Item 12 - Agreements for On-Call Real Estate Title and Escrow Services

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EXRWIETI-4 PROPOSED WORK PLAN AND UNDERSTANDING OF NEED Understanding of Scope We understand that the City of Santa Ana requires a reliable partner to provide comprehensive title and escrow services for property transactions involving public projects. These services must ensure accuracy, compliance with municipal and state regulations, and timely execution to avoid delays in project schedules. Our role is to act as a neutral facilitator, safeguarding funds, verifying title integrity, and delivering clear documentation throughout the transaction process. Anticipated Approach Our approach is structured to provide efficiency, transparency, and compliance at every stage: 1. Opening Escrow o Establish escrow upon receipt of purchase agreement and confirm receipt of initial funds. o Review purchase agreement and transaction terms. 2. Title Examination o Order and review title searches to identify liens, encumbrances, or ownership issues. o Assist in resolving title defects promptly to ensure clear conveyance. 3. Document Coordination o Collect and verify all required documents, including deeds, loan instructions, and municipal compliance forms. o Maintain accurate records and provide updates to the City. 4. Funding and Disbursement o Secure seller, buyer and lender funds. o Disburse proceeds according to instructions and payoff any obligations (taxes, liens, fees). 5. Closing and Recording o Facilitate signing and notarization of documents. o Record title documents with the appropriate county office. o Deliver final closing statements and documentation. Special Considerations • Regulatory Compliance: We prioritize adherence to all municipal and state requirements to avoid legal or financial exposure. • Risk Mitigation: Proactive resolution of title issues ensures transactions close on time. • Clear Communication: We provide timely updates and detailed reporting to maintain transparency throughout the process. Deliverables and Implementation Plan • Title report and clearance documentation. • Escrow instructions and closing statements. • Recorded deeds/documents and final statements/closing package. Implementation Plan and Timeline: • Day 1-5: Open escrow, review agreement, initiate title search (title report may vary based on complexity of search) • Day 6-20: Resolve title issues, collect documents, prepare closing package. • Day 21-30: Secure funds, finalize disbursements, complete closing and recording. (Timeline may vary based on transaction complexity.) 18