What To Expect
Once a realtor facilitates a purchase agreement on the buyer and seller’s behalf, Hill Country Titles deposits the earnest money into an escrow account. Before issuing a commitment for title insurance, our title department initiates a thorough title history examination by reviewing public records to determine if there are any defects in the chain of title – including deeds, mortgages, wills, divorce decrees, court judgments, tax records, liens, encumbrances, plat records, etc.. Our title search determines current ownership of the property, any debts that may be owed against it, and any conditions of the title.
Once the title examination process has been completed and a Commitment for Title Insurance has been issued, the transaction is moved to our escrow department for final processing and closing. Once everything is approved and the closing date is set, the interested parties will meet at our office to sign the paperwork and legal documents, and finalize the transfer of funds and title. Arrangements can be made for overnight delivery of documents to parties who may not be able to personally appear for the final closing and settlement.
The Texas Department of Insurance requires “good funds” to be transferred to the company’s escrow account for final settlement. The following are considered “GOOD FUNDS”:
- Cash or Wire Transfers: (there are reporting requirements on cash sums in excess of $7,000);
- Certified Checks;
- Cashier’s Checks.
Wire Transfers are Preferred
The following are not considered “GOOD FUNDS”:
- Personal or Business Check over $1,500
- ACH deposits
- Money orders
- Inter-Bank Transfers
- Traveler’s Check
After closing, Hill Country Titles will ensure the documents are recorded at the courthouse, pay any fees and disburse funds to the seller.
Hill Country Titles maintains its own title and abstract records database to provide the most comprehensive history on every plot in the county with records dated back to the patent, and complete to sovereignty. Clients can feel confident knowing the full history of their purchase and ensure ownership rights are secure. Additionally, our founder and president, Gordon E. Sauer, is a licensed attorney who has practiced real estate law in Fredericksburg for over 47 years.