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REAL ESTATE CLOSINGS

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                                         "Closing the Transaction"

                                              means the investigation

                                              made on behalf of a title

                                              insurance company, title

                                              insurance agent, or direct

operation before the actual issuance of the title policy to determine proper execution, acknowledgment, and delivery of all conveyances, mortgage papers, and other title instruments which may be necessary to the consummation of the transaction and includes the determination that all delinquent taxes are paid, all current taxes, based on the latest available information, have been properly prorated between the purchaser and seller in the case of an owner policy, the consideration has been passed, all proceeds have been properly disbursed, a final search of the title has been made, and all necessary papers have been filed for record. (Texas Title Insurance Basic Manual, Sec 1, Art. 9.02., n)

Once the decision has been made to purchase a home, there are several steps that must take place.  In most cases there will be a contract or agreement to start the process.  Our office is able to check for current or delinquent taxes on the property, search the title, and examine the title. 

If you are applying for a loan, the lender will begin a process that includes a credit check, approval of the loan, and an appraisal and survey of the property.  The title on the property will be researched carefully for prior liens and records of note on that property. 

After those steps are completed, a "closing" will be scheduled for all those involved to meet and sign the appropriate paperwork.  A specific Escrow Officer is assigned to your file and will oversee the signing of all documents and make sure the funds are disbursed appropriately upon completion of the transactions.

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