1. What is a closing?

The closing is your final step in the sale of real property. It is where the title to the real estate as well as any funds that are involved change hands. It is where mortgage documents are signed and witnessed (if a mortgage is being taken out) and where keys and the like are handed over. Sometimes the term closing is used to refer to the period of time between the signing of your contract and the time you actually sit at the closing table.

2. Why do I want to use a title company run by an attorney?

By having an attorney owned title company working for you, you have the legal expertise of an attorney to represent you without any additional cost. You have a legally trained expert examining the title to your new property who can not only spot problems but fix them as well.

Often times, during the course of your closing certain issues arise. An example might be an encroachment that is found on your survey (like your neighbor’s fence is on YOUR property). If you are at a Non attorney owned title company, you would now have to find yourself a lawyer to represent you and remedy this situation. The title company itself can not legally do this because they are not permitted to represent anyone by engaging in the practice of law. At BUYER’S TITLE, we are owned and operated by attorney’s who are available to help out when situations like these arise. Their knowledge and expertise are at your disposal at all times.

3. I'm buying my house "as is", why do I need inspections?

Although you keep buying your house "as is", you still want to make sure you are purchasing what you THINK you are purchasing. Have our in-house attorney review your contract for you to explain what rights you do or do not have in this situation. Remember, you are under no obligation so feel free to ask your questions.

4. Who needs title insurance?

Your Lender will insist on title insurance in the amount of the mortgage loan. You, however, as the owner should also insist on having title insurance. Your insurance would be for the amount of the purchase. Unlike other insurance policies, there is only a one time premium for title insurance. For that premium, your title to the property will be insured FOREVER. This will protect you from claims that may arise during your ownership as well as ones that may not even surface until you are ready to sell your property.

5. What is title insurance?

The point of title insurance is to secure your claim to property and to protect you against a hidden defect. If you are forced to defend your title in court, the insurer agrees to pay the costs. An OWNER’S TITLE POLICY will cover you if someone contests your insured title in a legal action and will protect YOU if there is a defect in your title. Some examples of reasons that people may make claims against YOU would be if there are clerical errors made at the courthouse when earlier documents were recorded, if there is an incorrect legal description on yours or prior deeds, if there were judgments against prior title holders that were not properly taken care of, if instruments prior in time were signed by mentally incompetent persons. These are only a sampling of possible problems that COULD arise which you would be protected against with Title Insurance.

6. If I purchased title insurance for my mortgage, isn’t that enough?

No, Mortgagee Title Insurance ONLY protects your lender for the amount of the mortgage but it in no way protects YOUR rights. For example, a claim arises as a result of an improperly probated will from a prior owner. You decided not to get Owner’s Title Insurance because you thought the Mortgagee Policy was sufficient. You are now brought into court (at YOUR expense) because a claim is being made on your policy. You then lose the case. Your mortgage gets paid as a result of the Mortgagee policy but you lose your home and are out of pocket all of your legal expenses. Remember, Title Insurance is different from all other insurances. You do NOT pay premiums every year. You pay ONE TIME and are covered FOREVER…even AFTER you sell your property.

7. Where and when can I close my deal?

At BUYER’S TITLE we are willing to close your deal almost anywhere you want us to. While our office is conveniently located right off I-595 in Plantation, Florida, we are willing to travel to YOU if that is more convenient. As for "WHEN" can you close your deal? That all depends upon your contract or what you and the seller can agree upon to change that date. The sooner you get your information to us, the sooner we can do our title examinations so we are ready to close whenever you are.


8. Where are you located ?

We have 2 locations for your convenience.

Plantation - 100 South Pine Island Road, Suite 201, Plantation, FL 33324. (954) 915-8450

9. How long does it take from start to finish?

Again, this question depends largely upon you. If you are paying cash for your new purchase and there is a prior title insurance policy upon which we can rely, we can close your deal within days. If you are taking out a mortgage, once you are approved, from THAT point, we can close your deal in days.

10. How long is the actual closing ?

At BUYER’S TITLE, your closing should not take more than 30 minutes. All of us have heard horror stories about fights breaking out at closing tables over issues that "just come up". That does NOT happen here. At BUYER’S TITLE, closings are not scheduled until all issues are resolved. Whether this means we have to spend hours on the phone with mortgage companies, sellers, other attorneys or you, all issues will be resolved PRIOR to closing. That means that when the closing is scheduled, you can come to closing confident that your deal will be successful and easy.

11. Can i see my closing status on line?

We at BUYER’S TITLE pride ourselves on being on the cutting edge of Real Estate technology. We employ a full time computer programmer who is currently working with others to develop and integrate into our programs a method by which you can not only get your closing STATUS on line, but also view all your documents on line.

12. What happens after I close ?

At closing, you will receive copies of certain documents such as the deed, and other instruments which must get recorded. After they are recorded, some go to the lender but others, such as the deed will be mailed to you. Along with the original deed, you should expect to receive your FINAL OWNER’S TITLE POLICY.

Another detail that needs to be taken care of is your homestead application. You must apply for homestead by March 1, to be eligible for your homestead exemption for the following year. This is a detail that is often forgotten, so please, do it now so you won’t have to think about it anymore.

13. What is a hud 1 and why do I care?

At closing, you will be required to sign a HUD-1 (also known as a Settlement Statement). This is a Government required and approved document that sets forth EVERY charge in connection with your closing. It sets forth who has to pay what charges, who gets credit for what and ultimately, will tell you how much money you must bring, or get at the closing table.

14. What do I need to bring to closing?

At closing you will be required to sign certain documents which must be notarized. As such, the notary will need proof of identification. In other words, PHOTO ID. A drivers license with your picture will do just fine. If you are married, and you are taking out a mortgage, your spouse must also come with you and bring PHOTO ID. Additionally, you will need to bring a CERTIFIED OR CASHIER’S CHECK for the amount indicated by your closing agent.

15. If my spouse is not going to be on the deed, why does he/she need to be at the closing?

Although your spouse is not on the deed, if you are taking out a mortgage, your he/she will be required to join in the mortgage acknowledging that the mortgage exists on the property. In Florida, we have certain homestead laws which are part of the Florida Constitution. These laws provide for restrictions on the transfer of homestead property. In it’s simplest terms, homestead property is a person’s primary residence. Due to these laws, a spouse is required to join in the execution of a deed or mortgage of homestead property owned by the other spouse or such a transfer may be voided.

Likewise, if you are the seller of the property, EVEN if your spouse is not on the deed, your spouse must sign the deed upon the sale of the property.

16. But you’re in ft. Lauderdale, how can you close my deal in orlando?

At BUYER’S TITLE we conduct closings throughout the entire state of Florida. From our technologically advanced office in Fort Lauderdale, we have the ability to search the public records and obtain the documents we need from any other county.

After years of experience in the real estate field, we have developed working relationships with people in the industry such as appraisers, inspectors, surveyors and anyone else you would need to be put into contact with.

For your closing, We will travel to YOU.

17. Do you do owner & encumbrance reports?

While we at BUYER’S TITLE are not in the business of providing Owner & Encumbrance Reports, our owners Murray Shepard & David Leskar of SHEPARD & LESKAR, P.A. do provide this service for many of the major lending institutions throughout the state.