In Texas, residential closings are generally held at the title company.
The title company and closer is extremely instrumental in making sure all of the pieces are in place:
- Any problems are dealt with immediately
- Separate closing appointments for buyers and sellers are planned
- The monies are able to change hands the same day
In Texas, most mortgages are funded only after all of the papers have been signed by both sides and the deal is technically "done" on paper. This funding is not automatic and generally takes an hour or two or more - depending on the time of day and the lender.
Since keys and occupancy are usually not given to the buyer until the monies are received by the seller, delays can occur if the title company is not on top of the situation and the lender is not as swift as promised in funding the transaction.
A good title company that is efficient and follows through on detail is one of the most important aspects of closing on a home.
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