3417 Curry Lane

Abilene, Texas 79606

Telephone: 325.794.2700

Fax: 325.794.2727

Lender Information

Introduction

From loaning purchase money to financing major commercial transactions to refinancing mortgage loans, lenders are the lifeblood of the real estate industry. We want you to know that our goal is to provide you an efficient, quick closing. We occasionally work with other title companies…and we know how difficult they can be to work with. Our goal is to be different…and because of that, we are committed to providing you quick turn around times on our title work; to provide title work that is accurate and error-free; and to be flexible and helpful in preparing for closing. We strive to assist you in preparing for closing and are happy to assist you with HUD-1 preparation and with your questions to complete the GFE and other required disclosures.

We are licensed to issue title insurance in Taylor, Callahan and Shackelford Counties. However, we often handle closings on properties located throughout the state of Texas. If you need assistance with a closing in another county, we will be glad to close the transaction for you and to arrange for title insurance through a title company in the county where the property is located.

Our affiliate law firm, Bradshaw, McCall & Westbrook, PLLC is also available to prepare any loan documents you require at closing. We are very experienced in preparing all types of loan documents, including simple short term notes, construction loan notes, loan agreements, mechanic's liens, complex commercial deeds of trust, security agreements, assignments of rent, and financing statements.

Here is some basic information to get you started, but please feel free to contact us with any questions.

Fees

FIRST TEXAS TITLE COMPANY, LLC FEES

STANDARD SALE WITH A LOAN

Buyer's Fees:

  • - Settlement Fee - $340 (includes $175 Escrow Fee; $125 Loan Closing Fee; $40 per loan package for Overnight Package Fees)
  • - Recording Fees - $130 (see note below regarding recording fees)
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Seller's Fees:

  • - Settlement Fee - $195 (includes $175 Escrow Fee; $20 per payoff for Overnight Package Fees)
  • - Tax Certificates - $10 per tax account
  • - Recording Fees - $30 per lien release (see note below regarding recording fees)
  • - Document Preparation (payable to Bradshaw, McCall & Westbrook, PLLC) - $225 (includes $150 for deed and $75 per lien release)
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REFINANCE

Borrower's Fees:

  • - Settlement Fee - $360 (includes $300 Escrow & Closing Fee; $40 per loan package and $20 per payoff for Overnight Package Fees)
  • - Tax Certificates - $10 per tax account
  • - Recording Fees - $100 plus $30 per lien release (see note below regarding recording fees)
  • - Document Preparation (payable to Bradshaw, McCall & Westbrook, PLLC) - $75 per lien release/transfer)
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MOBILE HOME SALE WITH A LOAN

Buyer's Fees:

  • - Settlement Fee - $440 (includes $275 Escrow Fee; $125 Loan Closing Fee; $40 per loan package for Overnight Package Fees)
  • - Recording Fees - $160 (see note below regarding recording fees)
  • - Statement of Ownership and Location Filing Fee with the State of Texas - $55
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Seller's Fees:

  • - Settlement Fee - $295 (includes $275 Escrow Fee and $20 per payoff for Overnight Package Fees)
  • - Tax Certificates - $10 per tax account
  • - Recording Fees - $30 per lien release (see note below regarding recording fees)
  • - Document Preparation (payable to Bradshaw, McCall & Westbrook, PLLC) - $375 (includes $150 for deed; $150 for Statement of Ownership and Location; and $75 per lien release)
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FOR A MAILOUT (When a Party Doesn't Come to Closing):

  • - For buyers, our settlement fee will be increased by $130, which includes an additional $50 processing fee and an additional $80 in courier fees (for overnight delivery both ways)
  • - For sellers, our settlement fee will be increased by $70, which includes an additional $50 processing fee and an additional $20 in courier fees (we will e-mail the package out and have it overnighted back)
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RECORDING FEES

  • - The recording fees referenced above are estimated based on typical transactions.  Actual fees at closing will be calculated for each document at $26 for the first page and $4 for each additional page
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BRADSHAW, MCCALL & WESTBROOK, PLLC ADDITIONAL DOC PREP/ATTORNEY FEES (as part of a closing):

