Full Service Closing And Title Services

Oklahoma Closing & Title Service is a complete full-service closing and title service that will handle your real estate transaction from start to finish to ensure that your rights as the property owner are protected. We have been based in the Stillwater area since 1980 and offer personal and the best possible experience for all our clients. "We are local, we are family, and we are invested in our community."

Abstracting

An abstract of title is a bound compilation of the history to a particular piece of real estate. An abstract shows the entire chain of ownership from the time of the original grant to all subsequent conveyances and encumbrances. This set of documents will also include any items filed in the court clerk’s office that pertain to the land. Therefore, the abstract can be used to establish “marketable title” to a piece of property. When the abstract has been brought to date, an abstractor will place a “certificate page” at the end of the abstract. This page certifies that the abstract includes all pertinent documents filed in land records, ad valorem tax payment status, personal property tax payment status, and any other court items that fall within the time period covered by the certificate.

Title Insurance

Title insurance is a way to protect yourself from financial loss and related legal expenses in the event there is a defect in title to your property that is covered by the policy. Title insurance differs from other types of insurance in that it focuses on risk prevention, rather than risk assumption. With title insurance, title examiners review the history of your property and seek to eliminate title issues before the purchase occurs. Title insurance also differs in that it comes with no monthly payment. It’s just a one-time premium paid at closing.

Learn More About Title Insurance

Escrow & Closing


Escrow is a legal agreement in which a third- party controls money until two other parties involved in a transaction meet certain conditions. Think of escrow as a mediator that reduces risk on both sides of a transaction. When it comes to real estate transactions, escrow is used to temporarily hold a buyer’s earnest money (or good faith deposit), which demonstrates a level of seriousness in following through with the eventual purchase of the home. While your real estate transaction is in escrow, your escrow officer will work with you to make sure the right steps are taken at the right time. Tasks that the escrow holder may complete include:

  • Coordinating communications between all parties in the transaction
  • Requesting a preliminary report or commitment
  • Requesting a statement of identity (information) from the buyer or seller as needed
  • Receiving bills from home warranty companies, as well as pest, roof, home and other inspection companies
  • Preparing or securing the deed or other recordable documents
  • Complying with lender’s requirements
  • Prorating taxes, interest, and insurance 
  • Receiving purchase funds required for closing
  • Coordinating recording of deeds and any other necessary documents

The closing is the final exchange in the sale and purchase of real estate in which the deed of title is delivered from the seller to the buyer, financing documents are signed, and the agreed-on costs are paid. Some of the final documents, including the deed and mortgage, are then delivered to the county clerk’s office to be recorded.

Escrow & Closing


Escrow is a legal agreement in which a third- party controls money until two other parties involved in a transaction meet certain conditions. Think of escrow as a mediator that reduces risk on both sides of a transaction. When it comes to real estate transactions, escrow is used to temporarily hold a buyer’s earnest money (or good faith deposit), which demonstrates a level of seriousness in following through with the eventual purchase of the home. While your real estate transaction is in escrow, your escrow officer will work with you to make sure the right steps are taken at the right time. Tasks that the escrow holder may complete include:

  • Coordinating communications between all parties in the transaction
  • Requesting a preliminary report or commitment
  • Requesting a statement of identity (information) from the buyer or seller as needed
  • Receiving bills from home warranty companies, as well as pest, roof, home and other inspection companies
  • Preparing or securing the deed or other recordable documents
  • Complying with lender’s requirements
  • Prorating taxes, interest, and insurance 
  • Receiving purchase funds required for closing
  • Coordinating recording of deeds and any other necessary documents

The closing is the final exchange in the sale and purchase of real estate in which the deed of title is delivered from the seller to the buyer, financing documents are signed, and the agreed-on costs are paid. Some of the final documents, including the deed and mortgage, are then delivered to the county clerk’s office to be recorded.

1031 Exchanges

When it comes to real estate transactions, a 1031 exchange is a swap of one investment property for another that allows capital gains taxes to be deferred. The term actually comes from the IRS code section 1031. There are several requirements that have to be met to qualify, such as the exchange can only be made with like-kind properties as the IRS limits use with vacation properties. There are other variables also, such as tax implications and time frames to consider. If you think this might be a provision that will work for you, contact our team at Oklahoma Closing & Title Services to find out more information.

ABSTRACTING EXTENSIONS

SURFACE ONLY

Time Limit Fee Amount
Less Than 1 Year $375
1 - 5 Years $550
5 - 15 Years $650
Over 15 years $750
Complete Abstracts from Sovereignty $900
UCC Search $75.00
Pre-Closing Gap Check $50.00
Buyers Check $75.00
Final Title Report for Title Insurance $200.00
Final Abstract for Title Insurance (180 days or less) $275.00
10 Year Title Search $200.00

ABSTRACTS CERTIFIED TO BOTH SURFACE AND MINERALS

Items Fee Amount
Uniform Abstract Certificate Charge $300
Charge Per Page $6
Other Fees $5 Per Name Over 20