Escrow & Title
In Texas, a 'title commitment' Schedule B-I (requirements) might include which of the following items that must be completed before the title company will issue the final policy?
AThe buyer's credit score
BPayment of all outstanding taxes and water bills, and release of existing liens by sellers✓ Correct
CApproval from TREC
DA new appraisal ordered by the title company
Explanation
Schedule B-I of a Texas title commitment lists requirements—conditions that must be satisfied before the title company will issue the final title insurance policy. Common requirements include: paying all outstanding property taxes and municipal utility charges, releasing existing mortgage liens (paid off at closing), correcting legal description errors, and other title issues that must be resolved.
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