Frequently Asked Questions

Title insurance protects you from financial loss if someone challenges your ownership of a property. It covers defects in the title that existed before you purchased, including undisclosed liens, forgeries, recording errors, and unknown heirs. In Florida, title insurance is a one-time premium paid at closing that protects you for as long as you own the property.

Florida title insurance premiums are promulgated (set by the state) under FL Admin Code Rule 69O-186.003. The rates are tiered based on the coverage amount: $5.75 per thousand for the first $100,000, $5.00 per thousand from $100,001 to $1,000,000, and lower rates for higher amounts. No title company can charge more or less than the promulgated rate. Use our Title Premium Calculator to see your exact cost.

In most Florida counties, including Hillsborough, Pinellas, Pasco, and Polk, the seller customarily pays for the owner's title insurance policy. In a few counties like Sarasota, Miami-Dade, Broward, and Collier, the buyer customarily pays. This is negotiable in the contract regardless of county custom.

Documentary stamp taxes (doc stamps) are transfer taxes paid when real property changes hands. On deeds, the rate is $0.70 per $100 of the sale price ($0.60 in Miami-Dade County), paid by the seller. On mortgages/notes, the rate is $0.35 per $100 of the loan amount, paid by the buyer. These are calculated by rounding the amount up to the next $100.

The nonrecurring intangible tax is a one-time tax of 0.2% (two mills) of the mortgage amount, paid by the buyer at closing. For example, on a $300,000 loan, the intangible tax would be $600. This tax applies to all new mortgages recorded in Florida.

A standard residential closing in Florida typically takes 30 to 45 days from contract to close. Cash transactions can close in as little as 7 to 14 days. The timeline depends on factors like the title search, lender requirements, survey, and inspections. Coastal Collective Title works proactively to keep your closing on schedule.

Bring a valid government-issued photo ID (driver's license or passport). If you are wiring funds, have your wire confirmation ready. Your closing agent will provide a settlement statement in advance so you know the exact amount due. Do not bring a personal check for large amounts; certified funds or a wire transfer are required for amounts over $1,000.

A title search examines public records to confirm the seller has the legal right to sell the property and to identify any liens, encumbrances, easements, or other issues that could affect ownership. Our team searches courthouse records, tax records, and other sources to verify the chain of title. Any issues found are resolved before closing.

Wire fraud is one of the biggest threats in real estate today. Criminals hack email accounts and send fake wire instructions to steal closing funds. Coastal Collective Title will NEVER change wire instructions by email. Always verify wire instructions by calling our office directly at 813-544-8626 using a number you have on file, not one from an email.

Yes. Coastal Collective Title handles commercial real estate transactions including office, retail, industrial, multifamily, and mixed-use properties. We also coordinate 1031 exchanges, multi-parcel closings, and entity conveyances. Contact us to discuss your commercial transaction.