Fidelity National Title Buyer Package

Buyer Welcome Package








A handbook to help you through the closing process


Our professional team delivers exceptional, highly personalized service tailored to your specific needs on every transaction.



IMPORTANT WIRE FRAUD ALERT FOR HOME BUYERS























Realtors®, real estate brokers, closing attorneys, buyers
and sellers are targets for wire fraud and many have lost INQUIRE
hundreds of thousands of dollars because they simply relied
on the wire instructions received via email. BEFORE YOU WIRE.


A fraudster will hack into a participant’s email account to When in doubt, always call
obtain information about upcoming real estate transactions.
After monitoring the account to determine the likely timing
of a closing, the fraudster will send an email to the buyer For the best in service,
purporting to be the escrow agent or another party to the remember to always insist on
transaction. The fraudulent email will contain new wiring
instructions or routing information, and will request that the
buyer send funds to a fraudulent account.


We are urging everyone to INQUIRE BEFORE YOU WIRE and
to never rely solely on email communication. Always follow
these two simple steps:

STEP 1 Obtain the phone number of your Real Estate Broker, Realtor®, Closing



escrow folder. If you are reading this at one of our lobbies and you don’t




STEP 2 Prior to wiring, call the phone number you wrote down from step #1 above


you receive a change in wiring instructions supposedly from us or your




ESCROW NUMBER

BROKER’S NAME/PHONE

REALTOR’S NAME/PHONE

ESCROW COMPANY

ESCROW OFFICER’S NAME/PHONE

© 2017 Fidelity National Financial







The Buyer(s)
> Tenders a written offer to purchase (or accepts the Seller’s counter-offer) accompanied by a good faith deposit amount.
> Applies for a new loan, completing all required forms and often prepaying certain fees such as credit report and appraisal
costs.
> Approves and signs new loan documents and fulfills any remaining conditions contained in the contract and lender’s
instructions.
> Determines which hazard (fire) insurance agent to use to satisfy requirements to the lender.
> Deposits funds necessary to close the escrow and signs closing documents.

The Seller(s)
> Accepts Buyer’s Offer to Purchase and initial good faith deposit to open escrow.
> Submits documents and information to escrow holder, such as: addresses of lien holders, tax receipts, equipment warranties,
home warranty contracts, any leases and/or rental agreements.
> Fulfills any remaining conditions specified in the contract; approves the payoff demands and / or beneficiary’s statements.
> Approves any final changes by signing amendments to the contract, signs Warranty Deed and all closing documents.

The Lender (When Applicable)
> Accepts the new loan application and other related documents from the Buyer(s) and begins the qualification process.
Orders and reviews the property appraisal, credit report, verification of employment, verification of deposit(s), preliminary
report and other related information.
> Submits the entire package to the loan committee and/or underwriters for approval. When approved, loan conditions and title
insurance requirements are established.
> Informs Buyer(s) of loan approval terms, commitment expiration date and provides a good faith estimate of the closing costs.
> Sends Buyer(s) the required closing disclosure in advance of closing.
> Deposits the new loan documents and instructions with the escrow holder for Buyer’s approval and signature. Reviews and
approves the executed loan package and coordinates the loan funding with the escrow officer.

Fidelity National Title
> Receives an order for escrow and title services. Examines the public records affected and issues a Title Commitment.
> Determines the requirements and documents to complete the transaction and advises the parties.
> With authorization from the real estate agent or principal, orders demands on existing deeds of trust and liens or judgements.
> Prepares required documents in accordance with terms of the sale.
> Presents the documents, statements, loan package(s), estimated closing statements and other related documents to the
principal(s) for approval and signature.
> Receives the proceeds of the loan(s) from the lender(s) and buyer(s).
> Closes the escrow by preparing the final settlement statements, disbursing the proceeds to the Seller, paying off the existing
encumbrances and other obligations.
> Records the deed, deed of trust and other documents required to complete the transaction with the County Recorder Orders
the title insurance policies.

STRENGTH.EXPERTISE.SERVICE.

Fidelity National Title Insurance Company makes no express or implied warranty with respect to the information contained herein and accepts no liability for the consequences of any actions taken on the basis of said information.





Property Survey



Filing for a Texas Property



Tax Exemption







Why?


As the property owner, you are required to pay property taxes on the real estate owned. Filing for a Texas Property Tax Exemption will
reduce your property tax bill. It removes a part of the value of your property from taxation and lowers your taxes.

Where & How?


You will need to notify the taxing authorities of your new ownership so that the tax rolls will reflect the change. You can do this by contacting
the appropriate tax appraisal district in your county from the following:

Brazoria County Appraisal District 979.849.7792 www.brazoriacad.org
Fort Bend County Appraisal District 281.344.8623 www.fbcad.org
Galveston County Appraisal District 866.277.4725 www.galvestoncad.com
Harris County Appraisal District 713.957.7800 www.hcad.org
Montgomery County Appraisal District 936.756.3354 www.mcad-tx.org
Waller County Appraisal District 979.921.0060 www.waller-cad.org
Liberty County Appraisal District 936.336.5722 www.libertycad.com

Tax Exemptions

Effective January 1, 2022, buyers are immediately eligible to apply for a Texas homestead exemption. A homestead exemption may
reduce the amount of property taxes you will be required to pay yearly.

This new law provides property tax relief by allowing home buyers to file for a homestead exemption in the year they purchase the
property. A home buyer cannot claim a homestead exemption on more than one property and there is no cost for filing a Texas
homestead exemption.
In order to qualify for a residential homestead exemption, you must provide the following to the Appraisal District when submitting your
application:

**A copy of the applicant’s Texas driver’s license or Texas identification certificate**
NOTE: The property address on the exemption application must match the address listed on the applicant’s Texas driver’s license/Texas
Identification certificate; otherwise, the Chief Appraiser is prohibited from approving the exemption.

Contact your appraisal district or visit www.comptroller.texas.gov/taxes/property-tax/exemptions/ to learn more about Texas property
exemptions.

Tax statements are generally mailed in October of each year. The taxes are payable on or after October 31, however, you may elect to pay
them as late as January 31 without penalty. Taxes become delinquent February 1 and on this date penalties and interest do accrue. If you
receive a Tax Statement and your mortgage company is escrowing funds for taxes from your monthly payments, forward the statement to
your mortgage company so they follow-up on payment.




Fidelity National Title Insurance Company makes no express or implied warranty with respect to the information contained herein and accepts no liability for the consequences of any actions taken on the
basis of said information.









FidelityTitleHouston.com