Homeowners Associations in Florida

Stephanie Sutton, Bartow, FL

Stephanie Sutton  is a title company located at 295 Hwy 17 N., Bartow, FL NULL. See full profile and details below.

Questions To Ask Your Title Company

Real Estate agents often try to help their clients by referring homebuyers to a title company, but consumers are ultimately responsible for selecting a title insurance provider. Keep in mind, also, that there is more to selecting a title insurance provider than price alone. The quality and type of services provided by the title and closing company can make the difference between a smooth transaction and one that never makes it to the closing table.

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Title Agent  
Stephanie Sutton  
NULL  
295 Hwy 17 N.  
Bartow  
FL  
NULL  
[email protected]  
(863) 533-0640  
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Homebuyers will want to ask the following questions of any title insurance company before agreeing to use their services:

  1. Who is your client? The answer you are looking for is “you”. However, the answer usually depends on who referred the title company to you. If it was your lender, the title company will probably tell you that they represent the lender. If the title company was referred to you by your real estate agent, the answer might be the real estate agency – probably because the title company is OWNED by the real estate agency and therefore has a vested interest in closing your purchase because that’s the only way the agency earns a fee. These arrangements are legal if properly structured and disclosed. The consumer, however, is often best protected when there is no conflict of interest or financial incentive for the referral of title business.
  2. Do you conduct thorough title searches and disclose the results to the homebuyer? Will you discuss them with the homebuyer? This question is very important! 1 out of 4 transactions has a cloud on title at the time of the commitment. It’s imperative that homebuyers work with title companies who take the necessary steps to identify, disclose, and resolve all issues prior to closing.
  3. Is my money safe? The way a title company handles its escrow funds is of utmost importance. The news stories you read are true: People do lose money as a result of incompetent, insolvent, or dishonest title and escrow companies. What internal controls, procedures, and segregation of duties do the title companies have in place to safeguard buyers’ and sellers’ funds? What procedures do they use to balance escrows? Do you know enough about this company to wire $150,000 or more, of your own money to this company? A reputable title company will be happy to talk about their controls for protecting clients’ funds — after all, it’s their business.
  4. Treasurer - The treasurer receives and deposits in appropriate bank accounts all monies of the Association and disburses such funds as directed by resolution of the Board of Directors. The treasurer signs all checks of the association; is keeper of the books of account; cause an annual audit of the Association books to be made by a public accountant at the completion of each fiscal year; and prepares an annual budget and a statement of income and expenditures to be presented to the membership in compliance with the civil code, and delivers a copy of each to the Members.