FAQs & Answer Center

A Texas title company performs a title search, issues title insurance, handles escrow, and manages the closing process. They research the property's ownership history, identify liens and encumbrances, prepare closing documents, hold funds in escrow, and ensure the deed transfers properly.

A standard title commitment typically takes 5 to 10 business days, depending on the county and complexity of the title. Rush title searches can be completed in 1 to 3 business days. Contact 1st Option Title for current turnaround times.

Title insurance protects the buyer and/or lender from financial loss due to title defects that weren't discovered during the title search. This includes risks like forged documents, unknown heirs, recording errors, and undisclosed liens.

While title insurance is not required for cash buyers (no lender requires it), it is strongly recommended. Without title insurance, the buyer has no protection from title defects discovered after closing. A Property DNA Report can also help identify issues before closing.

Title insurance rates in Texas are set by the state and are the same regardless of which title company you use. The premium is based on the sale price or loan amount. Contact 1st Option Title for a specific quote based on your transaction.

Yes. Title companies can close wholesale transactions, whether structured as an assignment of contract or a double closing. 1st Option Title specializes in wholesale closings and handles both structures regularly.

A double closing (back-to-back closing) is when an investor buys a property and immediately resells it to an end buyer within a short timeframe, usually one to three business days. Both closings are separate transactions with their own title searches and closing documents.

Yes, contract assignments are legal in Texas. The original buyer can assign their rights under a purchase contract to a new buyer, typically for an assignment fee. The title company coordinates the closing between the original seller and the new buyer.

1st Option Title handles all types of investor transactions: double closings, assignments, wholesale deals, fix-and-flip, rental purchases, portfolio transactions, hard money closings, private money closings, cash closings, and investor refinances.

We offer rush title searches and can close in as little as 1 to 3 business days depending on the transaction type and title complexity. Contact us to discuss your specific timeline.

Owner financing (seller financing) is when the seller provides the financing directly to the buyer instead of the buyer obtaining a traditional bank loan. The buyer signs a promissory note and the seller receives a deed of trust as security.

Seller financing is another term for owner financing. The seller acts as the lender, and the buyer makes payments directly to the seller according to the terms of a promissory note.

A subject-to transaction is when a buyer purchases a property subject to the existing mortgage. The deed transfers to the buyer, but the loan remains in the seller's name. The buyer makes the mortgage payments going forward.

A wraparound mortgage is a form of creative financing where the seller keeps their existing loan in place and creates a new, larger loan that 'wraps around' the existing one. The buyer pays the seller, who then pays the underlying mortgage.

If you discover a lien on a property, contact a title company or real estate attorney. Liens can often be resolved through payoff, negotiation, or legal action. 1st Option Title specializes in title clearance and can help identify and resolve liens.

A title defect is any issue with the title that could challenge ownership. This includes forged documents, errors in public records, unknown heirs, undisclosed heirs, missing signatures, and improperly recorded documents.

Often, yes. 1st Option Title specializes in resolving title issues. We research the problem, identify a solution, and work to clear the title. Contact us about your specific situation.

If title issues arise after closing, the title insurance policy may cover the loss. This is why title insurance is important. Contact your title company and attorney immediately if you discover post-closing title issues.

Yes. 1st Option Title provides commercial title insurance, escrow, and due diligence for all commercial property types including multifamily, office, retail, industrial, mixed-use, and development land.

Yes. We coordinate with qualified intermediaries and handle the title and escrow requirements for both the relinquished property and the replacement property in a 1031 exchange.

Yes. We handle LLC, trust, and corporate purchases. We verify entity authority, prepare entity-specific documents, and ensure proper title insurance coverage for the entity.