Title and Closing Services Clause Samples
The "Title and Closing Services" clause defines the responsibilities and procedures related to verifying property ownership and facilitating the transfer of real estate during a transaction. It typically outlines which party is responsible for obtaining title insurance, conducting title searches, and coordinating the closing process, including the preparation and exchange of necessary documents and funds. By clearly assigning these duties, the clause ensures that the property is transferred with clear title and that all legal and financial requirements are met, thereby reducing the risk of disputes or delays at closing.
POPULAR SAMPLE Copied 1 times
Title and Closing Services. Purchaser will obtain title and escrow closing services from (check one):
Title and Closing Services. 1.3.1 Secure preliminary title reports for each parcel from a City approved Title Company and secure title report updates when requested by City. Request title insurance from the Title Company if requested by City for parcels closing by Easement and Commissioner Awards.
1.3.1.1 The charges from the Title Company for the preliminary title reports, title insurance and closing costs will be paid by HDR and HDR reimbursed by City.
1.3.2 Analyze preliminary title report to determine potential title problems, propose and inform City Staff of methods to cure title deficiencies.
1.3.3 The curative services necessary to provide clear title to City is the responsibility of HDR.
1.3.4 HDR will contact the Title Company to obtain an updated title commitment along with other forms required to close parcels with clear title.
1.3.5 HDR will provide closing services in conjunction with the Title Company and will be required to attend closings.
1.3.6 Any fee related to obtaining certified court documents and fees for recording same which are not collected at the closing of the parcel shall be paid by HDR and HDR reimbursed by City.
1.3.7 HDR shall cause the recordation of all original instruments immediately after closing at the respective County Clerk’s Office. The cost of the recording fees and filing fees are paid by HDR and HDR will be reimbursed by City.
Title and Closing Services. Consultant shall ensure that all closings are accomplished in a timely manner through continued coordination with the title company handling the escrows. Consultant shall work closely with the chosen title companies to make sure that good title is obtained. These services include: • Reviewing updated title. • Open escrow, deposit funds and documents, prepare escrow instructions, and monitor closing of escrows. • Assist Title Company in obtaining releases of liens, mortgages, and encumbrances of record. • Prepare warrant requests to County with proper supporting documentation including recommended resolution of title issues. • Verify and coordinate the clearing or prorating of taxes and assessments. • Coordinate closings and attend to all meetings. • Review the final title policy to make sure it reflects only those title exceptions that County had agreed to accept. • Submit a completed property acquisition report for each property, including transfer of all pertinent correspondence and files to County.
Title and Closing Services. Secure preliminary title commitment or preliminary title search, and 5-year sales data from Title Company that will be providing title insurance. The charges from the Title Company for the preliminary title commitments will be paid for by the City. • Secure title commitment updates in accordance with insurance rules and requirements for parcel payment submissions. • Secure title insurance for all parcels acquired, insuring acceptable title to the City. Written approval by the City required for any exception. • The curative services necessary to provide clear title to the City is the responsibility of the Provider (▇▇▇▇▇▇ ▇▇▇▇ and ▇▇▇▇▇▇▇). • Cost of curative services must be included in the negotiated fee schedule for this service. • Curative services do not include costs/expenses that qualify as payment of incidental expenses to transfer real property to the City. • The Provider has the responsibility of direct contact with the Title Company to obtain an updated title commitment along with other forms and certified copy of the instrument of conveyance necessary when requesting the Parcel Payment from City Staff. • The Provider provides closing services in conjunction with the Title Company and will be required to attend closings. • Any fee related to obtaining certified court documents and fees for recording same which are not collected at the closing of the parcel shall be direct pass through fees at the exact cost supported by the county court house receipts. • Provider shall cause the recordation all original instruments immediately after closing at the respective County Clerk’s Office. The cost of the recording fees and filing fees are paid by City and must not be included in the Provider’s negotiated fee schedule.
Title and Closing Services. 1. Secure preliminary title commitment or preliminary title search and 5-year sales data from the title company that will be providing title insurance.
a. The charges from the Title Company for the preliminary title commitments will be paid by the City and are not included in the Consultant’s negotiated fee schedule.
2. Secure title commitments updates in accord with insurance rules and requirements for parcel payment submissions. The charges from the Title Company for the update of the title commitment will be paid by City and should not be included in the Consultant’s negotiated fee schedule.
3. Secure title insurance for all parcels acquired, insuring acceptable title to City. Written approval by City required for any exception. The charges from the Title Company for the update of the title insurance will be paid by City and should not be included in the Consultant’s negotiated fee schedule.
4. Analyze preliminary title report to determine potential title problems, propose methods to cure title deficiencies.
5. The curative services necessary to provide clear title to the City is the responsibility of the Consultant and is to be included in the negotiated fee schedule for this service. Note: the Consultant’s curative services do not include cost/expenses that qualify as payment of incidental expenses to transfer real property to the City.
6. The Consultant has the responsibility of direct contact with the Title Company to obtain an updated title commitment along with other forms and certified copy of the instrument of conveyance when requesting the Parcel Payment from the City.
7. The Consultant provides closing services in conjunction with the Title Company and at the discretion of the City may be required to attend closings.
8. Any fee related to obtaining certified court documents and fees for recording same which are not collected at the closing of the parcel shall be direct pass through fees.
9. Consultant shall cause the recordation of all original instruments immediately after closing at the respective County Clerk’s Office. The cost of recording fees and filing fees are paid by the City and should not be included in the Consultant’s negotiated fee schedule.