IF YOU HAVEN'T NOTICED

IF YOU HAVEN'T NOTICED, gambling your home purchase by NOT purchasing Title Insurance is a risky venture. 

If you haven’t noticed, Florida real estate is very popular right now, especially in our area.  The faster and more complex the transactions, the more likely to have mistakes, and the more opportunity for fraud (yes, real estate fraud is on rise, if you haven’t noticed).  This makes title insurance THAT MUCH MORE IMPORTANT, especially with proper endorsements. 

If you haven’t noticed, some closing companies charge more than others.  Most closing companies offer essentially the same thing—the secure transaction of real property, and they issue title insurance.  Title Insurance fees are regulated by the State of Florida.  The base rate is $5.75 per thousand up to $100,000, and $5.00 per thousand thereafter up to $1 million.  The average cost for a title insurance endorsement is $25 to $85 per endorsement.  So the way a closing company “costs less” is when they don’t issue appropriate title coverage, leaving their customers financially UNPROTECTED. 

Let’s be clear, title insurance is not an obligation of property ownership in Florida—it’s a good deal.  If you own real estate, you have risk. 

If you haven’t noticed, gambling your home purchase to save a few dollars has a big potential to turn out badly, especially in today’s market.  If you haven’t noticed any of this, I hope you don’t.  But if you do have first-hand observation of a challenge on real estate like I have, I hope you have title insurance with proper endorsements to protect your financial investment.