Item 23 - Real Estate Title and Escrow Services

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GFideli. y National Title NATIONAL COMMERCIAL SERVICES City of Santa Ana -- RFP NO.20-123 • Title will work with escrow company in communicating conditions required to be satisfied in order to provide a policy of title insurance • Title will work closely with escrow company to complete the closing process • Title will record documents relevant to a specific transaction i.e. grant deeds, certificates of acceptance, memoranda of agreements and other related documents with the appropriate County Recorder's office • Provide conformed copies to the appropriate parties of the recorded documents • Title staff will be available to meet with the Client or other parties as necessary • Title r ill provide escrow and the Client with an updated title report prior to close;of escrow • Title and escrow will work with the Client in developing status reports as requested • Preliminary title reports typically take 7 to 10 business days to produce. Due to the complexity of a search the timing may take longer and a once title analyzes the sites involved a timeline will be provided Escrow Process 1. Title and escrow will work with the Client in developing status reports as requested 2. Title reports and a hyperlinked title report with underlying documents will be emailed to the client 3. Requests for title information will be emailed to the title unit 4. Title unit will respond with a title order number(s) that are assigned for reference purposes. Typically our title and escrow numbers are the same, 5. Client will contact escrow officer when escrow is needed and provide a copy of the executed agreement. 6. Escrow will email Client with the assigned escrow number. 7. The dontract will act as Escrow Instructions. 8. Escrow will only comply with written instructions provided by parties to the agreement. No verbal instructions will be accepted. 9. Escrow will prepare any amendments or other documents as instructed if permitted under current escrow procedures. 10. Escrow and title will follow instructions provided from the Client or other parties to the transaction as to title insurance coverage required. 11. Title and Escrow will work together to close a transaction based on instructions received from the parties to a transaction or their legal counsel. 12. Title will deliver documents to the appropriate County Recorder's Office for recordation. 13. Escrow is in a position to close the transaction once all conditions of the escrow are satisfied and confirmation is received from all parties to close and disburse funds.