By Lydia Blair
Special Contributor

Some folks like a long, unhurried closing. Others prefer a quickie. Depending on who is involved, you could have either.

The closing process in our area typically takes about 30 days. Want to close sooner? How about in 2 to 7 days? It’s possible. I’ve done it a couple of times.

A quick closing takes some fast action from the buyer, the seller, and their title company. Some diligent effort needs to come from everyone to make it happen.

If you’re looking for a quick closing, follow these six steps:

(more…)

By Lydia Blair
Special Contributor

When you buy a home, don’t you get a guarantee of clear title? Well … no.

Isn’t that why you buy a property through a title company and get title insurance? To get clear title? Not exactly.

That’s not the phrase we like to use in the title business. Those two words “clear” and “title” together. They can cause anyone within the walls of a title agency to cringe, squirm and scowl. It’s like nails on a chalkboard.

I had the audacity to use the expression “clear title” in a recent Title Tip. Just pin my tail and call me a donkey. Must have been too much holiday eggnog.

So how do you get clear title to a property? You don’t.

(more…)

closing

By Lydia Blair
Special Contributor

Buying or selling a house takes time. How much time you spend closing depends on several of factors. There is a reason we call it the closing process. Many moving parts must come together before title transfers ownership. In Texas, it’s typically 21 to 45 days.

How long does it take to sign all the documents and actually transfer ownership of the property? That part of the process usually happens in a single day. The closing day is when the deed to a property is exchanged for money. The buyer deposits the money due with the title agent and signs the loan and purchase documents. The seller signs the deed and closing statements and receives money due to them. In Texas, the buyer and seller usually sign closing papers separately. Unlike some other states, not everyone sits down at the closing table at the same time.

Signing the closing documents can take anywhere from five minutes to several hours, depending on the situation. The more complicated the transaction, the more paperwork there is to endorse and the longer it can take.

(more…)