Buying a home is the most important investment that most people will ever make. Title insurance guarantees that a buyer will receive the ownership interest that was bargained for, and that the transfer of ownership is completed smoothly and expeditiously. It is the most effective, most accepted, and least expensive way to protect a buyer’s ownership rights.
Since its inception, First Choice Title Associates, Inc., has provided the best in people and technology to ensure that real estate transactions close in a friendly, efficient, and professional manner. Our prosperity and continued growth can be attributed to our focus on what has made us successful: our satisfied customers. Our Staff of committed professionals is focused on giving our clients a competitive edge in their marketplace.
First Choice Title Associates, Inc. is an industry leader serving all of Florida. Personalized, efficient service is at the heart of what we do. We believe in doing whatever it takes to close even the toughest real estate transactions smoothly and on time. It is our quality people that make it happen.
Our Goal is simple –
Get the transactions Closed on Time, Every Time!
Having a plan before disaster strikes is the best way to stay safe. We know and practice this from the time we’re young. Fire, tornado and earthquake drills are all used to help us avoid danger. In the world of title insurance and real estate settlements, one of the biggest threats to our customers and business is wire fraud. It involves schemes to intercept wired funds that are being transferred during real estate transactions. Real estate wire fraud is one of the largest cybercrimes in the United States, with more than 9,600 victims losing over $56 million in 2017 alone, according to the FBI.
Source: Stop. Call. Verify: The Wire Fraud Drill | Old Republic Title
The Cost of Title Insurance is Worth the Investment
Whenever there’s an article in the news about title insurance, all too frequently there is criticism about the cost. This perception occurs because there are fewer claims with title insurance compared to other forms of insurance. The higher percentage of claims an insurance company pays should not be equated with the value and cost of the policy. This is especially true with title insurance.
Most types of insurance cover incidents that may occur in the future, which is the case with health, life, auto and homeowner’s insurance. The cost of these policies is based on the insurers’ estimation of how much they will likely pay out in claims over a given period, plus administrative costs and a reasonable profit. The volume of claims is typically high with these types of insurance.
Title insurance, on the other hand, is based on loss prevention, which means that a much larger percentage of the premium dollar is spent preventing title problems from occurring. These upfront costs cover searching, identifying and eliminating risks that could result in a future claim.
A typical title search involves searching the public records, including visits to the offices of recorders or registers of deeds, clerks of courts and other officials, and the company’s own title plant. Title professionals look for such things as second or third mortgages, judgments, liens, street and sewer system assessments, special taxes and levies, and numerous other matters. No other line of insurance does this level of due diligence before issuing a policy.
Read More at http://www.homeclosing101.org/the-cost-of-title-insurance-is-worth-the-investment/
TOP 10 THINGS Real Estate Agents Should Know About the New TILA-RESPA Integrated Disclosures (TRID)
Are you ready for the new changes starting on October 3rd 2015?
We are. Contact us with any questions.
Homebuyers took out purchase contracts on homes in May at the fastest pace since near the peak of the housing market nine years ago, the National Association of Realtors (NAR) reported.
The trade group’s pending sales index rose 0.9 percent in the month to 112.6 percent, which was up just over 10 percentage points from the May 2014 level. The index is based on contract signings of roughly 20 percent of all existing home sales.
Pending sales have risen for nine consecutive months to the highest level since April 2006, when the index was pegged at 113.7, NAR said.
via Pending home sales rise to near-record level, Realtor group reports – Scotsman Guide.
June’s landmark U.S. Supreme Court decision that made same-sex marriage legal nationwide could raise demand for home mortgages as gay and lesbian couples gain confidence in their property rights, advocates say.
Couples will no longer face grey areas when buying a home in states where their marriages were not recognized, and should find it easier to place their partners on a title, or add a spouse to a Veterans Affairs (VA) loan.
Advocates also say the decision could indirectly help gays and lesbians by formalizing their status as married in every state, eliminating special categories that may lead to discrimination in the housing and mortgage markets.
The court ruled that states must license same-sex marriages and also recognize those performed in other states.
Landmark same-sex marriage decision could boost mortgage demand – Scotsman Guide.
The developer of the Mall of America in Minnesota, Triple Five, recently released renderings of a $4 Billion, proposed mega-mall coming to Miami, dubbed American Dream Miami. American Dream Miami Mall is anticipated to be the largest mall in the entire country, surpassing the now largest Mall of America in Minnesota. This mega-project will be situated on approximately 200 acres at the intersection of the Turnpike and I-75 and will include residential condo residences and luxury hotel units. This highly-anticipated project will also include water ballet fountains, an indoor theme park, waterpark and beach, submarine ride, aquarium with live reef, a ferris wheel that will overlook the ocean at the top, an ice-skating rink, simulated ski slopes, a Legoland and a 16-screen theater.
Largest Mall in America Coming to Miami? | Miami Luxury Homes Blog.
According to Knight Frank’s new Global Wealth Report for 2015, London is still the most important global city for the world’s ultra-high-net-worth individual (UHNWI), followed by New York and Hong Kong, but changing fortunes across the global over the past 12 months has seen Hong Kong and Singapore continue to slug it out for pole position in Asia.
for Super Wealthy – WORLD PROPERTY JOURNAL Global News Center.
Sales of distressed homes (REO and short sales) fell to their lowest level in seven years and foreclosure inventory dropped by 34 percent year-over-year in December 2014, according to CoreLogic‘s February 2015 The MarketPulse report released on Tuesday.
Distressed home sales (REO and short sales) made up 12.8 percent of total home sales in December 2014, the lowest percentage reported for any one month since December 2007 at the beginning of the financial crisis. December’s percentage was a 2.8 percent decline from the same month a year earlier and a decline of 1.2 percent from a month earlier, according to CoreLogic. REO sales accounted for 8.8 percent of December’s distressed home sales share while short sales accounted for 4 percent.
Distressed Home Sales, Foreclosure Inventory Decline Substantially – DSNews.
With weakening global currencies, fewer Latin American and European buyers are investing in Miami condos, but Asian and domestic buyers are helping fill the gap. This is according to the Miami Downtown Development Authority’s (DDA) just-released First Quarter Greater Downtown Miami Market Residential Real Estate Market Study conducted by Integra Realty Resources (IRR).
Even as the number of condos under construction, unit sale prices and rental rates soar, Greater Downtown Miami’s real estate market is in the early stages of a healthy stabilization. The condo market is reaching the point of equilibrium where supply is catching up with demand, as sales from Latin America begin to hit a plateau and construction costs rise.
First Choice Title Associates, Inc. 