Closing & Escrow Services
Our closing teams are prepared to efficiently and promptly proceed with the steps necessary to complete your transaction upon receipt of a Contract for Sale or an order for a refinance transaction. In a sales transaction, our closers will review the contract to determine matters such as whether the buyer has requested a title opinion or title insurance, the type of survey required, if any, the responsibilities of the parties for the payment of various fees, and any special contract provision and then proceed based upon the party that they represent in the transaction. Our closers are trained to accurately prepare the Settlement Statement prior to closing based upon the duties and responsibilities of the parties as set forth in the Contract. With nationwide threats of wire fraud and email hacking, we treat the security of your information and funds very seriously. Our emails and software are secure and encrypted for your protection.
Title Insurance
Title insurance provides protection against title defects existing at the time that real property is acquired and stays in effect until the real property is transferred to a third party. Title defects may include, but are not limited to, claims of ownership by individuals other than the current seller, defective conveyances, lack of legal access, unreleased mortgages, improperly assigned mortgages, unreleased tax, judgment or mechanic’s and materialmen’s liens, defective legal proceedings, and non-compliance with statutory requirements. In Oklahoma, every commitment for title insurance is required to be based upon the examination of either an abstract certified from state sovereignty or a prior owner’s title insurance policy and a supplemental abstract by a licensed attorney. The title commitment is the contract between the buyer and the insurer for title insurance and sets out the requirements that must be met prior to the title company issuing the title policy and the matters that will not be covered by the policy, the exceptions. The requirements will include curing any existing title defects identified by the attorney along with basic requirements such as the recording of a conveyance from the seller to the buyer. Your real estate purchase may be one of the most significant investments that you make during your lifetime, so protect it with title insurance.
Our Underwriters
Community Title Services offers title policies through Old Republic National Title Insurance Company, Fidelity National Title Insurance Company, Stewart Title Guaranty Company, Chicago Title Insurance Company, and Commonwealth Land Title Insurance Company. Our ability to underwrite under multiple reputable national title insurers is a significant benefit. In the event that a title defect is discovered, we may be able to work with the underwriter for the seller’s existing owner’s policy in order to develop a solution to allow the transaction to move forward towards closing with less delay.