Deciding on a title company can be complicated and sometimes confusing.

You want someone who will provide insight, service and respect.

You want a company that will always be there when you need them.

This is what you will find at Closing Time Title, Inc.


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Common Questions & Answers

Here are examples of some common title insurance questions. We will update this page frequently, so be sure to check back!

Q: What you should do before your closing.
  • Make sure you are aware of your lenders requirements and that you have satisfied those requirements.
  • Be sure to arrange for your hazard/fire insurance once your loan has been approved. Then call your loan officer with the insurance agent's name and phone number. You must have insurance in place before your lender will prepare the closing package.
  • If you will not be available at the time of closing, please contact your closing agent and give them the address and phone number where you will be so they can send the papers to you.
  • You'll need to wire funds payable to the title company for the remainder of the purchase price. Get the exact amount of the balance due from your closing agent or realtor before you come to closing.
  • Please bring either your valid drivers license, passport, or picture ID with you to the title company. This is needed so that your identity can be verified by the notary public. It's routine, but a necessary step for your protection.

Q: What is title insurance?

A: Title insurance protects you from losses resulting from defects of title. There are two basic types of policies: Owner's policies to protect the owner and Loan policies to protect the bank's mortgage.

Q: I paid for a title search - Why do I need title insurance also?

A: A title policy insures against many defects which could not be discovered in a title search, as well as insuring against errors made in the title search itself.

Q: What is a short sale?

A: A short sale occurs when the proceeds of a real estate sale fall short of the balance owed on the property. In a short sale, the bank or mortgage lender agrees to discount a loan balance due to an economic or financial hardship on the part of the mortgagor. This negotiation is all done through communication with a bank's loss mitigation department. The home owner/debtor sells the mortgaged property for less than the outstanding balance of the loan, and turns over the proceeds of the sale to the lender, sometimes (but not always) in full satisfaction of the debt. In such instances, the lender would have the right to approve or disapprove of a proposed sale.

Extenuating circumstances influence whether or not banks will discount a loan balance. These circumstances are usually related to the current real estate market climate and the individual borrower's financial situation.

A short sale typically is executed to prevent a home foreclosure. Often a bank will choose to allow a short sale if they believe that it will result in a smaller financial loss than foreclosing. For the home owner, the advantages include avoidance of having a foreclosure on their credit history and the partial control of the monetary deficiency. Additionally, a short sale is typically faster and less expensive than a foreclosure. In short, a short sale is nothing more than negotiating with lien holders a payoff for less than what they are owed, or rather a sale of a debt, generally on a piece of real estate, short of the full debt amount. It does not extinguish the remaining balance unless settlement is clearly indicated on the acceptance of the offer.

863-420-8080 | close@closingtimetitle.com



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Office Hours:
Monday - Friday
9:00 am - 5:00 pm
42731 Hwy 27
Davenport, FL  33837
Phone: 863-420-8080
Fax:  863-424-0977