The question of who chooses the title company in a real estate deal comes up often. In short, the contract dictates which party gets to select the title company (also known as the closing agent or settlement agent). There are, however, local County customs that come into play which act as a customary guide to which contract provision is typically selected.
In most Florida counties, the property’s seller typically selects the title company and pays for the owner’s title policy. The buyer would still be responsible for paying for the lender’s policy, which protects the mortgage lender from future title disputes. When the seller selects the title company, the buyer is forced to work with the title company of the property seller’s choosing.
That’s not true for all Florida counties, particularly in South Florida. In Miami-Dade, Broward, Collier, and Sarasota counties, for example, it is more common for buyers to select the title company, and therefore pay for the Owner’s title insurance.
Choosing the right title company is a significant aspect of a real estate transaction because the title company does a lot more than sell title insurance. The title company facilitates the entire real estate transaction, including holding funds in escrow, ordering title searches, lien searches, surveys, estoppel letters, lien releases, loan payoffs, communicating with all parties, scheduling the signing, disbursing funds to the seller, recording the deed and mortgage, and making sure all of this happens within the timeline required under the contract. As you can see, there are MANY moving parts to coordinate, so having a competent, reputable title company quarterbacking your deal is key to a successful, on-time closing.
At Butler Title, we specialize in creating seamless real estate transactions and closing on schedule. We exclusively focus on title insurance and the real estate closing process, while prioritizing customer service, because our clients need this kind of specialized service. Our buyers and sellers know their deals will be clear to close without unnecessary delays.
In addition to serving as a closing agent, we go a step further and give our clients a way to save money at closing. For example, we give Florida’s Butler Rebate to every client on every deal, saving hundreds (or thousands) on their title insurance premiums, whether they ask for it or not. No need to ask, no need to qualify - every client saves with the Butler Rebate.
When you’re looking for a title company to manage your next closing, we invite you to visit our website or call us to learn more. We strive to be the kind of company previous customers want to work with again and again.
Butler Title is a full-service, attorney owned and operated title insurance agency. We keep it simple and focus on what we do best: real estate closings. From first-time buyers to local moguls, BT provides an industry-leading fee structure and unparalleled experience.
P: 954.616.8735 F: 954.206.1097
Comments