Use Title Settlement For Free

Also, you will receive the deed of the property and title insurance policy after the transaction is completed. So, you might be wondering, how long does it take to clear a title? The entire process of clearing a property's title takes roughly two weeks.

The licensed settlement agent or attorney handles all aspects of the closing transaction. The seller signs deed, buyer signs new mortgage, old loan is paid off, new mortgage is signed.

Services required to process the property transaction include title work, appraisals, inspections, document preparation, recording fees and other expenses.

In Texas, the seller traditionally pays for title insurance. Your coverage will protect you against errors in the public record, undisclosed liens, and forgery.

Starting a Title Company in Texas While no formal education is required to become a title agent in Texas, you will need to obtain a title agent license. You may also need to get an escrow officer's license, depending on the services your title company plans to offer.

The title company verifies that the seller has the legal right to sell the property to a buyer. A title company can issue a policy, called title insurance, that protects homeowners and lenders from conflicts (like title claims) that may arise from the property's previous owners.

The terms "title", "escrow", and "settlement" are often used interchangeably to refer to a company that will "close" the sale of your home - or finalizing the sale.

Title companies charge for each of their services. Usually, the seller pays for the title search and the title insurance premium. The buyer usually pays for their lender's title insurance premium.