TNT Blog  |  Closer's Corner

Communication and education are two things the entire Texas National Title team values when interacting with our customers. Here on our blog, our president—Latra Szal—combines both ideas and provides her thoughts with our fellow real estate professionals in mind.

Protect Yourself from Listing Fraud

Listing fraud and seller impersonation has becomea very serious threat in the real estate community.  Agents are getting deceived into taking listings from fraudsters and in some cases even going all […]
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MUD, PUD, or PID?

What is the difference and what should a realtor know? When a property is located in a PUD, MUD or PID there are disclosures that are required of the transaction and […]
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Closings Involving a Trust

TRUSTS IN GENERAL: What are they?Trusts in themselves are not legal entities which can own, manage or sell property.  A trust operates through one or more trustees, who usually are […]
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Surveys: What is Important for a Realtor to Know

What is a Survey?A real property survey is a report that indicates the location of improvements relative to the boundaries of a property. A real property survey report generally contains […]
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Taxes and Closing Pitfalls

In previous Closer's Corner articles we have discussed taxes and how they can affect your transaction:Property Tax Time Property Taxes This month we will specifically look at the Over 65 […]
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Understanding the Funding Process

One of the most important times in a closing is when the transaction finally funds! That is the time when ownership transfers from the seller to the buyer and there […]
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Area and Boundary Coverage a/k/a Survey Deletion

What is it? When putting an offer together, realtors have the option of checking a box in the contract that could end up being very important to a buyer down […]
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Title Policy Coverage

WHAT IS A TITLE POLICY?  One of the single most expensive transactions someone may enter into in their personal lives is often the purchase of real estate. Because of the […]
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What a Realtor Should Know About Divorce and Title Insurance

If you’ve ever received a title commitment back from your title company showing a requirement related to a divorce for your client you’ve likely wondered why there are additional requirements […]
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Homeowners’ Associations: How Can They Affect a Transaction?

What is an HOA? A homeowner’s association (HOA) is an organization in a subdivision, planned community, or condominium building that makes and enforces rules for the properties and its residents. […]
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A Realtor's Guide to 2021 Legislative Changes

This past legislative session saw the enactment of a few bills that can affect the real estate transaction. Below is a brief summary of each one. Senate Bill 1588: Resale […]
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Selling Property With A Probate Involved

In a previous Closer’s Corner we talked about what happens to a property when an owner dies without a will:  www.texasnationaltitle.com/article/deathandsellingproperty In this Closer’s Corner we are going to discuss […]
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TREC Contract Addendum Change: HOA Fees

In earlier Closer’s Corners we’ve discussed the big change as to option fees in the new contracts: https://texasnationaltitle.com/article/option-money-and-contract-changes Let’s now look at how HOA fees are handled in the new Addendum […]
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Option Money and Contract Changes

In our February Closer’s Corner we talked about the big changes to the TREC contract, most specifically the change that now directs option money to be deposited with the title company.  www.texasnationaltitle.com/article/contract-changes […]
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CONTRACT CHANGES

AN UPDATED CONTRACT IS BEING INTRODUCED IN FEBRUARY 2021 During the November 2020 quarterly meeting of the Texas Real Estate Commission (TREC), several rule changes were proposed and form changes were […]
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Condominium Conversions

As the population of Austin continues to grow we are seeing more and more developers who want to maximize space on lots.  A very popular way to do this is […]
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Tax Foreclosure

If you have clients that buy properties at a tax foreclosure there can be some hidden issues that they need to be aware of for their purchase.   Tax Foreclosure: A […]
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Remote Ink Notarization “RIN”

Another Reduced Contact Closing Option The COVID pandemic has affected how real estate transactions are handled and many of your clients want to have reduced contact closing options.  We have […]
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Understanding The Title Commitment

TITLE COMMITMENTS: WHAT ARE THEY?A commitment for title insurance (“Title Commitment”) provides a buyer and lender with terms and conditions for how the final title policy will be issued.  Title insurance offers protection for […]
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Property Tax Time

Every year when the taxes come out we see a lot of confusion between buyers and sellers about how those taxes affect their transaction.  Since one of our taxing authorities […]
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What does a realtor need to know about Power of Attorney Use?

What is a Power of Attorney?A Power of Attorney (hereinafter “POA”) gives another person the authority to make personal and financial decisions on the principal’s behalf.  A POA can cover […]
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Guardianship: What is it and how does it affect your real estate closing?

