BUYERS
Our mission is to provide buyers with a smooth and stress-free real estate closing. When you choose a settlement company, you need to be confident that your choice has the experience, knowledge, and ability to protect you and your investment. Lytle Title's owner and staff have closed successfully tens of thousands of real estate transactions involving more than a billion dollars. You can close with confidence at Lytle Title.
The Closing Process
Okay, so you have signed your contract and chosen Lytle Title to handle your closing, so what happens now? Well, first of all you can be confident that we will take care of you, so rest assured and do not stress! At Lytle Title it's all about you, and we will take care of just about everything behind the scenes.
Your contact information
Make sure we have good contact information for you. Email has changed the world, and it is a great way to stay in touch with us. We embrace the technology and use it to our client's advantage: from emailing deeds to sellers in Korea to having our documents scanned and disseminated electronically, we believe this technology is key to closing in today's fast-paced world. For that reason, we host our own fax and email servers on dedicated T-1 high speed Internet connections.
We need you to take care of three things
First, let us know right away if one or both of you will not be able to attend closing. If you have an existing power of attorney, both we and the lender need to review it, and we must have the original at closing We can have powers of attorney prepared for you by Lytle Law if need be. Second, we need you to choose your homeowner’s insurance company and agent, decide the type and terms of policy you want with that agent, and then have that agent contact our office. Third, let us know if you desire a survey. We will not order a physical survey of the property unless we are instructed to do so. We firmly believe a survey is useful, and is the only way certain types of problems, like encroachments and easements, can be discovered. Please let us know immediately if you would like a survey.
Follow our workflow
Most of what we will do for you happens in the background and you need to interact very little with our office, but you are welcome to follow us every step of the way. After we are asked to close on your home, we will perform your title search, order your survey if you request one, and obtain the necessary title insurance automatically. As the process moves forward, we will work with your lender, your agent, and the seller's agent and attorney to coordinate all of the details necessary to get you closed.
Schedule Closing
We will assume the closing date specified in your contract and schedule a specific time to close once we get a better feel for document delivery and everyone's schedule - and this is usually scheduled in coordination with your agent. As we get near this closing date, and as soon as we are able, we will provide you (or your agent) with the amount of money you will need to bring to closing, which will need to be in the form of certified funds (cashier's check or money order payable to "Lytle Title"), or you may wire the money. Don't stress if this amount isn't known until very near closing, which happens sometimes, as we will work with you to get the money.
Last but not least!
Finally, that magic day will come and you will arrive at our office, sit down with your Lytle Title closer, who will review and have you sign your closing documents, give us funds due at closing, get your keys in return, and then you can leave to go to your new home! What could be easier!
Please bring a photo ID to closing, and if your ID does not match the name on your loan or contract then please let us know that well before closing.
We will need certified funds (cashier's check, certified check, wire or money order) at closing. All funds and checks should be made payable to "Lytle Title." We (or your real estate agent) will provide you with an accurate closing funds number as early as we can, but quite often this is not possible until right before closing. Relax though – your closing will not be delayed for this reason and if your closing funds number is not ready we will help solve that problem. Please bear in mind, however, that you may need to transfer money between your accounts to that you have ready access to it so do that well before closing.
Title Insurance
For most people their home is their largest investment. In order to protect your investment in your home, Lytle Title will search the courthouse records to make sure the seller can convey clear and marketable title to you. We will look for judgments, tax liens, lawsuits and other problems, and we won't let the deal close unless there aren't any. While a title search should uncover problems of record in the courthouse that does not mean there might not be title problems. For example, courthouse records will not reveal forgery, fraud, unknown heirs, lost wills, etc. For this reason, lenders will require that their (security) interest in your house be protected with title insurance. Title insurance is just like any other type of insurance except that it insures against title problems. The lender's policy does not give you any protection. At closing you will be given the opportunity to purchase owner's title insurance, which would protect you, for a reasonable one-time premium paid at closing. We highly recommend you purchase this insurance. We underwrite with First American Title Insurance Corporation, one of the foremost and sound companies in the country. We specifically recommend their Eagle Policy, a great deal given the broad coverage. Please visit their web site for more information.