S01 12FPC24Q0076 Questions and Answers.pdf
PDF 166 KB Posted
- Attached to
- Title and Closing Services for NRCS Vermont Federal contract opportunity
- Solicitation number
- 12FPC424Q0076
About this file
This document is a set of Questions and Answers related to Solicitation #12FPC424Q0076 for Title and Closing Services for the USDA Natural Resource Conservation Service (NRCS) in Vermont.
The solicitation is seeking contractors to perform title and closing services for NRCS easement programs in Vermont. It will result in a 5-year Firm Fixed Price Blanket Purchase Agreement (BPA). The government estimates annual volume of 5-10 preliminary title work projects, 4-5 title update projects, and 3-4 closing services projects. Multiple awards are anticipated to provide greater contractor capacity and flexibility. Key requirements include a 30-day timeline for completing closings and NRCS handling the disbursement of sales proceeds. The acquisition is a 100% small business set-aside under NAICS code 541110 with a $19.5M size standard. Quotes are due by June 7, 2024 and the estimated award date is on or around July 1, 2024.
View the file
Other files for this federal contract opportunity
Show all 13
On GovTribe
Work with this file on GovTribe
- Download the original file
- Contacts named in this file
- Similar government files
- Ask GovTribe AI about this file
Text version
12FPC424Q0076
Questions and Answers
SOLICITATION # 12FPC424Q0076
TITLE AND CLOSING SERVICES
STATE OF VERMONT
QUESTIONS AND ANSWERS
Q1. Is yearly volume expected to be higher than past years?
A1. The Government is seeing an increase in the types of US-held easements that will be enrolled, although we still conduct 2-3 acquisitions per year this is likely to increase over the next 5 years.
NRCS Vermont procures preliminary title work on a greater number of easements than those that are enrolled/closed. Under the BPA set up, we may just request a title search and pay on that at the time of delivery, rather than waiting for the full cycle of preliminary search to easement acquisition.
Q2. What is the anticipated yearly volume under the Blanket Purchase Agreement?
A2. The Government estimates the following volume:
Preliminary work 5-10 projects per year Title updates 4-5 projects per year Closing services 3-4 projects per year
Q3. Why would the government choose multiple awards when the volume has historically been low?
A3. The primary purpose of having multiple awards is to allow the Government the ability to procure title work on multiple/different projects simultaneously without overloading one BPA holder.
Multiple vendors provide more contractor capacity and allow continued services when surges in workload occur.
Q4. A section of the Statement of Work states that the closing must occur within 15 business days of receipt of the closing instructions, a different section states it must occur within 30 day of receipt of the closing instructions. Which one is correct?
A4. The Closing must occur within 30 business days.
Q5. The Statement of Work makes no mention of how the sales proceeds are handled, disbursed, etc. yet we are required to submit a price for a Closing Protection Letter.
a. Who disburses the sales proceeds?
A5.a. NRCS disburses the proceeds to the closing attorney’s escrow account.
b. Typically, the requirement is for the closing to occur within 30 days of receipt of the sales proceeds. Why is this different?
A5.b. After funds are disbursed to escrow, closing must occur within 30 business days or funds must be returned.
12FPC424Q0076
Questions and Answers
Q6. The Statement of Work addresses a requirement for the contractor to obtain the execution and recording of the survey. Typically, this is done by the surveyor.
a. Please clarify/confirm this requirement.
A6.a. The survey executed by the surveyor is provided to NRCS. NRCS provides the survey to the closing agent along with the other closing documents.
Our surveys are usually recorded at the time of closing with the easement. The closing agent is reimbursed for the recording fees.
b. What is the timeframe for performing this task?
A6.b. Along with the other closing requirements.
c. When does it occur?
A6.c. Usually at the time the easement documents are sent for recording.
d. Shouldn’t there be a separate line item on the price schedule for this task.
A6.d. The BPA allows for fluctuation in the rate of recording. We reimburse based on the recording rates for pages/mylar in Vermont.
File details come from the government source that posted it. Updated .