closing on a property requires a lot of essential paperwork, title searches, inspections, and the purchase of insurance. Finding a local Weston title company to help you throughout the entire process can be a lifesaver. There are enough things a soon-to-be homeowner requires to do during the process of buying a home without having to worry about all the little details of the closing. That’s where title companies in Weston, Florida, come in.
Kowal Law Title Company is the best title company in Weston with years of experience in the real estate transactions. Our professional team of real estate professionals can help you close with confidence. At Brian Kowal Law, we offer a full range of closing services, including Florida homeowners’ insurance, title insurance, title and property searches, record owner searches, and other important title and escrow services.
This means you will have everything you require for a successful closing in one place. Our closing and title services are the best in Weston, Florida. Let us handle your next closing and have the confidence of knowing you will have a team of professional real estate lawyers standing behind you.
Florida’s Property Title Closing Procedures
Basic Principles Behind Real Estate Title Closing
In Florida, the real estate industry is a large part of the local economy, with a significant number of residential and commercial real estate closures taking place on a continuous basis.
Although Florida Real Estate Lawyers fully understand the real estate title closing process as they are involved in real estate closings every day, many of the other persons involved in Florida Real Estate Agency transactions often experience some frustration as to everything that happens between the time the purchase and sale contract is signed on the closing date.
This brief article is written to explain the closing process and the basic steps that are usually followed in every Florida real estate transaction so that buyers, sellers, real estate agents, lenders, and other stakeholders will have a better understanding of the many actions taken by Florida real estate attorneys to successfully conclude a real estate transaction.
Submission of the Order of Title
After the purchase and sale contract is signed between the purchaser and the seller and the initial deposit is made by the purchaser, the purchaser’s lender (if the transaction is financed) or the purchaser’s real estate agent (if the transaction is a cash transaction) will submit a request for the title to the title company in Weston chosen by the purchaser to initiate the transaction.
Typically, the purchaser’s lender or real estate agent will complete and send a one or two-page form to the closing attorney containing all relevant information related to the transaction, such as the name of the party, description of the property, purchase price, information on the lender and existing mortgages. Most real estate attorneys also have pages on their websites where the purchaser’s lender or real estate agent can electronically complete and submit a title request. Typically, the purchaser’s realtor will also send a copy of the signed purchase and sale agreement to the closing attorney at this point.
Processing of the file
The processing stage of the transaction begins immediately after the request for the title has been received by the closing attorney. Since there are many third parties that need to be coordinated in order to obtain all the necessary information and documentation in time for the closing date, an experienced Florida real estate attorney will begin the processing phase as soon as possible after receipt of the title request.
The file processing stage includes ordering tax information that shows the status of current and previous year’s taxes, loan payment statements, surveys, homeowner’s or condominium association letters showing maintenance fees and any assessments, inspection reports, and risk insurance certificates.
In addition, at this stage, the Florida real estate attorney orders the title search report from the title insurance underwriter and the link and judgment search report from the link search company.
During the title search phase of the transaction, a thorough search is made of the public records in the Florida county where the real property is located. Records searched and located include deeds, mortgages, lis pendens, judgments, easements, restrictive covenants, title links, divorce settlements, and any other documents recorded in the public record that affect the title of the property.
After all the documents are located, the title insurance underwriter prepares the title search report, which includes all such documents, and sends it to the closing attorney.
After receiving the title search report from the title insurance underwriter, the title review phase begins. The closing attorney shall, first, issue a title obligation to the purchaser (and, if applicable, the lender) on the basis of the information contained in the title search report.
Next, the closing attorney will examine all documents found during the title search that affect the title of the property in order to determine the current status of the title and whether there are any title clouds that need to be cleared before closing. The title company Weston, Florida also verifies the legal owner of the property and notes any debts owed to the property.
Preparation of Document
After any and all title, clouds have been cleared, and the parties are ready to close the transaction, the Florida Closing Attorney will proceed to prepare all documents for the closing of the transaction, including the deed, bill of sale, affidavits, FIRPTA certificate, and the closing statement.
In connection with this, if the purchaser is financing the purchase, the purchaser’s lender shall submit to the closing attorney its closing instructions so that the closing attorney may include all charges, fees, and charges on the settlement statement.
The experienced Florida Closing Attorney will distribute drafts of all closing documents to all interested parties prior to closing so that they can be reviewed, commented on, revised, if necessary, and ultimately approved well in advance of closing.
Settlement / Closing of the transaction
Once all the closing documents have been approved, the date and time for the completion of the transaction are set. At the close of the transaction, the title company Weston, FL oversees all aspects of the closing of the purchase and sale transaction and answers any questions that the parties may have regarding the transaction and/or the closing documents
The seller signs the deed and the other seller’s documents, the purchaser signs the purchaser’s documents, and the loan documents (if the transaction is financed), and both parties sign the HUD-1 settlement declaration.
After the closing of the transaction, the seller, real estate agents, lawyers, and other parties are paid, and certain documents are sent to be recorded in the county where the property is located.