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Item 23 - Real Estate Title and Escrow Services
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Item 23 - Real Estate Title and Escrow Services
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4/10/2024 1:51:18 PM
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8/22/2023 7:48:17 AM
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City Clerk
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Agenda Packet
Agency
Clerk of the Council
Item #
23
Date
3/2/2021
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EXHIBIT C <br />%pividelityNational <br />Fite' <br />NATIONAL COMMERCIAL SERVICES <br />City of Santa Ana — RFP NO.20-12-3 <br />Fee Proposo[ - Rates and Fees <br />Title insurance premiums are based on the type of title insurance coverage including litigation <br />guarantees if requested, policies to be issued and the liability amount(s) for such policies or <br />guarantees. Pricing, for the issuance of a preliminary report or commitment without subsequent <br />issuance of a title policy is explained below. Firm quotes can be provided when the specific <br />scol�e of work has been defined, the requested product has been determined, the amount of <br />covgrage and endorsements (if any) has been established, and the complexity of the project <br />has een reviewed and analyzed by the Company. Consideration is given as to when the <br />prop rty/properties ip question were last insured, the size of the sites in question, and Other <br />matters that may affbct the amount of time required to search and examine the title for the <br />property, etc. Samoles of products that are offered are: Preliminary Reports, Commitments, <br />Standard Coverage Policies of Title Insurance, Extended coverage ALTA PoldcieS of Title <br />Insurance Policies and Litigation Guarantees. <br />The timeline to produce a preliminary report is typically from 7 to 10 business <br />days. Occasionally more time may be required due to the complexity or the need to retrieve <br />documents that are not readily available in our title plant. This frequently occurs when searching <br />right of ways, government -owned properties, and properties that have not been previously <br />insu ed. For this reason it is not possible to provide a quote for title reports without first <br />analyzing the sites and areas in questions. This analysis will typically take a few days at which <br />time�we will be able to provide a firm title quote for the work. The cost for a title insurance policy <br />will e provided based on the liability amount of the policy that will be issued. Title policies are <br />typic liy issued within 48 hours of closing. <br />Our fees for insurance products and escrow services are attached. All other title work will be <br />quot�d on a per project basis. We only charge an hourly rate when plotted easements are <br />requested. The cost;of endorsements are based on the liability amount of each title policy. <br />Fidelity National Titio Insurance is a title insurance company and our fees are filed with the <br />California Department of Insurance. <br />
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