Title Searches and Closing Services Questions.docx

Title Searches and Closing Services Questions

1. What is the estimated magnitude (dollar amount) of this project?

We will not be disclosing the ceiling pricing for this project.

2. Is there an estimated number of title searches and closing involved with project?

We estimate 8 searches per year and 4 closings per year.

3. Is this considered a brand new contract or is there an incumbent; if so can you provide the contract number?

This is a brand new contract, there is no incumbent.

4. How many title requests/closings do you anticipate every month?

Title searches: we will request all 8 between January-March.

Closings: we estimate 4 during June-August.

5. What will be your method of communicating title requests and closings?

Direct contact with the vendor to prepare for closing and with questions on searches or updates needed. All title searches and closings will be communicated through BPA (Blanket Purchase Agreement) Calls.

6. Will you (or any applicable party) provide a quality review checklist for title and closing services? In other words, what information to double check for accuracy so as to avoid having to submit corrected documentation later.

There is a SOW for title searches and we will provide closing instructions prior to the closing along with NHQ closing letters and we ask that the title company sign the closing letters.

7. How are invoices paid? Net30, per file, at closing, weekly, monthly, scheduled?

Invoices are entered into IPP and paid once the deliverables are received.

8. Is sub contractor liability insurance sufficient to fulfill the requirements of the solicitation since they are the ones that will be performing the title searches and generating the closing protection letters, or should the prime contractor carry liability insurance as well?

The government does not do business with sub-contractors. We are looking to see if the prime is in compliance with the solicitation.

9. How long does it take for these types of transactions to close?

2-3 years is typical

10. Does the subcontractor need their own SAM.gov registration and DUNS number, or will the prime contractor's information be sufficient to fulfill the requirements of the solicitation?

The government does not do business with sub-contractors. We only require the information of the prime contractor.

11. Will the Past Performance report of the subcontractor (title and closing agent) work to fulfill the requirements of this solicitation? Does the prime need a past performance report as well?

According to the RFQ, we require your company to “provide evidence of one (1) either contract, subcontract, agreement, and other relevant work of services similar in scope and complexity that documents their past performance”

12. Will you forward to me any additional attachments that apply to this solicitation?

There are no additional attachments.

13. What is the government's budget for this solicitation?

We will not be disclosing the budget for this solicitation.

14. How long will this contract be effective?

As provided in the RFQ, this is a five (5) year Blanket Purchase Agreement

15. Is Insurance included in all transactions or is it on case by case basis?

A Final Title Insurance Policy is issued upon closing of the easement parcel. So, all closed easements will get insurance.