What is a closing?

In a purchase, a closing is when the parties meet to sign all papers needed to transfer title of the property from the seller to the buyer. In a refinance, a closing is when the borrower signs the papers needed to put the new loan into effect.

Where will my closing be?

Most closings handled by Empire Title are held in our main office in Aventura, Florida. If the buyer or seller are unable to come to our office, the closing can be held at any location convenient to the parties. Empire Title can conduct your closing in your home, at your business or at almost any other location.

Do I need to be present at the closing?

If you are unable to attend the closing, Empire Title can make arrangements to send all of the papers to you by courier. Many times, Empire Title conducts closings for people who are outside of Florida. All of the papers will be sent with detailed instructions about how to complete each document. After you sign all of the papers, you can send them back to Empire Title in the return envelope that we provide.

What do I need to bring to the closing?

All borrowers, buyers and sellers need to bring some form of picture identification. A driver's license or passport is fine. For a buyer, it's always a good idea to bring another form of identification as well, such as a Social Security card.

What time of day will my closing be scheduled?

Most closings are held during Empire Title's regular business hours of 8:30 a.m. to 5:30 p.m., Monday through Friday. We realize that people work and are sometimes unable to attend a closing during those hours. For those people, Empire Title offers closings at night or on weekends.

Why do I need title insurance?

For most people, a real estate closing is the biggest financial transaction of their lives. Title insurance guarantees that you will be the owner of the property you purchase. Title insurance protects you from any claims made against your ownership after you buy the property.

Do I have to renew my title insurance coverage every year?

No. Title insurance provides coverage for an unlimited period of time for one payment. Unlike homeowners insurance or automobile insurance, title insurance does not have to be renewed every year.

I am refinancing my loan. I received a title insurance policy when I bought my property. Why is my new lender requiring another title insurance policy?

When you purchased your property, you received an "owner's" title insurance policy. An owner's policy protects you from claims against your ownership. The lender received a "lender's" policy. A lender's policy protects the lender from title claims against your property. When you refinance, the new lender will require a new lender's title insurance policy to protect the lender's interest in your property. The new lender's title insurance policy will provide title insurance protection to the lender in the amount of your new loan. The owner's title insurance policy you received when you bought your property will remain in effect.

Why is a title search conducted?

By law, title to property can be affected by various common events. For example, if a property owner dies, files bankruptcy, owes taxes, loses a lawsuit, gets a loan, violates building code provisions, commits a crime, gets married, gets divorced or becomes mentally incapacitated, title to that person's property might become impaired. To determine whether any problems exist, a title search is conducted. The title examiner will review all documents recorded on the public records that might relate to the property. If the documents disclose a title defect, the professionals at Empire Title, relying on their vast experience, take further action to resolve the issue. The closing will be scheduled after all title problems have been cleared.

Do I need a property survey?

Most lenders will require a survey for your purchase of new property. For a refinance, we can use the survey that was prepared when you originally bought the property. The survey shows the exact location of your real estate. It also shows any easements and encroachments that might affect your use of the property. A survey and elevation certificate are usually required before flood insurance can be obtained. A survey is also needed if you wish to add an improvement to your property, such as an additional room, a fence or a swimming pool. In those cases, the survey will be required as a condition to obtaining governmental approval for the issuance of a building permit.

Why should my closing be conducted by Empire Title?

Quite simply, because Empire Title provides the best service available anywhere in Florida. As an attorney-owned and attorney-operated title company, Empire Title's customers benefit from the over 24 years of extensive legal experience of its president, Richard Breger. Empire Title prides itself on its excellent reputation for outstanding customer service. For any buyer, seller, lender or real estate agent, there's no other choice than Empire Title.