TESS Savings℠ Brings Value to Your Closing
TESS is Title Efficiency in Settlement Services and is your key to the best value in closing and escrow services. By bundling the core services and products that most people require, TESS Savings℠ can help you save on your settlement costs.
Our Role of the Closing Attorney and Title Company
We are local! That's important because we will be performing an extensive search of the real estate records located at the courthouse. As a part of the title examination, also known as title abstract, we verify the owner's legal ability to sell the property to a homebuyer without claims or defects. Or, in the case of a refinance, the search assists in determining whether any existing mortgage or other liens need to be cleared as a part of the escrow closing.
Once the real estate ownership record is confirmed by a clear chain of title, title policies are issued to the homebuyer and lender, if there is a loan involved. The insurance premiums for title policies are paid one time at closing, and protect the owner's legal interest in the property and equity. It is not uncommon for properties to have a title issue arise. These are most commonly detected at the time of sale or refinance. However, most homeowners never hear about them because they are covered by the title policy issued at their purchase closing.
Once the real estate ownership record is confirmed by a clear chain of title, title policies are issued to the homebuyer and lender, if there is a loan involved. The insurance premiums for title policies are paid one time at closing, and protect the owner's legal interest in the property and equity. It is not uncommon for properties to have a title issue arise. These are most commonly detected at the time of sale or refinance. However, most homeowners never hear about them because they are covered by the title policy issued at their purchase closing.
Compare Your Closing Costs
Comparing closing costs can be confusing. Title charges can be lumped into two categories: the cost of the actual title policies and then everything else. Elsewhere the "everything else" category can be extensive and get quite creative. The important thing to remember is that an abundance of small items can add up to a very large amount. That's where TESS Savings™ can help. By bundling all of the common services and products that all transactions require, the confusion is eliminated.
You Choose Where You Close
Is it important for you to make the decision where to close, rather than leaving the decision up to someone else? We think so. It's your right to choose where you want to close, either in a refinance or purchase transaction. Be wary before signing any purchase agreement. An "Affiliated Business Relationship" is no more than a fee splitting arrangement. This almost invariably means higher costs for the consumer. The revenue lost on the fee sharing has to be made up somewhere. No Little Orphan Annie decoder pin required to understand that. Choose wisely and make your voice heard and your choice be known.