Industry Insights
Latest news, expert tips, how-to guides, and insights to
help you navigate real estate closings with confidence
Common Title Issues in Florida and How Title Companies Resolve Them
Buying or selling a home in Florida is exciting, but it can come with unexpected challenges—especially when it comes to your property’s title ...
Top Questions Sellers Ask About Title Companies in Florida
If you're selling a home in Florida, you’ll likely hear a lot about title companies—especially as you approach the closing table...
Who Pays Closing Costs in Tampa Bay?
Navigating closing costs is one of the most complex aspects of a Tampa Bay real estate transaction. With Florida consistently ranking among...
Protecting Your Closing: How to Avoid Real Estate Wire Fraud
Buying or selling a home is an exciting milestone—but in today’s digital world, it's also a prime target for sophisticated cybercriminals. Real estate wire fraud is one of the fastest-growing threats in the industry, with scammers stealing millions from unsuspecting buyers and sellers every year. At First Title Source, your peace of mind matters, and we want to help you protect your closing every step of the way.
What Is Wire Fraud in Real Estate?
Real estate wire fraud typically involves a criminal impersonating a trusted party—like your title company, real estate agent, or attorney—to trick you into wiring funds to a fraudulent account. It often occurs during the final days before closing, when you're expecting to receive wire instructions and ready to move quickly.
Common Signs of a Scam
Watch for these red flags in emails, texts, or phone calls:
- Urgent requests to “act quickly” or “wire immediately.”
- Last-minute changes to wire instructions.
- Email addresses or phone numbers that are slightly misspelled or unfamiliar.
- Requests to send funds to a person or business not previously involved in the transaction.
How to Protect Yourself
Following a few smart steps can greatly reduce your risk of wire fraud. Here’s what we recommend:
- Confirm Instructions Directly: Always call your title company using a verified number to confirm wire instructions—never trust them via email alone.
- Be Skeptical of Changes: Legitimate businesses rarely change wire instructions at the last minute. If they do, verify in person or by phone.
- Use Secure Email: Avoid sending sensitive information from public Wi-Fi or unsecured devices.
- Double-Check URLs & Emails: Scammers often mimic domain names. Look closely for typos or unusual formatting.
- Ask Questions: A trustworthy title company will never mind you double-checking before transferring your hard-earned money.
Our Commitment to You
At First Title Source, LLC, we use industry-leading security practices to ensure your funds and information are protected. We’ll never change wire instructions without verifying with you by phone, and we’re here to answer your questions at every stage. When in doubt—call us. We’d rather have you double-check than take any chances.
Common Title Issues in Florida and How Title Companies Resolve Them
Buying or selling a home in Florida is exciting, but it can come with unexpected challenges—especially when it comes to your property’s title. Title issues can delay closings, cause confusion, or even threaten ownership rights. Fortunately, experienced title companies play a vital role in identifying and resolving these problems to ensure your transaction goes smoothly.
What Are Title Issues?
Title issues are defects or claims that affect the ownership of a property. They can range from simple clerical errors to serious legal disputes. Identifying these problems early is crucial to avoid costly surprises during closing.
Common Title Issues in Florida
- Liens and Judgments: Outstanding debts or court rulings against the property or previous owners, including unpaid taxes or contractor fees.
- Missing Heirs or Unknown Ownership: Unclear ownership due to deceased owners or inheritance disputes.
- Boundary Disputes and Easements: Conflicts over property lines or rights to use parts of the land.
- Clerical Errors and Incorrect Legal Descriptions: Mistakes in public records, misspelled names, or incorrect property details.
- Fraudulent Documents: Forged deeds or false claims that cloud ownership.
How Title Companies Resolve These Issues
Title companies act as problem solvers, using their expertise to clear the way for a clean title transfer. Here’s how they help:
- Thorough Title Search: A detailed examination of public records to uncover liens, judgments, or ownership issues before closing.
- Resolving Liens: Working with lienholders to pay off debts or negotiate releases so the title can transfer free and clear.
- Clearing Up Ownership: Investigating heirs, heirs-at-law, and related documents to clarify rightful ownership.
- Correcting Errors: Coordinating with county offices to fix mistakes in legal descriptions, names, or recordings.
- Fraud Detection: Using advanced verification techniques to spot fraudulent activity and halt suspicious transactions.
- Title Insurance: Providing insurance that protects buyers and lenders from future claims or defects not discovered during the search.
What This Means for You
Working with a knowledgeable Florida title company means you’re not alone when issues arise. Their proactive approach saves time, reduces stress, and protects your investment. Whether you’re a first-time buyer or an experienced investor, a clean title is key to peace of mind and a successful closing.
If you have questions about title issues or want to learn how First Title Source, LLC can guide you through your next Florida real estate transaction, contact us today.
Top Questions Sellers Ask About Title Companies in Florida
If you're selling a home in Florida, you’ll likely hear a lot about title companies—especially as you approach the closing table. For many sellers, the title process feels unfamiliar or even confusing. That's why we’ve put together answers to the most common questions Florida home sellers ask about working with a title company. With a little guidance, you’ll feel confident and prepared every step of the way.
