Item 23 - Real Estate Title and Escrow Services

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G.'Fidelity National Title NATIONAL COMMERCIAL SERVICES City of Santa Ana — RFP NO.20-123 Understanding of Need iequests from our clients for title work will typically be emailed to the title unit requesting title report or research on specific areas or parcels that may or may not lead to the suance of a title insurance policy. Title will ask what the purpose of the report is. For example an Owner's Policy, a Litigation Guarantee, a Subdivision Guarantee, a chain of title or a report for informational purposes only. This information is necessary as it will affect the fee for the proposed title work/title reports. Title will request that the legal ascriptions, assessor parcel numbers and/or depictions of the property to be searched e provided if possible. If not easily available, title will assist in helping to identify the property/properties in question and will assist in confirming ownership of various parcels. Title can also assist in identifying property ownership by an owner's name as well. irm quotes for title insurance policies, litigation guarantees and escrow services can be provided once the liability amounts and sales prices are known. The timeline to produce a preliminary report is typically from 7 to 10 business days. Occasionally more time may be required due to the complexity or the need to retrieve documents that Ere not readily available in our title plant. This frequently occurs when searching right-df ways, government -owned properties, and properties that have not been previously insured or have been insured many years in the past. For this reason it is not possible to provide a quote for title work without first analyzing the sites and areas i question. This analysis will typically take a few days at which time we will be able to rovide a firm title quote for the work. The cost for a title insurance policy will be rovided based on the liability amount of the policy that will be issued and are shown in the Fee Proposal that is included in this proposal. The cost for escrow services will be used on the sales price. Title policies are typically issued within 48 hours after the close escrow.