Realtors

Brennan Title Company is compliant with Consumer Finance Protection Bureau (CFPB) rules governing Federally Insured Real Estate transactions. To that end, we have adopted ALTA's Best Practices, and take the security of your client very seriously. Our licenses and Insurance are available upon request.

Frequently Asked Questions

• What is title insurance?
• When will my clients see a Final Closing Disclosure? (When will buyer/borrowers know the amount needed for settlement, and when will the seller/borrower know the proceeds to expect at settlement?)

  For a cash transaction, Brennan Title Company can prepare and send to you a Settlement Statement as soon as we have received all of the financial information required, such as a final payoff for any loans/mortgages against the property or for any judgments/liens against the seller or buyer, real estate tax information, Commission, Homeowners Association or Condominium Association transfer and billing information, and the date of settlement. We input these figures into the Settlement Statement and pro-rate those fees and taxes through the date of settlement.

  For transactions involving a new loan, The buyers lender is required to send the buyer a Closing Disclosure 3 days prior to your closing.

• What types of funds are acceptable for closing?

  WIRE TRANSFER. Please ask your processor or settlement officer for wiring instructions. Please advise your bank, when initiating a wire transfer, that we are NOT ABLE TO ACCEPT ACH CREDITS, as those funds can be withdrawn from our account without our consent. If we have to accept a cashier’s check, Funds will not be able available for disbursement until the origination bank released the funds to our account. This may take 5-7 Business days. In this case, all parties to the transaction must agree that no funds will be disbursed until we have all funds. Please ask your processor or settlement officer for wiring instructions.

  For funds below $1,000, we can accept Cashier's Checks made payable to Brennan Title Company. Funds in excess of $1,000 that are paid by Cashier's Check will NOT BE AVAILABLE FOR DISBURSEMENT ON THE DAY OF CLOSING. These funds are not available in our escrow account until the originating bank releases them, which may take 5-7 Business days. When a cashier's check is presented as payment, all parties to the transaction must agree that no funds will be disbursed until the funds have been received by Brennan Title.

• When should my buyer transfer funds to Brennan for the closing?

  A wire transfer should be initiated no later than the day before your settlement date.

• How are taxes and HOA/Condo Dues handled at settlement?

  Real Estate Taxes and Homeowners Association/Condominium Association dues are pro-rated on the Closing Disclosure as of the day of settlement. Any fees, dues, or taxes paid by the seller that cover a period in the future will be reimbursed to the seller by the buyer. Any fees, dues, or taxes paid or to be paid by the buyer for a period of time prior to settlement will be reimbursed to the buyer by the seller. Tax periods and tax due dates vary between and among jurisdictions, so please inquire with your settlement office for specific numbers.