Title Insurance in Florida – Broward vs. Palm Beach

In the State of Florida, the party in a real estate transaction who must pay for Title Insurance varies from county to county. In most counties in the state, the seller pays for the Title Insurance policies and chooses the title company that will handle the closing under the terms outlined in the real estate contract.

The only exceptions to this are Broward, Collier, Miami-Dade, and Sarasota counties.

To give you a better understanding of the difference between these two ways of determining who pays for what in a real estate transaction, we are going to take one country from each “side” and compare them to study their differences. Here are some important details about Title Insurance in Broward vs. Palm Beach.

What Are the Differences?

The main difference between the Title Insurance regulations in Palm Beach and Broward is the party that pays for the policy and gets to choose the title company who will handle the closing.

In Palm Beach, it is the seller who chooses the Title Insurance Company and generally pays for the Lender’s Title Insurance policy. In Broward County, however, the buyer pays for the policy and chooses the title company. Additionally, the buyer will have to pay for his or her Owner’s Title Insurance policy.

When it comes to Owner’s Title Insurance, there are no major differences between Palm Beach and Broward. In most cases, this policy is the buyer’s responsibility, unless the real estate contract provides otherwise.

Why is it Important to Understand the Differences?

When buying a home in Florida, it is vital to know who is required to pay for Title Insurance in the county where the property is located. This will help you know how to proceed in the closing process.

In the State of Florida, the party who pays for the Title Insurance policy gets to choose the Title Company that will manage the transaction. This means that if the property you are buying is located in Palm Beach County, you will have to wait for the seller to select a title company.

Why is Choosing a Reliable Title Insurance Company Vital?

Whether you are buying a home in Palm Beach or Broward County (or any other county), you will always need a reputable and reliable title company to handle your closing regardless of the size of the property or the type of transaction. The benefits of choosing an experienced title company like Marina Title include:

• Security

Professional escrow and title officers will handle all the closing documents and financial transactions while keeping your personal and financial information private and secure.

• Compliance

Your title company will handle all closing procedures in compliance with the Consumer Financial Protection Bureau standards and the American Land and Title Association regulations.

• Efficiency

The closing process will be completed in the most efficient way within the agreed-upon timeframe. A title company can help you save time and, therefore, money.

• Management

You will be able to keep track of the entire closing process through our 24/7 online transaction management and communication platform, which you can access via your computer or a mobile device.

• Customer Service

We will provide unique, personalized services designed to fit your specific goals and circumstances. Our title experts will carefully explain all documents, forms, procedures, and transactions to you.

Get in Touch with Marina Title for a Professional and Memorable Closing Experience

To get answers to all your questions about Title Insurance in different counties in Florida and learn more about our services, call us today at (305) 901-5628 or send us an email to [email protected] to schedule an initial consultation.