Scheduling: Our typical turnaround time for title commitments is 10 business days.  When the commitment is issued, we will advise what specific items must be completed before the closing can be scheduled on your transaction.  The closing cannot be scheduled until all title issues are resolved, the survey (if required)has been received and approved by Yates Title, and the lender (if any) hascleared the file for closing.  Theclosing date written in the Contract is always the goal; however, the closingis not scheduled until you receive a confirmed date and time from Yates Title. 

Funds:Forclosing, the parties are required by law to pay any money due with "goodfunds."  Pursuant to the TexasDepartment of Insurances regulations, a transaction cannot be funded until themoney received from the parties has been cleared by the issuing bank.  For a wire or cash payment, the funds are cleared immediately upon deposit into Yates Titles escrowaccount.  For cashiers checks, theissuing bank can take up to 5 business days to clear the funds.  Please note ACH transfers, Credit Cardpayments, and Debit Card payments do not qualify as good funds and cannot beaccepted.  Yates Title will fund your transaction once all deposits have cleared.

RealtorsCommission Payments:  If the contractdoes not specifically state otherwise, we assume that the total Realtors Commissionis 6% of the purchase price split equally between the Brokers.  We will prepare commission checks payable tothe Broker Firm listed on the contract. If you wish for the commission to be paid to another entity or with adifferent split, please submit a Commission Disbursement Agreement (CDA) in writingto service@yatestitle.com as soon as possible.