Buying or selling a home in Texas.
Closing is the part nobody explains until you are sitting at the table. Pick where you are in the process and I will walk you through it.
If you are buying
Here is what to know before you buy, explained the way I would explain it to a friend.
Buying a home, step by step
Ten steps from first phone call to keys in hand, including the two everyone gets out of order.
Read more → ProtectionWhy title insurance matters
Every other policy covers what might happen. This one covers what already did, and only one of the two policies protects you.
Read more → ProtectionGet a new survey
Why the seller’s old survey is not good enough, and why the coverage costs a fraction of what a boundary dispute does.
Read more → ProtectionHome warranty vs insurance
Two different products that get confused constantly. One covers what happens to the house, the other what happens in it.
Read more → The finish lineWhat to expect at closing
The timeline from contract to keys, what to bring, and how to protect yourself from wire fraud.
Read more →If you are selling
Here is what to know before you list, so closing day is the easy part.
Selling a home, step by step
From listing agreement to proceeds in your account, and where a seller’s real work happens.
Read more → Before you listWhat slows a closing down
A deceased co-owner, a divorce, a lien nobody released. All fixable, none of them fast.
Read more → While you are listedCoverage during the listing
If the air conditioner quits in August while your home is listed, a warranty covers the repair for a service call fee. Usually nothing is due until closing.
Read more → The finish lineWhat to expect at closing
What happens between contract and closing, what to bring, and how to protect your proceeds.
Read more →Common questions
Do I need title insurance in Texas?
A lender will require a policy protecting the lender if you are financing. The owner's policy, which protects you, is optional but strongly recommended. It covers problems that already existed in the property's history before you bought it, such as a forged signature, an unknown heir, or a lien that was paid but never released. You pay once and it lasts as long as you or your heirs own the property.
Why is title insurance the same price at every Texas title company?
Texas title insurance rates are promulgated by the Texas Department of Insurance, which means the premium is identical no matter which title company you use. You are not shopping for a cheaper policy. You are choosing who handles your closing, how quickly problems get found, and who answers the phone.
Do I need a new survey when buying a house in Texas?
In most cases yes. A survey from a previous owner may not show changes made since it was made, and you have no recourse against a surveyor who was not your surveyor. Using an existing survey also requires the seller to sign an affidavit stating nothing has changed. A new survey plus survey coverage on your policy is the least expensive protection in the transaction.
What is survey coverage on a title policy?
A Texas title policy contains a standard exception for anything a survey would reveal, such as fence lines in the wrong place, encroachments, or improvements over an easement. For a small percentage of the premium you are already paying, most of that exception can be amended so those issues are covered.
Does my spouse have to sign if they are not on the deed in Texas?
If the property is the homestead, yes. Texas law requires both spouses to join in a conveyance of homestead property even when only one spouse is on title, and even when the property was owned before the marriage. This is the single most common last-minute signing surprise in Texas closings.
Who pays closing costs in Texas?
Custom is a starting point and the contract decides. Sellers customarily pay for the owner's title policy, loan payoffs and their share of taxes. Buyers customarily pay loan costs, the lender's title policy, the survey, recording fees and inspections. Several items, including who pays for the owner's policy, are negotiable.
How long does a Texas closing take?
Most financed transactions run about thirty to forty-five days from contract to closing. Cash purchases can close faster. What extends a closing is usually title curative work such as heirship, unreleased liens or missing signatures, which is why those issues are best identified at listing rather than at closing.
What is a mobile closing and does it cost extra?
A mobile closing means the notary comes to you instead of you driving to an office. Mobile notary is always included with my closings, anywhere in Texas, whether that is your kitchen table, your office, or a hospital room. There is no added charge for it.
Every transaction is different, and this is general information rather than legal or tax advice. Your own situation may work differently. Ask your agent, your escrow officer, and where it matters, an attorney.