Question 1

What is title insurance?

Accepted Answer

Title insurance is an actual insurance policy that protects an owner and/or lender against a loss as a result of a title defect. The title insurance agent's underwriter will reimburse the insured in the event of a loss up to the amount of the purchase price for the owner and up to the amount of the mortgage for the lender. Unlike most other types of insurance, title insurance is a one-time premium paid at closing.

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Question 2

Do I need title insurance? What could go wrong?

Accepted Answer

Yes, you need title insurance. If you are obtaining a loan, the bank will require you to obtain title insurance. Title insurance protects you against loss from:

Question 3

What is the cost for title insurance?

Accepted Answer

The title insurance rates are established by the Florida Department of Insurance. The rate they set is called the promulgated rate, which is the minimum rate title insurance companies must charge. There are generally several other charges in addition to the title insurance, such as title search and examination, closing fee, endorsements, and courier fees. For the exact cost of your title insurance fees, we would need to know the purchase price and other details. You can use our Seller Net Sheet Calculator for an instant estimate, or contact us for a precise quote.

Question 4

Why use Independence Title instead of another title company?

Accepted Answer

Independence Title has been in business for nearly three decades and has an excellent reputation in the real estate community. With Independence Title, you get the services of a title company with the participation of an attorney at no extra charge.

Question 5

What does a seller net sheet show?

Accepted Answer

A seller net sheet is a detailed estimate of the costs you'll pay when selling your property and the net proceeds you'll take home after closing. It includes title insurance premiums, documentary stamp taxes, recording fees, real estate commissions, outstanding mortgage payoffs, and pro-rated property taxes. Use our free Seller Net Sheet Calculator to run the numbers instantly.