Frequently Asked Questions WHAT IS TITLE INSURANCE? Owner's title insurance protects purchasers of real estate against title defects that may exist against the property. Lenders', or mortgagee, title insurance insures the lender as to the priority of its lien, meaning there are no other mortgages, liens or judgements recorded prior to their mortgage being issued. WHAT ARE EXAMPLES OF TITLE DEFECTS? Judgements, liens, unsatisfied mortgages, missing heirs, forgeries, unpaid taxes, etc. These are just a few of the title problems that a thorough search of the public records can uncover. WHAT DOES IT COST? Rates for title insurance are set by the Texas Department of Insurance, based on the sales price or mortgage amount. Please contact us for a detailed quote for your property transaction. WHO PAYS FOR IT? Traditionally, depending on the county in which the property is located, often determines who will pay for title insurance and other closing costs; although it is negotiable between the parties in a purchase transaction. This should be addressed in the contract for sale and purchase agreement. HOW LONG DOES IT TAKE? With today’s technology, we are able to close in as little as 24 hours on some transactions. Providing a copy of the title policy you received when you initially purchased your property can aid in expediting the title search process. WHAT DO I NEED TO PROVIDE WHEN REQUESTING TITLE INSURANCE? Please complete our order form, and provide the following: A fully executed sales contract; information on your existing mortgage(s), if any, such as loan number, phone number, etc.; homeowners or condo association information, if applicable; phone numbers of all parties involved; and your prior owner’s title insurance policy. WHAT DO I NEED TO BRING TO CLOSING? A valid, state or government issued photo identification card (e.g. valid driver’s license) for all parties is required. Your lender may also require additional items be brought to closing, such as pay stubs or inspection reports. If you owe money at closing, those funds must be in the form of a cashier's or certified check, or they must be wired. I'M OUT OF TOWN - DO I HAVE TO BE PRESENT AT CLOSING? No. We can have your documents sent to an affiliated title company or your bank by overnight courier for you to sign and have notarized. Just let us know when you place your title insurance order that you will need this service. WHEN IS THE BEST TIME TO CLOSE? When possible, the earlier in the month the better. The myth that you save money by closing at the end of the month is simply that, a myth. CALL US AT (903) 872-8485, OR SEND US AN E-MAIL. WE ARE HERE TO HELP! ANY QUESTIONS WE HAVEN'T ANSWERED YET? Equal Housing Opportunity • Disclosure and Legal Notice