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 Click to view information about The Closing Team |
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| Weatherford Offices: 925 Santa Fe Drive., Suite #102 Weatherford, TX 76086 Phone: (817) 341-0700 Fax: (817) 341-0702 Click for Map Location |
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Can I close early?
The Title Company is usually ready for closing seven days after the receipt of contract. We can close early if all other parties (lender, buyers, sellers) are ready.
Do I need to bring anything to closing?
Generally, the only thing the Title Company needs at closing are the parties involved and their proof of ID and money. Sometimes the lender may request the buyer to bring additional information or the Title Company or Realtor may ask for additional information from the seller.
What is a HUD-1 Settlement Statement?
The HUD-1 Settlement Statement is the form used to show how all monies involved in the transaction are collected and distributed.
Will my spouse need to be at closing?
Yes, unless this is your investment property.
What does the Title Company need to fund the transaction?
The Title Company needs three things to fund the transaction, signatures: on all closing papers, all money for the transactions, and authorization from the buyer’s Mortgage Company (commonly known as funding number).
Will my earnest money be cashed?
The State Board of Insurance who regulates Title Companies requires us to cash the earnest money check within three days of its receipt.
When will I know how much money I will need to bring to closing? Within two hours of receipt of the lenders closing papers, the Title Company will prepare the HUD-1 Settlement Statement which shows the final closing figure. Your lender will provide you with a good faith estimate prior to the HUD-1, so you will know approximately the funds you will need to bring to closing.
Who do I make my check payable to?
All checks presented to the Title Company need to be payable to Land America American Title.
Does the Title Company accept personal checks?
The State Board of Insurance requires any funds to the Title Company over $1,500 be in the form of either a cashiers check or a wire transfer.
When do I get my keys?
If a lease is not involved, the keys are given upon closing and funding.
When will I get my Deed?
After closing and funding, the original Deed is filed of record at the County Clerk. The County Clerk holds the Deed for up to six weeks before forwarding it to you.
When do I file for my Homestead Exemption?
You must occupy the property on January 1 to file with the County for your Homestead Exemption. Most Counties will send you an application form. If you don’t receive this form, call your county’s appraisal district to request.
Can I use my old Survey?
Our Title Company will accept an existing survey of any age as long as no changes have been made to the property.
Do I need to give my original Deed to the Title Company?
No, the Title Company pulls directly from the county all Deed records on your property.
Do I need to order a payoff statement from my mortgage company?
In your Thank You packet from the Title Company is a seller pre-closing information form. On this form, you will provide us with information about your lender, and we will order the payoff statement for you.
When will I know how much money I will receive at closing?
Our Title Company’s standard is to provide to your agent a preliminary HUD-1 five business days before closing. This will have the estimated amount you will receive at closing. The final HUD-1 will be prepared upon receipt of the buyer’s Mortgage Company closing papers.
When will I receive my check?
Upon closing and funding, the Title Company cuts all checks to all parties involved in the transaction.
Do I need to bring all my keys and garage door openers to closing?
Not typically. Please discuss with your agent how the key transfer will take place.
The above questions are answered on a general basis. Each Real Estate transaction is unique and may involve different circumstances. Please feel free to call us in that case at (817) 341-0700.
Please note that these are estimates and are subject to change based on title information and the particular situation.
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