When investing a significant amount of money into commercial real estate in Florida, you want to ensure you clear the title and receive full ownership of the property, avoiding potential losses in the future. Most importantly, you need trustworthy and competent title insurance company like MylesTitle to perform successful closing. You can count on MylesTitle to provide a wide range of all-encompassing commercial title services, including relevant documentation preparation, title search, deeds of trust, title insurance, property easement agreements, zoning certification, escrow, closing services, and many more. If you plan on purchasing a commercial property in Florida and need help with protecting your investment, book your consultation today!
With 50 years of industry experience and a strong reputation, MylesTitle is recognized as a reliable provider of comprehensive commercial title insurance services in Florida. Our team of client-oriented attorneys is committed to protecting your commercial investment by implementing custom-tailored title services for your specific needs. Our main goal is to protect your investment and offer you a worry-free approach through streamlined processes.
Myles Lichtenberg, Esq., a renowned real estate attorney and licensed title agent, has lead his team and successfully carried out over 27,000 transactions and astonishing $16B in written and closed title insurance transactions, including sales, leases, and release of liens. MylesTitle underwriters and real estate attorneys nurture partnerships with versatile title insurance parties such as commercial owners, investors, developers, brokers, banks, realtors, and lenders. Contact our Florida title agents at 410-458-8975 to schedule an appointment and get a quote.
Understanding the Difference Between Commercial and Residential Title Insurance
Purchasing commercial property in the Sunshine State means navigating the complex world of high stakes real estate transactions, which can be a daunting task, as it involves a massive amount of legal procedures and documentation.
Compared to residential title, commercial property transactions are considerably more complex, require more time and effort to be completed, with an enormous amount of documentation needed. However, the main difference between residential and commercial titles lies in policy coverage. Commonly, Commercial title insurance policy has more coverage, additional endorsements, and higher coverage limits due to complexity of the transaction and more expensive premiums. Furthermore, additional coverage specific to commercial real estate properties may be purchased, such as zoning violations and use of land regulations.
Commercial Real Estate Market in Florida
Florida has a lively commercial real estate market with plenty of opportunities for growth due to the continuous commercial investment influx. The constant growth in the commercial real estate market is propelled by the high demand for industrial space in Florida. In addition, attractive business possibilities, strong economy, and tax incentives such as the Qualified Target Industry Tax Refund Program (QTI) attract commercial investors. Miami, Orlando, Tampa, and Jacksonville have emerged as popular commercial real estate hot spots.
All-Inclusive Title Insurance for Commercial Real Estate Property in Florida
Avoid burdening yourself with complicated legal and legislative procedures and hire MylesTitle skillful agents to lead you and streamline the process of acquiring a title. With our extensive experience and diligence, we strive to protect your ownership rights and your business.
- Examining property’s title
- Lien and title searches
- Florida and federal judgment searches
- Boundary, location, and ALTA/ASCM surveys
- Title insurance policies, commitments, endorsements, exceptions
- Keeping escrow in trust account
- Handling deeds, deeds of trust, release of liens, mortgages
- Mitigation and resolution of liens
- Easement, loan, and incumbency agreements
- Obtaining zoning certificates
- Environmental evaluation
- Preparing and issuing title insurance
- IRS 1031 exchanges
- Construction loan insurance
- Commercial lease analysis
- Conveyance documentation preparation
- Settlement statements (for review prior to closing)
- Coordination of closing services with all parties involved
- Commercial title holding
- Legal instruments recordation drafting and executing
- Handling funding and disbursements
- Refinancing commercial properties
Types of Commercial Properties in Our Portfolio
Over the years, MylesTitle has settled over $16 billion in transactions of all commercial property types:
- Multi-family real estate
- Office and apartment buildings
- Industrial buildings
- Retail properties (shops, strip malls, outlets, power centers)
- Self-storage centers
- Hotel & hospitality real estate (motels, B&Bs, and inns)
- Restaurants & Bars
- Vacant Land (agricultural, urban plots)
- Heavy manufacturing industrial
- Light assembly (showrooms)
- Car Dealerships
- Warehouses
- Special purpose properties (data centers, schools, research & development centers)
- Mixed-use commercial properties (theaters, nursing homes, stadiums, healthcare)
- And others
Our Loyal Clientele
MylesTitle underwriters and title consultants collaborate with everyone involved in commercial closing procedures such as:
We Provide Commercial Title Services in Entire Florida
MylesTitle title company serves the entire State of Florida from Hillsborough County, Collier, Orange County, and Monroe to Lee County, Palm Beach, Miami-Dade, Walton, and Cape Coral County.
