If any of the document(s) list incorrect names or amounts, or if the closing settlement is incorrect in some way, then the closing could be delayed. There can be any number of mistakes or omissions, such as a missing page or an incorrect notary. If settlement paperwork is filed with a page missing, that would create a significant problem. In most cases, however, there are no errors, and I can say that all of the title companies in Houston are extremely accurate and rarely make mistakes. In part, this is because it is their job to be accurate and mistakes can cost a title company a lot of money.
In the past, the buyer and seller along with their attorneys, (if a party wants an attorney to attend) as well as the title company closer were required to attend a closing. Currently, a closing can go forward in two other settings. The seller can appear at the title company and sign all of the documents. At another time, the buyer can do the same. The second occurrence happens when either the buyer or seller is out of town, out of state, or out of the country. Technology has assisted in these long distance closings.
Before or at the time of closing, the title company will charge a percentage of the total sales price for their fees, which is why the fees are always different. In addition to the attorney’s fees that can be added to the closing cost, there are also fees for copying and filing documents, and messenger fees for taking the documents from one place to another (although we do not have as much of this anymore because documents can always be emailed).
For more information on Drafting Closing Procedures, an initial consultation is your next best step. Get the information and legal answers you are seeking by calling (281) 845-9330 today.
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