Why Trust Us?

Doing right by others is instilled in our DNA. Real Estate is a passion of ours and we eat, sleep, and breathe real estate. Each of us here at Spectrum Title have unique experience in real estate that we bring to the closing table - pun intended. We are resolution oriented in times of need and can provide rapid response to our clients when emergencies occur, as they often do since COVID-19. Additionally, we are attorney-owned and have two full time attorneys on staff to assist with title and legal issues that may arise in a real estate transaction or refinance transaction.

What is Title Insurance and Why do I need it?

Title Insurance is an insurance policy on real property.  As Title Agents, it is our responsibility to ensure that at Closing, the buyer is receiving clear and marketable title to the property - which means that the buyer is taking title to the property free of any mortgages, liens, encumbrances or anything affecting title to the property.  Title Insurance allows you to have peace of mind knowing that your title insurance policy protects you from unpaid mortgages, unpaid taxes, child support liens, missing ownership interests and other items that may limit your use of the property.  If you are obtaining financing from a lender, you will also be required to obtain a Lender's title insurance policy - which protects the lender's interest in the property.  A simultaneous title insurance policy for a lender will cost you additional fees, but will not require you to pay the whole title insurance premium rate for both policies - we call this a simultaneous issue rate.  Please contact us directly should you have any questions regarding your title insurance premium amounts - we are more than happy to help you understand your title insurance rates. 

Why do we request wiring funds over checks and cash?

We require wire transfer of funds for our cash to close because we need to ensure that the funds clear our escrow account. We act as disbursement agent once everyone has signed and the closing is complete. Often times, we are responsible for paying off the Seller’s current mortgage or a Borrower’s current mortgage in a refinance transaction. Another reason is the sourcing of funds if you are a borrower obtaining a mortgage. Lenders want to make sure that the money came directly from the borrower obtaining the loan.

What can I expect? What do I need to do?

From Contract to Closing, we are dedicated to reviewing and clearing up any items that affect title to your property.  Upon receiving a fully executed Contract, the processing of your transaction begins.  We will order a title search, municipal lien search, survey, and estoppel letters, if applicable.  If you are a Seller and are in possession of your title insurance policy, a reissue credit may be available, which can save money on the title insurance premium - however, a reissue credit may not always be available if you've owned your home for more than three years.  We welcome any inquiries or questions related to processing your transaction or real estate in general.

Who sets the rates for Title Insurance?

Title Insurance rates are set by Florida Statute and cannot be inflated from one title company or law firm to another. The Title Insurance rate depends upon the purchase price and/or loan amount and is collected at Closing. Title insurance operates differently from other insurance products that you may be used to seeing - such as homeowner’s insurance, auto insurance, renters insurance, etc. - which offer various rates and companies compete against each other. Title Insurance policies include a one-time payment made at Closing, which insures the Buyer’s ownership of the property after Closing.

Please feel free to reach out to us with questions on rates and fees - we are more than happy to provide you an estimate of your closing costs.