P22 Closings
And Title Fee Law Firm
P22 Title Fee
As a commercial real estate business, you are probably aware of P22 title fees and all that it entails. However, for those of you who are unsure, here is a quick overview: A P22 title fee is the fee that is paid to an attorney in Texas who is not licensed to act as an escrow officer, but who has the ability to close a real estate transaction in the name of a law firm. This is allowed under Procedural Rule P-22 of the Texas Department of Insurance, which is unique to the state of Texas.
Buying commercial real estate is a big investment, and it’s important to make sure that these complex transactions are handled properly. Our extensive experience in the commercial real estate market allows our attorneys to foresee potential obstacles or pitfalls, de-risk the transaction, and ensure that everything goes smoothly.
- Conducting a UCC (Uniform Commercial Code) lien search to identify any existing liens against the property.
- Drafting and reviewing the Letter of Intent and commercial purchase contracts.
- Mitigating third-party delays by effectively communicating with all involved parties.
- Ensuring compliance with the closing requirements established by the Texas Real Estate Commission (TREC).
- Verifying the accuracy and completeness of the Closing Disclosure.
- Coordinating with the lender for commercial closing loan costs.
- Providing a breakdown of the costs and associated fees involved in the transaction.
- Conducting thorough title searches to identify any encumbrances or restrictions.
- Assisting with zoning reviews and conducting zoning diligence.
- Advising on different ways to take title and facilitating the proper vesting of title.
- Facilitating the process of adding a name to a commercial property deed in Texas.
- Safeguarding confidentiality during the commercial transaction process.
- Reviewing covenants and restrictions that may affect the property's use.
- Ensuring proper endorsements for title insurance.
- Assisting in obtaining a comprehensive commercial title policy to protect against potential risks and claims.
Throughout their careers, the attorneys at Bukowski Law Firm have provided comprehensive services related to commercial real estate property in Austin, Dallas, Houston, San Antonio and throughout the State of Texas. Our attorneys have the experience to understand the dynamics of commercial real estate projects and to resolve both the business and legal issues that can arise.
Commercial real estate matters can be overwhelming and complicated, do not try to navigate these complex waters alone. Trust the experienced real estate attorneys at Bukowski Law Firm. We have the skills, experience, and resources needed to assist with these intricate matters.