Real_Estate_Title_Services_Scope_of_Services_sep_edits.docx
DOCX document 16 KB Posted
- Attached to
- CDBG-DR Real Estate Title Services
- Solicitation number
- 25-SQ-142KW
- Issued by
- Volusia County, Florida
About this file
This is a Scope of Services document for the County of Volusia Office of Recovery and Resiliency's solicitation for real estate title services for projects funded by the U.S. Department of Housing and Urban Development through Community Development Block Grant - Disaster Recovery (CDBG-DR) programs. The contractor will provide comprehensive title services including preparation of Property Information Reports (formerly Ownership and Encumbrance Reports) within ten business days of order receipt, preparation and issuance of title insurance commitments and policies within ten business days, research of parcel history and preparation of title abstracts, obtaining partial mortgage releases and mortgagee consents, preparation of Closing Settlement Statements (HUD-1), coordination and conducting of closings within twenty business days of purchase agreement receipt, and delivery of final title insurance policies and recorded instruments within fifteen days after settlement.
The scope requires the contractor to maintain dedicated escrow services and establish systematic processes for handling orders, with Property Information requests processed through document preparation and delivery to the County Project Manager, while title insurance and escrow orders are assigned to specialized escrow departments for transaction processing through completion and policy issuance. The contractor must provide all related documentation with reports, commitments, and policies, and coordinate directly with homeowners and related parties for closing scheduling, ensuring comprehensive title research and closing services that facilitate the County's disaster recovery real estate acquisition and development programs.
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Text version
Real Estate Title Services Scope of Services
1.0 The Contractor shall provide Services and Project deliverables under the resulting Contract and act as Contractor and advisor to the County in accordance to this Scope of Services as specifically set forth in the resulting Contract and its exhibits, and as set forth below:
A. Prepare Property Information (PI) Reports, formerly known as Ownership and Encumbrance Reports (O & E reports) within ten (10) business days following receipt of order;
B. Prepare and issue title insurance commitments, with updates as necessary, within ten (10) business days following receipt of order or a fully executed sale and purchase contract.
C. Prepare and issue title insurance policies;
D. Include copies of all related documents with PI/O & E Reports, title insurance commitments and policies;
E. Research parcel history and/or prepare an abstract of title including a chain of title and all related instruments as directed, including for the purpose of lot combination of single parcels and variance requests;
F. Update title search and title abstract as requested;
G. Obtain a partial release of mortgage(s) for each partial acquisition. Obtain a Joinder and Consent of mortgagee for each easement acquired;
H. Research and obtain all ownership and parcel information to facilitate a closing;
I. Prepare Closing Settlement Statement (HUD-1)
J. Contact the homeowner and other related parties to schedule a closing. The closing shall occur within twenty (20) business days from receipt of the purchase agreement and check.
K. Provide all necessary documents for closing and conduct closing.
L. Provide the final title insurance policy and recorded instruments to the County within fifteen (15) days after settlement and closing.
2.0 Contractor Methods:
A. Once an order is placed with Contractor, the title search shall be secured. If said order is a Property Information / Ownership and Encumbrance Certificate request, same shall be prepared and forwarded together with required documents to the County Project Manager.
B. Once an order is placed requiring title insurance and escrow services, the file shall be assigned to the Contractor's escrow department which shall begin the process of closing the transaction. A title search shall be secured if required and once concluded, a title commitment together with required documents affecting the title shall be forwarded to the County Project Manager. The process shall continue until the transaction is consummated and title policy is issued.
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