Title Insurance 101 Richard Mandel Explains

There are a lot of hoops to jump through when you buy a home. Many are easily understood, like inspections to make sure the electricity is sound and the roof isn’t going to blow away in a 25 miles-per-hour wind. At closing, there are a lot of boxes to check and costs to sign off on. One of them is title insurance.

We’ve heard of it and bought it even though we may not have a strong grasp of what it is we’re buying. Like most insurances, it’s something we hope we never need to use but is important to have.

Richard Mandel is a licensed title agent with Assure America Title Company at Island City Center in Wilton Manors and in Boca Raton. He has thirty years of experience in real estate, including ten specializing in title insurance. He talked with OutClique about the ins and outs of the product and why having an experienced title agent is key.

“The fact that I have been in the real estate industry, sold real estate for over twenty years, and also have been a managing real estate broker is a major benefit to the realtors that work with me,” Mandel said. “I have walked in their shoes. I know exactly what they do each and every day and what they need from their title partner.”

Essentially, title insurance is a type of insurance that protects the owner of a property from any financial loss or legal issues that may arise from defects or challenges to the ownership of the property. Over the years, Mandel has seen myriad issues arise before closing. “There is no one common thing that we see. The title search depicts all information relating to ownership of the property as well as outstanding claims, liens or encumbrances on title. It also includes public records to ensure the title is clear and there are no undisclosed issues or defects.”

Part of his job is spotting scams which will pop up during the title investigation. “Typically, we see this as a result of the title or lien search. We immediately bring this to the attention of everyone in the transaction and, depending on the source or origin of the problem, we suggest that they seek the advice of an attorney and or the county/city, and bank.”

After graduating from Pace University in 1987, he moved to South Florida to work in the retail industry as a buyer for a major department store, but that didn’t last. “I got retail burnout. Once I quit my job in retail, someone suggested I get my Real Estate License and I have never looked back.”

He decided to get his realtors license and after twenty years moved into title insurance. Mandel believes his background is an extra level of protection to buyers and realtors. “I can be an excellent resource to them for any real estate questions they have or problems that may arise during the transaction.”

To learn more about Richard Mandel’s work and expertise, you can contact him at his office at Island City Center in Wilton Manors (2550 NE 15th Ave) or in Boca Raton (595 S. Federal Hwy, #110.