Services & Basic Title Info

We Provide:

• Residential Sale/Purchase Settlements 
• Residential Refinances 
• Commercial Sale/Purchase Settlements
• Title Search 
• Title Insurance
• Mobile Settlement Service at Dade & Broward Counties.

What Does Title Mean?

Title is the foundation of property ownership. It defines your right to possess and use your property. It is composed of rights and interests that are:

1. Disclosed in public records, by physical inspection or through deeds, restrictions, mortgages and utility easements.
2. Not recorded, but exist like limitations imposed by laws and statutes.
3. Hidden or fraudulent - for example: forgeries, unknown heirs or secret marriages.

Every title is made up of many different rights and interests that, at different times, have been owned by different people or entities. A "chain of title" is simply the history of ownership on a particular piece of property. It is possible that someone other than the owner may have a legal right to or interest in the property. If that right can be established, this person can make a claim to the property or make demands on you with regard to its use.

What is Title Insurance?

Title insurance is an insurance policy which protects you against financial losses should your rights and interests in your property be challenged by someone else's claim of ownership or use. In addition to insuring you against financial loss, title insurance will also pay the cost of defending you against a covered claim.

Even after the most exhaustive examination of the chain of title, there may be "hidden" defects which were not revealed. In such an instance, title insurance is the only way to protect your interest in your property. In many counties at the state of Florida, title insurance is provided by the seller of the property to the buyer. It is a one-time premium that is usually a part of the sellers closing costs.

How Does Title Insurance Work?

Before any real estate transaction is closed, our title officers search the public records to determine the status of the title on the property being purchased. In some cases the examination may extend to surveys or a physical inspection of a property. The issues a title search may uncover are unpaid taxes or mortgages, judgments against previous owners, mechanics lien, easements or other court actions or recorded documents which can affect your ownership. The first benefit you receive when title insurance is ordered is the results of the title search, so that any of these types of issues are corrected prior to your purchase.

Preferred Alliance Title stands behind its title search by issuing you a Commitment for Title Insurance, which reflects the condition of the title at the time, including matters of public record that could lead to a claim against the title. Further, the title commitment states the conditions that our insurance underwriters, all nationally respected title insurance companies, will insure against, providing there are no changes in the title record prior to closing. Your title insurance assures you that the land ownership rights that come with your real estate investment remain yours for as long as you have an interest in your property. If you encounter a problem with your title, your title insurance policy is there to protect your interests.

What is a Closing? What to Expect and What to Bring:

A closing of a real estate transaction is the meeting, usually held at your escrow officer's office, where final documents pertaining to the sale/purchase of a piece of property are reviewed by the interested parties, signed as required and funds conveyed to complete the transaction. Many people may be present at a closing: the buyer, the buyer's sales associate, the seller (or builder), the seller's sales associate, the lender or lender's representative, and the escrow officer.

In the past, it was common to have both parties close in a joint meeting, however, with today's busy schedules, many closings occur separately: the buyer and their representatives reviewing and signing documents in one meeting and the seller and seller's representatives signing at another time. These meetings usually take about an hour for each party, with the buyer providing "good funds" in the form of a cashier's or certified check to cover the down payment and closing costs. After recordation, the keys are passed on to the buyer and the proceeds from the sale are conveyed to the seller, and any outstanding mortgages are paid off on behalf of the seller.

If you are the buyer, be sure to bring the following to closing:

• A current government issued photo ID such as a passport, drivers license or military ID card.
• A cashier's or certified check, made payable to your escrow company, for the amount specified by your escrow officer. This amount usually includes the balance of your down payment, closing costs and recording fees.
• A copy of your new homeowner's insurance binder if not already provided to escrow prior to this meeting.

If you are the seller, please bring:

• A current government issued photo ID such as a passport, driver's license or military ID card.
• Your Social Security number for 1099 reporting.
• House keys to all doors and garage door openers if applicable.

In the weeks following closing, the buyer will receive the original deed that has been recorded. It will be mailed directly from the County Recorder's Office. Within several months of closing, buyers will also receive a copy of their Title Insurance Policy, paid for at closing, effective the date of recordation and issued by your title insurance company.