Title and escrow is a people business! So lets be honest, title insurance in Texas is a highly regulated industry, with set rates. Shopping for a title insurance provider doesn’t mean shopping for the best rate. It means shopping for the best service!Our team will proactively guide you or your clients to ensure each transaction is on track and closing on time. As the premier title agency in Texas CLEAR Title and Appraisal Co. has invested heavily in technology that is designed to reduce transactional friction, reduce paper and reduce time. Not to mention help buyers and sellers after the transaction. Ultimately, you’ve worked hard enough for your deal! Do us both a favor and send it our way. If you are unsatisfied with the results, its probably because you went somewhere else. Get in touch with one of our team members to learn more about how our closing process is superior to any you have experienced before.
As a premier title and escrow company in Texas, Clear Title & Appraisal Co., understands the specifics of these financial products and makes the procedures manageable for you. We have been closing transactions for years now and are a locally known business. Clients in Allen, Dallas, Richardson, Frisco, Irving, and Plano trust us with their real estate closings.
Our aim ultimately is to make every closing on time, without leaving any last-minute surprises. Whether you are the seller, buyer, or lender, at Clear Title & Appraisal Co., we will assist you with every step of the way.
Get in touch with our specialists to learn more about our complete line of products. We offer residential real estate solutions you can trust.
Title vs. Escrow – Educating Clients
The title industry has been an indispensable element of American real estate for ages. The professionals who make up the industry include title and escrow agents along with attorneys and title underwrites depending on different states. In the end, they are all responsible for guaranteeing a secure exchange and ownership of properties in every state.
Before diving into the details, let us quickly define what the two terms mean and how agents help you with the services in Texas.
The simplest way to explain “Title” in terms of real property, is who owns it. Think of the word “entitled,” where you have ownership or control over something. When it comes to your profession, that something is your job tile, in real estate, that something is property. By holding a title to a property, you have legal rights, ownership control, and responsibility over that property. Title can be held by individuals or by two or more people, in the case of a married couple, for example. Title can also be held by corporations, partnerships, organizations, and trusts where all parties would share these “title rights” of ownership and responsibility.
Real Property title is a bit different that personal property title, say for a car. With automobile title, there is a singular physical document that can be edited multiple times to identify the current owner. With Real Property, there is no physical document, merely a concept of who is “entitled” as the owner. There can be multiple documents, deeds, that are recorded with a local county clerk that outline the chain of title, or the different people/entities that may have owned and conveyed or sold the property over time.
A title company is tasked with researching public records to confirm that seller is actually the current owner and that the buyer will be able to enjoy the property they are purchasing, without threat of others asserting a claim to their newly acquired property. In comes a title insurance policy!
Escrow refers to the transactional arrangements managed by the title company as an intermediary for buyer and seller. It is the process of handling everyone’s money until the transaction’s completion, the first encounter usually being the buyer’s earnest money.Think, middleman holding the bet. When you send in earnest money to a title company, you are asking them to hold in trust, until closing or in the unlikely event that you choose not to proceed with the transaction. But that’s not all. A title company will collect all funds from buyers, lenders, your grandma or whomever is contributing to the transaction. Then, the title company will verify who gets paid and how much and pay them. Then everyone gets to hear those magically words, “We’ve Funded!”
Role of Title & Escrow Agents
While different companies provide the two services, some like Clear Title andAppraisalCo. handle both to meet the clients’ needs.
A title agent or company is responsible for researching the property in question and transferring the ownership rights. They usually provide title insurance and also act as escrow officers if it’s the same company. They initiate a title search to ensure the seller possesses the ownership rights and the property is free and clear. Next is title commitment, which results from a title search detailing any issues with the title. Finally comes the title insurance when you close on the property but later determine any title discrepancies.
Coming to escrow, title companies in Texas usually handle these too. The escrow agent acts as a third party for the buyer, seller, and lender, to ensure the contracts are followed thoroughly and the funds reach the correct places upon meeting the contractual terms.
An escrow agent basically touches upon the transactional documentation, oversees finances, and coordinates with all parties for closing the deal.
To summarize the differences, title agents gather information about the transaction, and the escrow agent executes the transaction (i.e., closing and fund disbursement) according to contract terms.
What to Expect?
At CLEAR Title & Appraisal Co., we will assist you every step of the way. From electronic earnest money deposit (no silly apps to download) and contract delivery to in-person electronic signing and digital document storage for the life of your loan. CLEAR Title & Appraisal Co. has invested in the tools and the technology to keep you and your clients aware and ahead of the game.
A One-Stop Shop Title & Escrow Company
What can Clear Title andAppraisalCo. do for you? We are your one-stop-shop Title And Escrow Company operating in Allen and Plano. Our experts fulfill some critically essential tasks, including:
Review title and clear any defects
Provide title insurance
Handle voluminous escrow documentation
Handle all finances skillfully and safely
Explain the entire closing procedure
Conduct prompt and professional closings
Distribute funds at closings
Insure free and clear titles at the closing
Pay off any back liens
Record the documents and issue applicable insurance policies
Keep looking for potential problems and fix those in time
For detailed information on our processes, you can always speak to us and receive professional assistance at all costs.
Are You Looking For Title & Escrow Services In Texas?
Clear Title andAppraisalCo. is pleased to have qualified title and escrow agents on staff to help you manage the process from start to end. All our agents are smart, solid, and licensed to deliver improved customer service and reduce costs. With us, you will get greater flexibility and cash visibility where we also maintain state-wise compliance.
We ensure doing whatever it takes to get your deals closed. We make the process as stress-free and fluid as possible for you. Our specialists offer uniquely tailored services to each real estate client.
Call us at 469-908-3753 today. We serve clients across Allen, Dallas, Richardson, Frisco, Irving, and Plano. If you are looking for Title and Escrow service providers for your real estate transactions in Texas, rest assured, we have your back.