  • - Note/Deed of Trust - $200
  • - Homestead Affidavit (if required for a loan) - $50
  • - Mechanic's Lien Construction Loan Document (5 documents) - $250
  • - Bill of Sale - $150
  • - Power of Attorney (includes POA affidavit & recording) - $156
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IMPORTANT NOTES REGARDING FEES:

  • - These figures are estimates only, based on typical transactions and using the customary split of closing costs.  Actual splits between buyer and seller may vary based on the terms of the contract.
  • - In transactions that are more complicated (such as double loans, commercial transactions, etc.), fees may be higher.
  • - All fees are subject to change and can vary signficantly due to the facts and circumstances of each specific situation.

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Closing Protection Letter

We can have our underwriter, First American Title Insurance Company, issue you an insured closing protection letter to verify the our authority to issue the title policy. Additionally, in the closing protection letter, First American will indemnify the lender for any errors or dishonesty with escrow or closing funds. These letters are issued incidentally to title insurance at no additional cost. If you need an insured closing protection letter, please notify the closer in our office that is handling your file.

Closing Process

At First Texas Title, we typically become involved in transactions in one of several ways. Many times we receive a fully executed contract from one of the involved realtors or, in the event of a for sale by owner transaction, one of the parties. In refinance transactions, we typically become involved when the lender forwards us a request for a title commitment.

If you have clients who have agreed to terms with a seller but don’t have a contract of sale, our affiliates at Bradshaw, McCall & Westbrook, PLLC will be glad to prepare a contract for them.

Once we receive a fully executed contract or a request for a title commitment, we begin by assigning the file to one of our three closers and conducting the title examination necessary to complete the title commitment.

At First Texas Title, we pride ourselves in our quick turnaround time for title commitments. Our typical turn around time is one week, although we often have it completed sooner than that. If you have a transaction that requires a quicker turn-around, just let us know and we will work with you to ensure that even the most demanding of timelines are met.

Once the title work is completed, one of our closers will work closely with you to solve title issues, work up the Settlement Statement, and ultimately close the transaction in as timely a manner as possible.

Almost all of our closings are handled by one of our attorneys. We believe it is important for your borrower to understand the nature of the documents they are signing, and for that reason, we take the time to briefly explain each document to your borrower and answer any questions they may have.

Representation Letter

The law firm of Bradshaw, McCall & Westbrook, PLLC and its attorneys represents only First Texas Title Company, LLC in all aspects of the closing of real estate transactions and preparing documentation for real estate transactions. Bradshaw, McCall & Westbrook, PLLC, William W. Bradshaw, Andrew K. McCall, and Chris Westbrook are prohibited from acting as attorneys for or giving legal advice to the buyer, borrower, seller, or lender in such transactions. The buyer, borrower, seller, and lender in any real estate transaction are advised to have their own attorneys review and give advice regarding any aspect of such transactions.

With regard to the preparation of documents for a closing, Bradshaw, McCall & Westbrook, PLLC is retained solely to (i) prepare all or part of the documents required by a contract of sale by and between the buyer, borrower, and seller and/or any lending arrangement by and between the borrower and its lender; and/or (ii) in some cases, prepare a contract of sale in accordance with the instructions of the parties in a format acceptable to First Texas Title Company, LLC and its underwriter. Additionally, in the closing of real estate transactions, First Texas Title Company, LLC is engaged solely to (i) provide notary services; (ii) close the transaction; and, if applicable, (iii) issue owner and/or loan title insurance policies in connection with the transaction. Bradshaw, McCall & Westbrook, PLLC, First Texas Title Company, LLC, and all of the individual attorneys and employees of each will not negotiate any agreements between the buyer, borrower, or seller or the borrower and its lender and will not render legal advice to the buyer, borrower, seller, or lender.

Any fees payable to Bradshaw, McCall & Westbrook, PLLC and/or First Texas Title in connection with a closing are for the provision of the above-identified services only and shall be set forth on the applicable closing statement.

Seller Information

Lender Information

Buyer Information