A: Title companies are an important part of real estate transactions, whether you’re buying, selling, or refinancing a home, land, or commercial property. We ensure that the seller owns the property legally and can transfer merchantable title to the buyer. At True Title, licensed attorneys handle the examination of ownership rights, and preparation of title documents.
Q: What does a title company do?
A: Our work includes conducting searches of public records to determine if there are any holds or liens against a property that would preclude it from being transferred to a new owner. When issues arise, True Title works to resolve them so your transaction can proceed.
Q: What happens at closing?
A: Get ready for your new keys! We love closings at True Title because it’s the end of the buying process for you, the culmination of our hard work, and everyone leaves with a smile. If you’re the buyer, expect to meet with the attorney assigned to your transaction and sign the final documents –all of which will be explained to you. They’ll include disclosures, settlement sheets, loan documents, and others. When you leave, you’ll be the official owner of the property.
Q: Why should I work with True Title?
A: We make these promises to you:
You will have an attorney working directly on your transaction.
Everyone you deal with at True Title will be friendly, accessible, and responsive.
Your questions will be answered quickly.
Your clients will be confident in your decision to use True Title, and in turn, gain confidence in you.
We’ll work proactively and keep you informed so that there are no surprises.
You can rely on us to treat your file as if it were our own. Every file. Every time.
Q: What is the process when a buyer is using a lender?
The Lender sends True Title a work order for a title commitment request.
True Title orders an Abstract/Title search.
True Title examines the Title Search and Abstract to make sure the property is owned by the seller and no other parties can claim title to the property. The abstract will also show any mortgages, judgments, and liens on the property. If there are any issues the attorneys will handle the necessary curative work, if any.
True Title orders the payoff if the seller still has a mortgage on the property (The payoff is the amount that the seller still owes the bank on the property that is being sold).
Once the Title Search and Abstract review is complete:
True Title issues a Title Commitment to insure the transaction.
True Title composes the Closing Protection Letter.
True Title creates the Pre HUD.
The Title Commitment, Closing Protection Letter, and Pre HUD are sent to the Lender.
The Lender gets the loan approved by underwriting, and gives True Title the clear to close and the lender sends the closing instructions to True Title.
True Title contacts all parties and sets the time and date for the Closing.
True Title creates the final HUD and has it approved by the Lender.
True Title contacts the buyers to let them know the final amount they need to bring to the closing, monies brought to the closing must be brought in the form of a cashier’s check.
Once the Lender approves the final HUD, True Title prepares the package and have it ready to be signed.
Closing: All parties show up to the closing and sign the loan documents and the sale documents.
True Title records the mortgage and the sale with Parish Clerks office.
True Title cancels existing mortgage, liens, and judgments when applicable.
True Title Issue Title Policies.
Q: What is the process when a buyer is purchasing with cash?
Real Estate Agent sends True Title a Purchase Agreement.
True Title reviews the Title Search and Abstract to make sure the property is owned free and clear by the seller and no other parties can claim title to the property. The abstract will show current mortgages, judgments, and liens. If there are any issues the attorneys will do the curative work. For example, execute a succession if the property is owned by family members of a deceased spouse.
True Title orders the payoff if the seller still has a mortgage on the property. The payoff is the amount that the seller still owes the bank on the property that is being sold.
Once the Title Search and Abstract review is complete,True Title contacts all parties and sets the time and date for the Closing.
True Title creates the final HUD/Settlement Statement.
True Title contacts the buyers to let them know the final amount they need to bring to the closing (monies brought to the closing must be brought in the form of a cashier’s check).
Closing. All parties show up to the closing and sign the sale documents.
True Title records the sale with the Parish Clerks office.
True Title issues Title Policy.
Q: Who do we write through?
A: True Title writes through several established companies with excellent reputations. We’ll choose the best option depending upon the transaction. They include: