Why Choose Us
Learn What Our Real Estate Title Group Can Do for Buyers
Buying a new home or investment property is a huge step, and you want to make sure every document is properly researched, drafted, and recorded so there are no difficulties later on. You want to work with a trusted, professional real estate title group for buyers whose skill and experience you can rely on. That’s who we are at Pillar Title Group.
Buyer’s closing costs are all the costs you must pay on the day of a real estate closing. These can include property taxes, title insurance premiums, survey costs, attorneys’ fees, private mortgage insurance (PMI), escrow for insurance and taxes, lender fees and points, and any other dollar amount stipulated in the signed sales agreement or closing statement. A buyer should be made aware of these line-item costs in a final closing statement that your Lender will provide you with. Your Closing Disclosure should be provided 3 days (per TRID guidelines) before closing to showing you your figures. Some of those figures might change and that is where, Pillar Title Group will provide your final Cash to Close the day before closing (only if we have everything from the lender, first). You should review this statement closely and make sure that you’ve been credited for any deposits you’ve made or Earnest Money Deposits you’ve put down. You’ll also want to make sure that all calculations are correct.
We are here to help you prepare any necessary documentation and to act as an escrow agent and even go so far as to represent you in a closing should you ever move away. We will do all we can to make your real estate closing experience is seamless and efficient. We work hard to anticipate and avoid any obstacles and ensure that your home purchase is a positive and rewarding experience.
Our firm is willing to travel wherever needed in Northeast Florida to perform closings so it’s convenient for you. We’ll make sure the title is quickly and accurately verified. We also offer reasonable fees and do not include any unnecessary “junk fees.” We pride ourselves on providing customized, personable service.
Keep in mind, too, that real estate agents, realtors, and title companies are not allowed to provide legal advice. They can cite requirements, but under the law, they are not allowed to engage in any interpretation.
Contact Pillar Title Group at 904-206-7036 for affordable and simple solutions that won’t break your bank. With us, you’ll get great quality work for a great value, and no unnecessary fees.
We Provide Services to All Parties Involved in the Title Process, Including:
SELLERS: If you have questions about contracts, creating deeds, negotiating transaction terms, and so much more when selling a house, Pillar Title Group can help.
BUYERS: The housing market experiences it’s share of ups and downs and can be a stressful time for the buyer. We will work with you to uncover any hidden issues that may impede your ability to successfully purchase a home and make the process as smooth as possible.
LENDERS: Once buyers and sellers have agreed to a transaction, this is where a lender’s work is usually necessary. If you have questions about the agreement laid out, our team can help determine answers and provide direction for many issues that are uncovered.
REALTORS: Having Pillar Title Group as an asset at your disposal can set a realtor apart from the competition. Our team is affiliated with a law firm located in Jacksonville, allowing us to quickly answer questions your clients have during the home buying and selling process. When a quick and correct answer can make or break a deal, you need all tools at the ready.
The Most Common Title Problems Buyers May Encounter
Every property has a history, and many properties have title issues. These issues can cause serious delays and extra expense, so it’s important to identify common title problems, like:
Errors in Public Records
Errors can go so far as to negatively affect your ownership rights. Clerical and/or filing errors in the public record can bring about financial problems as you work to resolve them.
Unknown Liens
Although the prior debt on the home may not be something you believe you are responsible for, financing companies and even banks can place liens on your home. They may even do this after you have closed on a sale.
Illegal Deeds
There may be a deed in your current property’s history that was filed or created illegally. This can affect past and present ownership.
Missing Heirs
A missing heir may come out of the woodwork to contest a will and attempt to enforce property rights. This is another way a common title problem may negatively impact your potential rights to your property.
Forgeries
Forged documents may have been filed in the public record in the past, potentially affecting your rights to your property in the present day.
Undiscovered Encumbrances
You may discover, with time, that your property has an undiscovered encumbrance. A third party may be holding a claim to a part of your property or, in some instances, the entire parcel. This could be the result of a previous mortgage, a lien on the property, non-financial claim, restriction, or covenants limiting the use of your property.
Unknown Easements
You may also discover an unknown easement that could potentially affect your right to enjoy your property. Perhaps other parties have been granted an easement to access different parts of your property.
Boundary and Survey Disputes
You may be unaware of a prior adverse possession claim to a portion of your property. Additionally, surveys may exist that dispute the reality of your property boundaries. A competent Florida title group for buyers can help uncover these claims.
Undiscovered Will
You may face issues with your property rights if you were sold a property whose previous owner died without a will but whose will is later found, specifying details that include potential rights to the property.
Our real estate title group for buyers can help you plan ahead to avoid common title problems.
Typical Title Expenses in a Florida Real Estate Transaction
When closing on a home, buyers pay about 2% to 5% of the loan amount in closing costs, and the main cost is a title fee.
“Title” is defined as the right to own and use the property. Title fees, on the other hand, are a group of fees associated with closing costs. These fees pay a title company so they can review, adjust, and provide insurance for the title of the property.
