Here you will find where we have gathered and answered some of the most frequently asked questions that our team gets asked about title work. Read, familiarize, and share this information with your clients to stay educated on our processes and be well prepared for closing day.
Are all title companies closing companies?
No. Some focus just on title insurance and some just on escrow services. At Willow Bend Title our staff is trained and experienced to be your one stop shop for all your closing needs.
Can the buyer pick the title company?
Yes. Your realtor will typically advise you on who their preferred title company of choice is, but as the buyer you can choose the title company who processes your insurance policy and closing. Since real estate is such a big investment, we highly advise that you do your due diligence when deciding on who to work with.
Will my realtor know anything about the title of the property?
Realtors have a general understanding of how title works but they will not know any information related to the title on a specific property until the title company has completed their title search.
Do I need title insurance? How does it protect me?
If you are not paying cash for your property, your lender will require you to purchase lender's title insurance. By doing so, you are protecting yourself as well as the lender from giving someone else claim to your property and conflicts that may arise from the property's previous owners. The insurance policy will pay for any legal defense costs and reimburse you for any mortgage payments you are unable to make if you lose your property based on someone else's claim on it.
How much can I expect to pay for title insurance?
Rates vary depending on how much you are paying for the property. The current Texas Title Insurance Basic Premium Rates can be found here.
Will I have to pay for title insurance every month?
No. Unlike other insurance policies, title insurance is not billed as a monthly premium. It's a one-time cost you pay at the time you purchase the property and lasts for the time you own it or refinance it.
Do you have additional questions about title work? Do not hesitate to contact us. Title is our expertise here at Willow Bend Title and we genuinely look forward to sharing our knowledge with you.