Title and Closing FAQs

Why should I close my real estate transaction with the McBryde Firm?

The McBryde Firm offers clients an added layer of protection during this extremely important process of a purchase or sale.  By having an attorney review every document and be present at the closing you will remain informed throughout the entire process to ensure your rights.

Furthermore, the McBryde Firm employees have prior experience in underwriting, mortgage servicing and appraisals.  If any complications arise, rest assured the employees of the McBryde Firm can handle the situation.

Does closing with the McBryde Firm cost me more money than closing with a title company?

No.  Title insurance is regulated by the State of Texas and costs the same regardless of where you close your title transaction.

Fees that differ between title companies are mainly escrow fees charged to the buyer and seller.  The McBryde Firm’s escrow fees are comparable or lower than title companies in the Austin area.

What is title insurance?

Title insurance is insurance that protects against defects in title.  Title defects can arise in a multitude of ways.

Examples of title defects include but are not limited to fraud, forgery, incorrect legal descriptions, mental incompetence of grantors, unreleased liens, undue influence and incorrect indexing.

Why do I need title insurance?

Simply put, you need title insurance to protect your investment. Title Insurance typically costs 0.7% of the real estate purchase price.  There are many moving parts to each transaction, and if one person makes a mistake, you could lose a significant amount of money or your entire investment.  For such a small price in relation to your overall costs, it would be a mistake not to purchase title insurance.

What is a wrap-around mortgage?

A wrap-around mortgage is a mortgage that simply “wraps around” an existing mortgage.  The current owner remains responsible for the first mortgage on the property, and the second, or “wrap-around” mortgage, is assumed by a new purchaser of the property.

In the current economic climate with record low interest rates, it is very possible that wrap-around mortgages will become more common.  The employees of the McBryde Firm can help you with drafting the legal documents and closing a wrap-around mortgage transaction.

Why does the McBryde Firm offer closing services at rates similar to title companies?

The McBryde Firm strongly believes in providing clients with the best title services available at a fair price.  We have a wealth of experience in the Austin real estate market, and we believe treating our clients fairly and providing affordable closing services will maintain our reputation in the industry and retain our clients’ future business.

If it is easier for the clients and Realtors involved, will the McBryde Firm close transactions at other locations?

Yes.  The McBryde Firm will close the transaction at the most convenient place to the parties involved (with the exception of homestead equity refinancing which, by law, must be closed in our office).

The McBryde Firm is not as large as your typical title company and takes pleasure in making our clients’ lives easier.  We not only offer to close transactions at Realtors’ offices but encourage it if it will make all of the parties more comfortable doing so.