Why choose Consumers First Title?

Consumers First Title offers more than 20 years of knowledge and experience in the title insurance industry and has the financial strength and resources from two of the industry’s top insurers, Old Republic National Title and Fidelity National Title. We are committed to each and every individual Realtor®, lender and consumer and strive to put the consumers best interests first. After all it’s in our name!

We keep our clients informed every step of the way and strive for excellence and 100% customer satisfaction at every closing.

    • Flat Fee Guarantee – Closings can be confusing and complex, Consumers First Title wants to simplify things for the consumer. That’s why we offer a “Flat Fee” settlement fee. Just one fee plus the cost of the title insurance itself.
    • On time and efficient closings onsite at one of our three convenient South Florida locations or remotely at the agent or lenders office, even at the borrower’s home or office. We also offer a secure video closing service and traditional mail-away services, the choice is yours!
    • Security – Protecting your data is our top priority. Consumers First Title is vetted and verified by SSI and compliant with all the industry’s best practices, standards, state and federal laws and regulations.
    • Consistent communications with all parties involved in your closing.
    • Relaxed, stress-free atmosphere.
    • Real Estate Closing Experts in South Florida and Beyond.
  • Our team of professionals understand the complexities of the local market and have worked through many real estate transactions. We provide title insurance for clients anywhere in Florida. When you work with our team, you can expect: 
  • A full explanation of costs and fees. 
  • Cooperation with other professionals. 
  • Assistance with escrow, title and closing paperwork.
  • Quick turnaround times. 

Residential

Whether you are a first-time homebuyer or an investor, you will appreciate the fact that Consumers First Title truly puts you, the consumer, first. We assist you from beginning to end and work with all parties involved to ensure that your deal closes on time without complications.

Our first-class customer service, coupled with our reasonable rates, are only two great reasons to utilize our services the next time you are purchasing or refinancing a home.

Commercial

Consumers First Title can close any commercial transaction in the state of Florida. We offer superior service, a customer-focused staff, consistent quality, resourcefulness and professionalism. This, backed by the financial strength of our underwriters, assures you a safe, smooth and seamless commercial transaction.

Reverse Mortgage

A reverse mortgage enables older homeowners (62 and over) to convert part of the equity in their homes into tax-free income without having to sell the home, give up title or take on a new monthly mortgage payment. The reverse mortgage is aptly named because the payment stream is “reversed.” Instead of making monthly payments to a lender, as with a regular mortgage, a lender makes payments to you. At Consumers First Title, we have the knowledge necessary to make sure your reverse mortgage closing is as smooth as any other.

Refinance

For many homeowners, there are large benefits to renewing the mortgage process on an existing home. Typically referred to as mortgage refinancing or a second mortgage, reapplying for a new loan can help you save money, earn cash, and lower your monthly payments. When you decide to refinance, call us! We have exceptional rebates on title insurance for current homeowners on top of our great rates.

1031 Exchanges

1031 Exchanges provide investors with one of the best tax strategies for preserving the value of an investment portfolio. By using an exchange, the investor is able to defer the recognition of capital gains taxes that would otherwise be incurred on the sale of investment property. The investor can then use the entire amount of the equity to purchase substantially more replacement property.
At Consumers First Title, we have an abundance of knowledge when it comes to these types of transactions and work seamlessly with the Intermediary to ensure that your Exchange is completed within the necessary timeframes. We work directly with your Intermediary to consummate a seamless exchange through closing.

Important Things to Know in a 1031 Exchange Transaction

  • It is best that you contact Consumers First Title (“CFTC”) before you begin the process of looking for a home.
  • Once you have contacted CFTC and find a home you would like to purchase, any deposit that you make on that home will held by CFTC. 
  • To the extent that you need to make an offer on the home, CFTC will guide you in the preparation of your offer. 
  • Once your offer is accepted, any additional deposits will also be held by CFTC. 
  • Once a contract is signed, the friendly staff of CFTC will assist you with any additional arrangements necessary prior to closing. 
  • The staff at CFTC will take charge and make sure that there are no liens on the property, the taxes have been paid and any association fees or dues have also been paid. 
  • CFTC will then prepare a closing statement for your review, collecting all the costs and credits that you are entitled to as a purchaser of the home. 

Need guidance or a referral for an Intermediary? Call us! We work with several great companies and can provide you with several referrals.

FIRPTA

FIRPTA and the Withholding Tax on US Real Property

FIRPTA stands for the Foreign Investment in Real Property Tax Act. This Act is enforced by the Internal Revenue Service. Foreign national sellers have specific requirements that apply to them when selling U.S. real property. If a seller is not a U.S. citizen or resident, FIRPTA requires a prepayment to the Internal Revenue Service of a withholding tax on the real property. How does FIRPTA affect foreign national sellers? Here is a brief explanation of the withholding tax regulation on real property and the limited exceptions:

Does FIRPTA apply to me?

