Seller's need to take control
We are seeing more fraudulent real estate activity infiltrating into our Keys. Seller's need to be aware and get control of the transaction. One way to do so, is by paying for the Title Insurance. Typically in the Upper Keys the buyer pays for their own Title Insurance. With the Seller paying for the Title Insurance, they could stipulate where the escrow monies are held. We have seen scenario's where out of state Title Companies are supposedly holding escrow but they actually do not have it and never did. Having local companies hold the escrow will ensure the funds are actually there. Monies held in escrow, are a Seller's recourse if the Buyer defaults on the contract. Escrow monies could also be held at an attorney's office or a real estate brokerage.