Title insurance involves several steps.
Before you buy, our company will issue a title commitment which discloses the
historical facts affecting the title of the property. We search the county real
estate records to make sure the Seller owns everything he thinks he owns and
that there are no other owners. We show outstanding liens, judgments and
delinquent taxes and whether there are any easements or deed restrictions which
may affect your use of the property. Sometimes use of the property by others can
create a question as to a legal claim.
Curing title objections or exceptions is our next step in closing your
transaction. Some title exceptions are the result of previous oversight or error
and can be easily fixed. Some issues are harder to resolve - perhaps the parties
cannot be located or a previous lender is no longer in business. We try our best
to find a solution so these exceptions do not affect you or a future
transaction. If there is ever a legal claim against your title - such as an
undisclosed heir, forged documents, improper descriptions - your owners title
policy will provide legal defense to a claim against your title.
The title company (Coryell County Land
and Abstract) coordinates all the parties to the transaction - Buyer, Seller and
Lender - and makes sure that all the terms of the contract are taken care of.
The Seller signs the deed, the Buyer signs the loan documents. We disburse the
new loan and pay off the Seller's old loan if there is one. We make sure all
title requirements are met, such as releases and taxes, and pay for services
required in the transaction, such as commissions, legal fees, surveys, pest
inspections, insurance or repairs. We are licensed escrow agents and we are
authorized and trained to handle the financial part of the transaction for you.
It's our job to see that all the funds and documents are properly delivered.
How long is a piece of string? Every
closing is different and the division of expenses is negotiated between Seller
and Buyer, and sometimes the Lender. There are however, certain fees usually
paid by Seller and others paid by Buyer. Click Here for examples of closing
costs for some typical transactions involving mortgage lenders showing who pays
what. Call us if you have specific questions, we'll be glad to help.
You're right. Title insurance rates are
set by the Texas Department of Insurance and are the same anywhere in Texas.
They depend on the sales price and loan amount. We can't offer you any cheaper
price than our competition, but we promise great service, a careful title
search, a speedy closing, and a friendly and knowledgeable staff. We understand
that the purchase of a home or ranch is one of the biggest investments most
people make. We want your closing to be a pleasant experience. So, if you're
going to pay the same no matter where you go, choose the best - Coryell County
Land and Abstract. Click Here for a brief table of current Texas title insurance
rates.
We can give you suggestions to help you prepare a contract for your sale or purchase. The contract spells out the agreement between buyer and seller as to sales price, earnest money, who is paying for what closing costs, and who needs to do what and when. The contract may specify contingencies which one party may need to meet before the sale can close, such as inspections or repairs. It should help answer questions or avoid disputes. A thorough contract will help you have a closing with no surprises.
Of course, a contract is a legally binding obligation. If you have a difficult transaction or anticipate complications, you probably should consult an attorney before entering a contract.
We close every kind of deal -
residential, farm and ranch, commercial, all cash, seller finance, assumption,
refinance, and home equity - for every kind of lender - Conventional, VA, FHA,
Farm Credit Bank, Texas Vet, Rural Housing Trust, Small Business Administration.
There is a huge variety of financing options in the Gatesville-Copperas Cove
market and we can have your closing in either town.
The parties paying for these services should choose their service providers. Where the closing will take place and who will provide the closing and escrow services are specified in the contract. If you have an agent preparing a contract, tell them to specify CORYELL COUNTY LAND & ABSTRACT. Even if the deal involves property in another county. We can take care of it for you. Tell your lender. We can provide all the title and escrow services any lender could require for sale, purchase, refinance, or home equity lending.