Effective February 1, 2016

BUYER INTENDS TO USE
AS A RESIDENCE? SALES PRICE IS
$300,000 OR LESS SALES PRICE IS GREATER THAN
$300,000 & NOT OVER $1,000,000 SALES PRICE IS OVER
$1,000,000
Yes Exemption* 10% withholding 15% withholding
No 15% withholding 10% withholding 15% withholding
*If an exemption is being taken under above guidelines and no remittance is being sent to the IRS, a buyer must sign an “Intent to reside” affidavit at closing.

Important Information Regarding FIRPTA Transactions

Who is responsible for sending the 15% tax to the Internal Revenue Service?
The title company is required to send the funds to the IRS within 21 days of closing.

Does FIRPTA apply to individuals or corporations?
FIRPTA applies to both foreign national, non-resident alien individuals, and companies. This includes foreign companies that may be registered to do business in the U.S., but are still regarded by the Internal Revenue Service as foreign entities for tax purposes. Individuals holding U.S. citizenship, passports, or green cards, are exempt from withholding. Certain other visas may be exempt, but please consult your tax advisor or Certified Public Accountant (CPA) for more information

Should I hire a Certified Public Accountant to help me with FIRPTA?
Yes. FIRPTA applications and returns can be a complicated process, riddled with delays and nuances. In addition, frequent follow up is required. If you need guidance or a referral for an accountant call us! We can provide you with several referrals.

When should I start the FIRPTA process?
Immediately. As soon as the individual or company is considering selling the real property, they need to start planning for FIRPTA.

Short Sales

Consumers First Title is here to assist you and give guidance during the foreclosure process. We can work directly with your real estate agent or refer you to one of our preferred agents that short sale certified.

A short sale is viable when the owner is in financial distress. The transaction can be negotiated, and the sale is approved by the mortgage holder(s) even though the property will sell for less than what is owed. 

Some of the advantages of selling your house through a short sale are: 

  • It is less stressful than foreclosure.
  • Your credit rating can be preserved.
  • Your other assets can be preserved.
  • In some instances, the mortgage holder offers incentives or relocation assistance. 

Call us today at 954-340-5150 to see if you are a short sale candidate.  

Substitution Rate Refinancing 

Consumers First Title offers Substitution Rate Refinances for referred refinance clients. 

As a mortgage professional, you can feel good referring your clients to us knowing not only will your customer get the best customer service but also the best possible rates. Consumers First Title prides itself on being an industry leader and a business partner to all our clients. Helping you, help your clients save money is what it’s all about!

Call us at 954-340-5150 and ask for Michele or email us at orders@cftitleco.com today.

BETTER RATES, BETTER SERVICE, BECAUSE YOU AND YOUR CLIENTS DESERVE BETTER! 

Substitution Rate Loans 

When the SAME BORROWER and the SAME LENDER make a substitution loan on the SAME PROPERTY, the title to which was INSURED BY AN ISSUER in connection with the previous loan, the substitution loan premium rates for the substitution loans may apply. 

Premium Rates for Substitution Loans 

AGE OF PREVIOUS LOAN PREMIUM RATE DISCOUNTS 
3 years or under 30% of the original rates 
From 3 to 4 years 40% of the original rates 
From 4 to 5 years 50% of the original rates 
From 5 to 10 years 60% of the original rates 
Over 10 years 100% of the original rates 

Better Than Reissue Rates 

Provided a previous OWNER’S POLICY was issued insuring the seller or mortgagor in the current transaction and that both the re-issuing agent and the re-issuing underwriter retain their respective file copies of the prior owner’s policy(ies), substitution loan rates can be given and are almost always better than a reissue credit.

Quit Claim Deeds

A quit claim deed is an instrument used by a grantor to relinquish the grantor’s interest in real estate, in favor of a specified grantee. The quit claim deed is an instrument that does not come with any warranties of title, and should the grantor not possess title in the property attempting to be conveyed, or should there be a title defect, then the grantee acquires either nothing or the property subject to the cloud on title. In any event, the grantee will have no recourse against the grantor under the quit claim deed. For the reasons stated, the quit claim deed is an instrument best used to deed oneself out of the title to property, or as a curative instrument to clear a title defect, but not an instrument by which a grantee should acquire title to real property.
Important limitations and problems with quit claim deeds: The conveyance by quit claim deed is not insurable as part of a closing transaction. Additionally, a grantor of property who conveys the property via quit claim deed, loses the benefit of any Owner’s Title insurance that the grantor may possess.
Avoid common mistakes and title problems created by using store bought or online forms! Consumers First Title can provide professionally prepared Florida Quit Claim Deeds at a low cost that can be recorded in County public records.

Call us today! With just some basic information we can get started and even offer same day appointments and expedited recording if necessary.

Once you make the decision to work with us, you can expect to work with a team that will trust and respect your transaction and a focus on your satisfaction.   

 

 

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