The seller or his representative should make the following items available to The Title Company (Navasota Abstract & Title Co. Inc. / Grimes County Title, Inc.:
- Deed, other required title documents and curative documents.
- If property is currently owned by a deceased party, please notify the Title Company. There will be further requirements in order to close the transaction.
- If title to the property is under a company name, please notify The Title Company and provide the company’s entity information. There will be further requirements made in order to close transaction.
- Please note that title companies do not prepare legal documents that are used for the parties’ benefit (such as deeds, releases, or mortgage instruments), nor are title insurance agents required to cure title defects. However, with the Seller’s instruction, the title company can arrange for these documents to be prepared by a law firm, with a fee to be collected at closing.
- If there is a lien on the property, we will require a Mortgage Payoff Request Authorization form to be completed and executed in order for The Title Company to obtain payoff information. This will facilitate a quick response on the payoff/assumption information. WE MUST HAVE YOUR SOCIAL SECURITY NUMBER IN ORDER TO OBTAIN THE PAYOFF INFORMATION.
- All unrecorded release of liens or discharges of mortgages in his possession.
- The most current paid real estate tax statements and receipts.
- A statement showing the amount of real estate commissions to be paid out of the settlement and to whom payable.
- An agreed division of charges for title premiums, recording fees, and settlement charges.
- Copy of the earnest money contract, fully executed and dated; also, any bill of sale covering personal property or required property condition disclosures.
- Instructions concerning the disbursement of seller’s proceeds. The sale proceeds check will be made payable to all parties in title, unless written instructions signed by all parties in title are received instructing otherwise. The Title Company can wire proceeds to the seller. We will need wiring instructions. We do not charge our customers to wire proceeds; however, you will need to contact your banking institute to verify any fees that can be incurred by incoming wires to your account.
- A Photo ID must be brought to closing by the Seller(s) to verify the identity of who is signing the legal documents.
If a Power of Attorney is to be used in closing, please advise The Title Company immediately. The Power of Attorney must be in a form acceptable to The Title Company and/or its underwriters, and to the lender. The party executing the Power of Attorney must be available by telephone the day of closing to verify they are alive and have not revoked the Power of Attorney.
If the buyer of your home is securing a new loan, please remember that the funding process differs in each situation, i.e.: Funding occurs after closing documents have been executed by the buyer and seller.
- Funding occurs strictly in conformance with the Lender’s requirements.
- Some lenders require a closing package to be returned for review prior to releasing the funds.
- Some lenders fund only at certain times of the business day.
- Some lenders require a verbal telephone review process prior to funding.
- Funding at the end of the month is much slower due to demand.
- Some lenders do not present a funding check to the title company; therefore The Title Company cannot fund until the Lender’s wire is received.
- Funding cannot occur unless all parties (buyer, seller, lender) present good funds (Cashier’s Check, Certified Funds and/or Wire transfer).
- Funding cannot occur until all inspections required by lender have been completed.
- Please keep in mind that The Title Company must distribute proceeds directly to the Seller named on the Deed. All proceeds checks will be payable as designated on the deed unless otherwise instructed by all parties in title.