Title Insurance: What It Is and Why You Can’t Afford to Skip It
August in Florida is hot in more ways than one the real estate market stays busy year-round in Southwest Florida. As your mortgage professional, one of my goals is to make sure you’re protected long after the closing table. That’s where title insurance comes in.
Title insurance protects you and your lender against defects in the title to your new home; things like unknown liens, errors in public records, undisclosed heirs, fraud, or boundary disputes that could arise after you take ownership. In Florida, title issues are more common than many buyers realize, and the consequences of an unresolved defect can be devastating.
There are two types of title insurance: a lender’s policy (which your lender will require) and an owner’s policy (which protects you personally). The lender’s policy only protects the lender’s interest, not yours. I always strongly recommend purchasing an owner’s policy as well in Florida, it’s typically a one-time premium paid at closing.
In Florida, the party responsible for paying for title insurance varies by county. In Sarasota County, it’s customary for the seller to pay for the owner’s title insurance policy. In Manatee County, it’s more often the buyer. Knowing local customs helps avoid surprises during contract negotiations.
Unlike other types of insurance, title insurance protects against past events rather than future ones. Once issued, your policy covers you for as long as you or your heirs own the property. There are no ongoing premiums it’s a one-time cost for permanent protection.
Working with a knowledgeable title company is essential. I have strong relationships with reputable title professionals throughout Sarasota and Manatee counties and can recommend partners who will handle your closing efficiently and accurately.
Ready to Get Started?
Want to make sure your home purchase or refinance is fully protected? Reach out to me today. I’ll connect you with trusted local title professionals and guide you through all the insurance and protection aspects of your Florida mortgage transaction.
Tabatha Diedrich
Sr. Loan Officer | First Premier Mortgage
941-780-4252
NMLS: 1933544
8433 Enterprise Cir STE 100
Lakewood Ranch, FL 34202