FAQ

Title insurance protects you, as a homeowner or property buyer, from any potential issues that may arise with the ownership of your property. It ensures that the title (legal ownership) of the property you're purchasing is valid and free of any liens, encumbrances, or other disputes. Understanding the two main title insurance policies:

• Owner's Policy: This protects the buyer's ownership rights for as long as they or their heirs own the property.
• Lender's Policy: This protects the lender's interests in the property, ensuring their investment is secure until the mortgage is paid off.

Both policies provide coverage if a title defect or dispute arises, such as undisclosed heirs, clerical errors in public records, or fraudulent claims.

When you purchase property, you want to ensure no one else can claim ownership or interest. Title insurance safeguards you from potential legal disputes that can surface after completing the transaction. Even with a thorough title search, hidden issues—like previous ownership claims, tax liens, or mistakes in public records—can arise. Title insurance helps protect your investment from such risks.

Without title insurance, you would be financially responsible for any legal fees or losses resulting from challenges to your ownership.

A title search is essential to the closing process and helps ensure that the property you buy has a clear title. This search involves:

• Reviewing public records to verify the seller's ownership of the property
• Identifying any claims, liens, judgments, or easements that may affect the property
• Checking for any outstanding taxes or mortgages that could impact the sale

At Nautica Title USA, we conduct a thorough title search to ensure no surprises after the purchase. If any issues are found, we work to resolve them before closing.

The process of closing on a property can vary depending on several factors, including the transaction's complexity, the title's condition, and the responsiveness of all parties involved. On average, the process takes roughly 30 to 45 days from the purchase agreement signing until the final closing.

However, it could take longer if title issues arise, or additional documents are needed. At Nautica Title USA, we strive to make the process as efficient as possible and keep you informed throughout each step.

For a smooth closing process, there are several vital items you'll need to bring, including:

• A valid government-issued ID (driver's license, passport, etc.)
• Certified funds or a cashier's check for closing costs and any remaining balance due (as indicated on the closing disclosure)
• Any paperwork requested by your lender or attorney (such as proof of homeowner's insurance)

As our team has advised, buyers and sellers should also bring any documents specific to their transaction.

Closing costs are essentially the expenses incurred during the transfer of property ownership. These typically include:

• Loan origination fees
• Title insurance premiums
• Recording fees
• Attorney fees
• Survey costs (if required)
• Appraisal fees
• Escrow deposits for taxes and insurance
• Homeowners’ association (HOA) fees (if applicable)

If any issues or defects are found during the title search process, our team will work diligently to get them resolved before closing. Some common title issues include:

• Liens from unpaid taxes or contractor work
• Disputes over property boundaries or access rights
• Claims from missing heirs or previous owners
• Errors in public records, such as incorrect filings

Resolving these defects may take some time. In extreme cases, the sale may be delayed or canceled until the title is clear. Fortunately, title insurance protects against these problems, giving you peace of mind as a buyer or lender.

In some states, hiring a real estate attorney is required to close a real estate transaction; however, in Florida, an attorney is not needed when closing. At Nautica Title USA, we work closely with your attorney (if you choose to hire one) to make the closing process seamless. However, if you prefer not to use an attorney during closing, our experienced team can guide you through every step of the process.

Yes, as the buyer, you can choose your own title company. While some sellers or real estate agents may have recommendations, it's ultimately your decision. At Nautica Title USA, we pride ourselves on delivering high-quality, personalized service, and we're always here to assist you with any questions or concerns you may have.