Mortgage brokers bridge the gap between aspiring homeowners and title insurance to secure financing. While they primarily focus on securing financing for their clients, they should also be aware of common title issues that can impact a smooth transaction process. At Guaranteed Florida Title, Escrow & Abstract, Inc., we understand the critical role that mortgage brokers play in the real estate industry. We've been serving Florida's real estate professionals since 1995. Keep reading to learn more and contact us to learn more!
Title Liens and Encumbrances
Liens can have implications for mortgage title companies and title insurance for mortgage lending. These can include unpaid debts, judgments, or outstanding property taxes that may affect the property's clear title. As a mortgage broker, it's crucial to collaborate closely with a reputable title company to conduct a thorough title search and address any existing issues promptly. By identifying and resolving these concerns early in the process, you can prevent last-minute surprises that might jeopardize your client's mortgage approval.
Boundary disputes can lead to costly legal battles and delays in the home-buying process, which may also affect title insurance when refinancing. Mortgage brokers should encourage their clients to obtain an up-to-date survey of the property to confirm property boundaries. Working with a qualified real estate attorney and a title company that specializes in resolving boundary disputes is key to preventing such issues from derailing the transaction.
Easements are rights granted to third parties that may affect a property's use or access, which can be of concern for mortgage title companies and title insurance for mortgage lending. It's essential to conduct a thorough review of the property's title report to identify any existing easements.
Undisclosed or Clouded Title
Title issues can create major hurdles in the closing process and may impact title insurance when refinancing. As a mortgage broker, you should stress the importance of a comprehensive title insurance policy to your clients, whether they are purchasing a new home or refinancing an existing one. By working with a trusted title insurance company like Guaranteed Florida Title, Escrow & Abstract, Inc., you can provide your clients with the peace of mind that they are protected from any hidden title defects that may arise after the purchase or during refinancing.
Ready to provide your clients with a stress-free home-buying experience or a smooth refinancing process? Partner with Guaranteed Florida Title, Escrow & Abstract, Inc. today. Contact us to discover how we can assist you in addressing title issues.