Questions about choosing a Title Company

Here in Lee County, you as a seller have the right to choose the Title Company to handle the closing of your property. At times, sellers choose to let their Realtor help aid in this decision.   Here are some frequently asked questions that we often here from our clients:

“What coverage do I need?”

The average policy is pretty standard. Owner’s policies typically protect against a number of contingencies, like forgery, fraud, spousal claims, and undisclosed heirs. Lenders policies will protect them against lien position and against loss should a title problem arise. A lender’s policy ONLY protects the lender, NOT the owner.

“Who usually pays?”

The party responsible for paying for the two policies varies from state to state and sometimes from county to county. In some areas, the buyer may pay for one; the seller, the other. That doesn’t mean if the buyer pays, he can’t haggle for all or part of his costs, everything is negotiable. In Lee County, the seller usually picks and pays for title insurance for the new owner, while the buyer will pay for any lender’s policy in connection with a loan.

” How is a Title Company chosen?”

If you are paying for the title insurance, you have the right to select which ever title company you prefer. Though if you’re not paying, but want to be able to choose the company, be prepared to share some of the costs. Your Realtor  if represented by one, will also help with this decision if need be.

“How is a closing date chosen?”

A closing date is chosen by the buyer on the real estate contract once presented to the seller. If all accept, then the “close date” on the contract will rule. However, in certain circumstances, this can be amended.

Still have questions…

We are here to answer. call Title Junction at 239-415-6574.


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Jennifer Ferri, Owner

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