Yes, buyers and sellers have the right to choose which title company they want to have insure their interest and provide settlement services for the deal. We are proud to say that Zing Title is 100% independently-owned. That means all of our business is by referral, and we will handle each transaction with care and [...]
Escrow refers to the process in which the funds of a transaction (Earnest Money Deposit, Water Escrow, Seller Proceeds) are held by the title company, pending the fulfillment of specific instructions or closing of the transaction.
The time it takes to get to a closing of a real estate transaction is largely determined by the contract between the parties and the time needed to get lender approval if a mortgage is involved. In a typical residential transaction, most contingencies (other than financing and sale of the Purchaser’s residence) can be removed [...]
“Closing Costs” is a catch-all term that refers to the expenses involved in closing a real estate transaction. These costs are determined by the contracts between the parties, applicable laws and local customs. The following explanation of “closing costs” is based upon our sample Real Estate Purchase Contract.
Once the contingencies of the purchase contract have been satisfied and the borrower’s loan is approved, the closing documents are prepared to finalize the deal. The parties then agree on a time and date to finish the transaction. At the closing, documents are signed, monies collected and all items are disbursed. The seller gets any [...]
After the customer opens a title order, our experts at Zing Title do a title search. A preliminary report called “a title commitment to insure” is given to all parties of the purchase agreement for review and approval. At the closing, the title policy is created and given to the customer.
Title insurance protects against claims from defects. Defects are things such as another person claiming an ownership interest, improperly recorded documents, fraud, forgery, liens, encroachments, easements and other items that are specified in the actual policy. These things could cost the owner a lot of money to fix unless they are insured.
Title insurance protects real estate owners and lenders against any property loss or damage they might experience because of liens, encumbrances or defects in the title to the property. Each title insurance policy is subject to specific terms, conditions and exclusions. There are two types of title insurance policies – an owner’s policy and one [...]
Simply stated, the title to a piece of property is the evidence that the owner is in lawful possession of that property. In Florida, the seller must convey marketable title to a purchaser.
Frequently Asked Real Estate Transaction Questions A Real Estate Transaction, when done properly can be a good experience. It can also be very difficult if you don't understand all the moving parts or terminology of the real estate transaction. So we have developed a list of “frequently asked questions” to assists you. Our responses are [...]