Benefits of Hiring a Professional Title Insurance Agency for Commercial Closings
Experience and Expertise
MylesTitle agents are highly knowledgeable and proficient in commercial title insurance. We know all the complexities of the Florida real estate market, local laws and regulations, and potential title issues. Our expertise minimizes the risks of costly mistakes and ensures everything runs smoothly.
Thorough Title Search
Our team also conducts thorough title searches to identify liens, encumbrances, or claims on the property you wish to purchase. We diligently review public records, historical data, and other relevant documents to ensure the title is clear. Our in-depth research helps find potential issues quickly, allowing for timely resolution and protection of the investment.
Risk Mitigation
Mitigating risks is a vital skill best conducted by expert title insurance agents and attorneys. MylesTitle performs comprehensive due diligence to locate potential title defects, forgery, fraud, undisclosed heirs, or errors in public records. In case there are issues, our agents resolve them prior to closing the transaction, thus minimizing the risk of legal disputes or financial losses in the future.
Professional Underwriters
In high-stakes commercial purchases, it is highly advised to have the assistance of title insurance specialists who will provide professional guidance and support. Their main role is to help clients comprehend the terms and conditions of the title insurance policy, but also to respond to questions and address any concerns. MylesTitle’s expertise and support contribute to an effortless closing transaction, on top of being confident about the maximum protection and control of your investment.
Customized Policy
Choosing the proper title insurance policy is of utmost importance in commercial closings. MylesTitle agents are highly trained in assisting buyers, brokers, or investors in choosing the insurance policy coverage that meets their specific needs. Moreover, policies can be customized based on distinct demands or concerns.
Independent Counseling
Utilizing MylesTitle agents has another vital advance, which is independent counsel. We work in your best interest, and we are not associated with any party, hence, guaranteeing fairness and neutrality. Independent representation safeguards your interests and offers a stress-free experience during transaction closing.
What Makes Us Commercial Closing Leaders in Florida
- $16B+ in settled transactions
- 44+ years of industry experience
- 7 major title insurance underwriters
- Wide coverage across 50 states
- 100% client-oriented service
- “Hands on” attention
- TIPIC system for worry-free experience
- Licensing, memberships, and notable affiliations
- Client discretion guaranteed
- Boutique title insurance agency
Contact us Today for a Quote
MylesTitle reliable and dedicated team can help you with anything you need through commercial transaction closing process. From document preparation, title searches and risk mitigation to negotiating, recordation, closing transaction. Our expertise and knowledge contribute to smooth transaction processes, maximum protection against potential title issues, and unparalleled security for all parties involved in commercial closing transactions. Call us at 410-458-8975. Email us at myles@mylestitle.com or fill out the form for free initial consultation.
Frequently Asked Questions
Is commercial title insurance required by law in the State of Florida?
In Florida, title insurance is not required by law, however, your lender will most likely require title insurance as a condition for getting mortgage funds.
What are some typical commercial title insurance issues?
Investing in a profitable and booming commercial real estate market is a wise decision, however, when acquiring title insurance for your commercial property in Florida, don’t forget about the following issues:
- Extended coverage
- Public record’s filing errors
- Undisclosed liens, encumbrances, and legal issues
- Endorsements
- Easements, rights of Way and other Entitlements
- Boundary and survey disputes
- Taxes
- Unusual loan document issues
What are title insurance closing costs in Florida?
Closing cost represents all the services rendered, fees, dues, taxes, and additional expenses, to be paid by parties involved in purchase of a commercial property. After each party has signed the necessary documentation and title can be transferred, closing costs are due. The exact amount of closing cost depends on a multitude of factors such as loan type, location, and terms of contract. Contact us directly at (410) 458-8975 for consultation and a quote.
What does commercial transaction closing in Florida entail?
Most parties involved in purchasing commercial property are legal entities, such as limited liability companies, corporations, and business partnerships. Furthermore, a third-party act as an escrow company.
Processing commercial transactions is quite a lengthy and complex procedure, and closing represents its final stage. Both parties involved must finalize necessary requirements like performing proper document execution, fee settlement, and real estate title transfer.
The closing of commercial transactions in Florida includes several documents pertinent to commercial real estate:
- Letter of Intent (LOI) advisory
- Purchase Agreement drafting
- Due Diligence review and analysis
- Document exchange and recordation
- Escrow arrangement set up
- Insurance policies
Disclaimer: The article is intended to serve as a general guide, and you should consult with a real estate attorney or a title insurance professional at MylesTitle for advice tailored to your specific circumstances.