Some typical expenses in a real estate transaction fee related to titles include:
Title Search Fee
A title search is when public records regarding the property are thoroughly examined to discover the property’s rightful owner, claims and liens on the property, and other potential claims. If you’re wondering “What does a title group do for buyers?” — identifying these potential obstacles to sale is one of their most important roles. This search can cost up to $200, but it will depend on different factors. The current owner will usually pay this fee as part of their selling costs, but not always.
Title Settlement Fee
The title settlement fee is also known as a closing fee. This is a charge from the title company to try to cover the administrative costs of closing. Costs here generally cover escrow, survey and notary fees, deed preparation fees, and other fees that relate to a title search.
Lender’s Title Insurance
Lender’s title insurance protects the issuer of a loan from any potential claims on the property. The buyer is not protected, and lender’s title insurance is commonly required by mortgage companies. Expect to pay between 0.5% to 1.0% of the sale price.
Owner’s Title Insurance
Owner’s title insurance is designed to protect the owner in the event that a lien or claim on the title is discovered during the transfer process. Owner’s title insurance is not required, but it is recommended as an added security measure.
Attorney Fees
Payments to an attorney compensate them for their advice and the preparation of all necessary paperwork.
Abstract and Recording Fees
The abstract is the summarized results of the title search from the title company. It lays out the details of the search, includes information regarding all of the relevant and official documents, and presents them in a summary that’s easy to comprehend.
Abstract of title fees can range anywhere from about $400 to over $1,000, depending on the circumstances of your case and whether a new abstract of title is required. On the other hand, recording fees are the costs that are associated with filing deeds and other official documents with the county public records. This charge tends to be about $125.
Our real estate title group will be there to help you understand any and all expenses and fees. Give us a call at 904-206-7036.
What Should a Buyer Bring to a Closing in Florida?
While the answer to this question will vary based on your individual circumstances, generally you’ll want to ensure that you have:
Your Photo Identification
Your signature will need to be notarized, and photo identification is always required when notarizing any document. Bring your driver’s license or passport, for example, as photo identification in order to prove your identity. You will most likely need to sign various title and loan documents and have each signature notarized.
An Appropriate Amount of Funds
An appropriate amount of funds may sound subjective, but it’s still crucial to bring to a closing. Your title group or the escrow company will determine the amount of money you need to bring to the closing.
Try to bring a little more than what they suggest, in case any unexpected additional costs arise at closing. All except minimum amounts should usually be wired to the escrow company. Try not to rely on a check before confirming that the escrow company will take it.
Separation Agreements and Divorce Orders (If Applicable)
A separation agreement or a divorce court order could negatively affect your purchase in some states.
Any Revocable Living Trust
Bring a copy of the trust document to the closing if this applies to you, but contact your attorney first for further information.
Documentary or Transfer Stamps
Ask the escrow company, or state officials whether you must purchase stamps and if there are prerequisites that must be followed before purchase.
Check with our Florida title group for buyers to make sure you’re not missing anything you should bring to the closing.
Buyers’ FAQs About Florida Titles
Our Title Group for Buyers Answers Common Questions About Florida Titles
Have questions about the title process? Here are some of the most common questions we hear from clients:
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You may be asking yourself, “What does a title group do for buyers?”
A Florida real estate title group for buyers will usually begin by reviewing any contracts you provide them. The real estate title group will also ensure that both the buyer and seller have fulfilled their obligations as set forth or written out in the contract, including terms involving payments and other crucial information.
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A title transaction is any document or court record that identifies a property and indicates its ownership or transfer. A transfer of a deed by sale would be an example of a title transaction, but it could also include the record of a property handed over as an inheritance or even seized by authorities, such as for failure to pay taxes.
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Purchasing a home warranty can help reduce some of the financial burdens that many new homeowners deal with upon learning that an appliance or an entire system in their home has malfunctioned.
Home warranties are service contracts designed to pay the cost of potential repair and replacement of a wide array of covered items. These include major kitchen appliances, like the stove or refrigerator, and household systems such as:
- Electrical
- Plumbing
- Heating
- Air conditioning.
Structures (windows, doors, etc.) are usually not covered with a home warranty.
Separately, a home warranty won’t cover losses that you receive as a result of your home’s being damaged from theft, a house fire, or other disasters.
Our real estate title group for buyers can give you more information about home warranties.
We’re glad you are no longer wondering, “What does a title group do for buyers?” You might instead want to learn how you can get a title group on your side as soon as possible.
You’ll be happy to know that Pillar Title Group is based in the Sunshine State of Florida, and we proudly offer our services throughout Northeast Florida.
Why Choose Us?
Learn What Our Real Estate Title Group Can Do for Buyers
Keep in mind that real estate agents, realtors, and title companies are not allowed to provide legal advice. They can cite requirements, but under the law, they are not allowed to engage in any interpretation. Additionally, Florida real estate law is messy and difficult to navigate.
We are not only here to help you prepare any necessary documentation; we are also here to act as an escrow agent and even go so far as to represent you should you ever move away.
Contact Pillar Title Group at 904-206-7036 for affordable and simple solutions that won’t break your bank. With us, you’ll get great quality work for a great value, and no unnecessary fees.
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