Palm Harbor Title Company Serving Pinellas County

Many clients who come to our law firm and Pinellas County title insurance agency have questions about RESPA, which is the Real Estate Settlement Procedures Act. RESPA was passed into law in the mid-1970s in an attempt to bring added transparency and consumer protections to the real estate buying process. RESPA also addresses fees, as full transparency is required in this regard too.

The TILA-RESPA Integrated Disclosure rule – also known as TRID – created a bit of a discrepancy between the disclosed title premiums and Florida promulgated rates. As a result, you must complete a settlement statement. This must be completed in order to comply with the established rules and guidelines. Your South Florida title agent will see to it that relevant documents, including repair documents, surveys, appraisals and homeowner’s insurance policies are provided in order to prevent unnecessary delays in your transaction.

Pinellas County home buyers are often unfamiliar with title insurance, especially if they’re purchasing a home for the first time. Title insurance protects the owner and/or the lender’s financial interests in the property, guarding against losses that could result from liens or title-related problems. Title insurance secures your right to use the property in a legal manner.

Before a policy is issued for a property in Tampa or Pinellas County, title agent Kimberly Hensley will perform a comprehensive evaluation into the property’s history. She will determine if any parties have a rightful claim to the real estate, such as an heir who is linked to a prior owner. Your title agent will also determine whether there are any liens against the property, which can arise due to a debt or failure to pay taxes. These situations can delay your closing, so it’s important to ensure that all issues are properly investigated. If no problems exist and the title is “clean,” title insurance will be issued.

In Florida, title insurance is an essential part of the home buying process, and it will help you find peace of mind so you can move forward with your purchase in confidence.

Prior to your closing, you must review all documents. Take the time to read the papers and be sure to ask questions if there is anything you don’t understand. A licensed title agent is a valuable resource and ally during the home buying process.

You must also remember to bring along at least one form of government-issued photo ID. Suitable forms of identification include a driver’s license, passport or a state-issued identification card.

In some cases, there may be a pre-payment stipulation as part of your lender’s contract. These fees are typically due at the closing.