The need for a guardianship in a real estate transaction can arise in several ways.  If someone in title is a minor child (likely through inheritance) a type of guardianship […]
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Transferring Title to an LLC or Trust After Closing

Realtors are often asked by clients if they can deed a property they bought into a company or trust they own after closing.  You should be aware that doing so […]
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10 Fun Facts About Federal Tax Liens

A Federal Tax Lien (herein after "FTL") is a lien filed by the Internal Revenue Service for unpaid taxes.  Below are 10 fun facts for how an FTL can affect […]
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Common Closing Delays

In this month’s Closer’s Corner we review the top items that can occur that run the risk of delaying your closing.   T-47 & Survey Matters  When the title company […]
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HOMESTEAD RULES

I.  WHY DOES IT MATTER IF A PROPERTY IS HOMESTEAD IN A REAL ESTATE TRANSACTION?The Texas Constitution makes a requirement that before someone’s homestead be sold or borrowed against the […]
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Mechanic’s Liens

When a contractor performs work on a property they gain the right to file a lien affidavit if they are unpaid.  The mere fact that they worked on the property […]
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Spotlight on Fixture Leases, UCCs Filings and Real Estate Sales

In the April 2021 contract changes Paragraph 4 was added to the contract to address different leases that could be applicable to the transaction.  The one covered in this article […]
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Death and Selling Property

When there has been a death in the chain of title, the transaction can be very complex.  If not handled properly a realtor could find themselves with some serious issues.  A […]
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Right to Terminate Due to Lender’s Appraisal

Last year TREC promulgated a new form that allows a buyer to alter the existing Third Party Financing Addendum. The Third Party Financing Addendum permits a buyer to cancel the […]
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Foreign Investment in Real Property Tax Act (FIRPTA)

What is FIRPTA?  The Foreign Investment in Real Property Tax Act (FIRPTA), enacted in 1980, requires foreign persons to pay U.S. income tax on the gains they make from selling […]
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A Surge in Wire Fraud: During the Coronavirus Pandemic

How Real Estate Industry Professionals Can Avoid And RespondIt has become a sad truth that our current situation has created the prime opportunity for hackers to exploit fear, isolation and […]
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Adjustments To The Process

Solutions & Precautions For Real Estate Transactions in a Time of Crisis  As we navigate each day together during this difficult time, we’re all finding ourselves quickly adapting to change […]
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Multiplying a Single Family Lot

Many developers and real estate investors seeking to maximize lot space are interested in taking a single family lot and converting them into two (or more) unit condominium buildings.  This […]
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Closing and Funding

Congratulations! Your file has made it to the closing table and all parties have signed.  Now what?? Many buyers and sellers come to closing with misconceptions about what they think […]
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PROPERTY TAXES: What should an agent be concerned about?

THE BASICS Taxation of real property in Texas is controlled by provisions found in the Texas Constitution and the Texas Tax Code.  Because taxes are based on the assessed value […]
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T19.1 ENDORSEMENT

An endorsement is something that changes the terms of the coverage in the title policy to the buyer or lender’s benefit. It is an attachment to the policy that generally […]
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Homestead

I. WHY DOES IT MATTER IF A PROPERTY IS HOMESTEAD IN A REAL ESTATE TRANSACTION? The Texas Constitution makes a requirement that before someone’s homestead be sold or borrowed against […]
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PRIVATE TRANSFER FEE: A NEGATIVE SURPRISE FOR CLOSING

PRIVATE TRANSFER FEE: WHAT IS IT? A private transfer fee is a fee that must be paid each time a property is sold.  In general there can be two types […]
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RIGHT OF FIRST REFUSAL: A NEGATIVE SURPRISE FOR CLOSING!

RIGHT OF FIRST REFUSAL: WHAT IS IT? A right of first refusal (ROFR) is a contract that gives one party (we’ll call them the “ROFR holder”) the right to be the […]
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Frequently Asked Realtor Questions

This month we wanted to focus on answering more questions that we are frequently asked. Below are a few of the most popular ones we’ve received recently.     WHAT IS […]
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Frequently Asked Questions: Contracts

This month we wanted to focus on answering the questions that we get asked often.   What is the effective date and what date should I put for the effective date […]
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How Industry Professionals can Avoid and Respond to Wire Fraud

Wire fraud has become rampant in our industry. The FBI has estimated that there are over 4,000 hack attempts per day nationwide. According to the Financial Crimes Enforcement Network (FinCEN) […]
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What is Title Insurance? Why would someone need it?

One of the single most expensive transactions someone may enter into in their personal lives is often the purchase of real estate.  Because of the significant investment involved in a […]
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TITLE POLICY ENDORSEMENTS: WHAT ARE THEY?

An endorsement is something that changes the terms of the coverage in the title policy.  It is an attachment to the policy that generally offers more coverage from what is […]
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TREC CONTRACT CHANGES

The Texas Real Estate Commission adopted changes to the mandatory contract forms in February. The updated forms are available for use now and become mandatory for use May 15, 2018. […]
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DISCLAIMER: The material contained herein is for informational and educational purposes only. It should not be used as a substitute for legal advice. If legal advice is required or desired, the services of a competent attorney should be sought. Except as noted or contained in any third party links, the contents of this document are the property of Texas National Title, Inc. Reproduction without prior written permission from Texas National Title is prohibited.
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- Texas National Title - All Rights Reserved.
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