Frequently Asked Questions

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. 

Most closings handled by JK Title Services are held in our main office in Miramar, FL. If the buyers or sellers are unable to come to our office, the closing can be held at any location convenient to the parties. JK Title Services can conduct your closing in your home, at your business, or at almost any other location. 

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. 

For most people, a real estate closing is the biggest financial transaction of their lives. Title insurance is assurance 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. 

 A Lender’s policy of title insurance provides the Lender with assurance that, at the time of the loan closing, the borrower held clear title to the real property collateral used to secure the loan and that the mortgage taken by the Lender has the priority required by the Lender. Title insurance for a lender is often required by applicable federal regulations. In addition, a Lender’s title policy must be in the lender’s loan file when the originator of a mortgage sells the mortgage on the secondary market. 

 Although the matter is subject to negotiation between the parties, in Florida, the custom varies from county to county.  In Broward and Miami-Dade Counties, the buyer generally pays the title insurance premium for the owner’s policy and the lender’s policy.  In Palm Beach County, the seller generally pays the title insurance premium due for the buyer’s owner’s policy, but the buyer pays the costs of the lender’s policy.