1. Do I Get to Choose the Title Company?
In Florida, the party who chooses the title company often depends on the county or what's agreed upon in the purchase contract. In many parts of the state, it’s customary for the buyer to choose. However, sellers can always request to work with a title company they trust—and experienced agents often negotiate this on your behalf.
2. What Does a Title Company Do for the Seller?
Title companies handle more than just the buyer’s paperwork. For sellers, they:
- Gather and verify information about ownership and legal status of the property
- Prepare your payoff statements, mortgage satisfaction, and lien releases
- Handle document signing and notary services
- Distribute your proceeds after closing (via wire or check)
- Ensure all legal and financial matters are closed cleanly and professionally
3. How Much Does the Seller Pay?
Title-related costs can vary based on local customs and contract terms. Sellers in Florida typically pay:
- Documentary stamp tax on the deed
- Owner’s title insurance (if customary in your county)
- Title search and related fees (if negotiated)
- Real estate agent commissions
Your title company will provide a detailed settlement statement outlining all your costs well before closing day.
4. What If There’s a Lien or Title Issue?
If there’s a lien, judgment, or other issue on your title, the title company will work closely with you to resolve it. They may:
- Coordinate lien payoffs or negotiate releases
- Clear old mortgages or errors in public records
- Help correct ownership discrepancies or legal documents
Their job is to ensure a clean title transfer so you can sell your home without any surprises.
5. When Will I Receive My Proceeds?
Sellers typically receive their funds on the same day as closing—either by wire transfer or certified check. Your title company will confirm your preferred method and securely disburse your proceeds after all documents are signed and any mortgages or liens have been paid off.
Selling a home is a big moment, and the right title company helps everything run smoothly. If you’re selling property in Florida, First Title Source is here to guide you with trusted service, clear communication, and timely support—every step of the way.
Reach out to our team to learn how we can assist with your closing.
Who Pays Closing Costs in Tampa Bay? A 2025 Guide for Buyers & Sellers
Navigating closing costs is one of the most complex aspects of a Tampa Bay real estate transaction. With Florida consistently ranking among states with the highest closing costs nationwide—averaging 2.3%–5% for buyers and 8%–10% for sellers—understanding Tampa's unique landscape is critical. This guide breaks down local practices, negotiation strategies, and cost-saving tips.
How Closing Costs Work in Tampa Bay
Closing costs are fees paid to finalize a real estate transaction beyond the purchase price. While Florida law doesn't mandate who pays specific fees, Tampa has developed customary practices:
- Buyers typically pay 2-5% of purchase price ($8,500-$21,000 on $350k home)
- Sellers typically pay 6-10% of sale price ($21,000-$35,000 on $350k home)
- Title insurance follows local customs (seller pays owner's policy in most Tampa Bay counties)
Buyer Closing Costs Breakdown
Tampa Bay buyers typically cover costs tied to mortgage financing and property due diligence:
- Loan fees: 0.5%–1% of loan amount (origination, underwriting)
- Prepaids: 6–12 months of insurance/taxes into escrow
- Inspections: $400+ for home/pest inspections
- Lender's title policy: ~$3.50 per $1,000 of value
- Recording fees: $10+ per page in Hillsborough County
Seller Closing Costs Breakdown
Tampa sellers shoulder the highest expenses, primarily from agent commissions and transfer taxes:
- Realtor commissions: 5%–6% of sale price (standard split)
- Documentary stamps: $0.70 per $100 ($2,450 on $350k sale)
- Owner's title insurance: ~0.5%–1% of sale price
- Title search: ~$1,235 average in Hillsborough County
Tampa Bay Title Insurance Customs
Unlike many states, Tampa Bay follows distinct title insurance traditions:
- Sellers pay for owner's title policy (protects buyer)
- Buyers pay for lender's title policy (protects bank)
- 2025 rate decrease: Average 4.5% reduction coming October
Negotiation Strategies for Buyers
Savvy Tampa buyers use these tactics to reduce costs:
- Request 3%–6% seller concessions (FHA/VA allow up to 6%)
- Shop multiple lenders and title companies
- Close near month-end to minimize prepaid interest
- Ask about title company package deals
Cost-Saving Tips for Sellers
Tampa sellers can minimize expenses with these approaches:
- Negotiate agent commissions (some brokers charge 2%–2.5%)
- Request itemized title fee quotes
- Factor closing costs into asking price upfront
- Offer home warranty instead of repairs ($500 average)
2025 Tampa Closing Cost Updates
Recent changes affecting Tampa Bay transactions:
- New flood disclosure requirements ($100-$300 additional cost)
- Pending title insurance rate reductions (4.5% average decrease)
- Increased recording fees in Hillsborough County
Understanding Tampa Bay's closing cost landscape helps both buyers and sellers budget effectively and negotiate smarter. With proper preparation, you can avoid surprises and ensure a smooth transaction.
Contact our title experts for a personalized closing cost estimate.