Products & Services

ALTA Policies and Products

Title Commitment
This document provides a “snapshot” in time of the current status of the public records pertaining to the property in question.  It contains the “exceptions” to title that will remain on the policy unless they are “cleared” by proper documentation prior to the closing.  The latest version of the American Land Title Association (ALTA) Title Commitment was adopted on 6-17-2006.  This is the Title Insurance Industry’s Standard Commitment.

Owners Policy / Loan Policy
This is the title insurance policy that provides the protection to either the new Owner or the new Lender as indicated in the ALTA Commitment.  The policy takes effect only upon payment in full of the premium charges.  The latest version of the American Land Title Association (ALTA) Policies were adopted on 6-17-2006.  They are the Title Insurance Industry’s Standard Policy.

2ND Mortgage Policy
In some situations, a lender may request title insurance to protect the lender’s lien position (or priority) when a second mortgage loan has been taken against the property.

 

Additional Title Search Products

Ownership Search
This search provides you with the name of the last Owner of Record for a particular parcel of property.

Tract Search
This search provides not only the name of the last Owner of Record for a particular parcel of property, it also provides information on any liens against the property and the status of real estate tax payments.

Contract Sale
In some case, a Contract Purchaser will want to protect their interest in the property in question during the pendency of a contract to purchase real estate, also known as Articles of Agreement for Deed.  A title insurance policy can be issued in cases where a Memorandum of Recording of Articles of Agreement for Deed.

 

Additional Services

Construction Escrow
We will provide construction escrow services to review lien waiver documentation from contractors, subcontractors and materialmen who are seeking payment for services rendered in new construction or rehab projects.  A careful review of the documents is essential in providing the owner and construction lender with protection against possible Mechanics Liens.  Once the waivers have been approved, the approval for the “draw” can be approved and checks can be cut and delivered to the proper parties.

24 Month Chain of Title
Many of our files require a special review of the public record to identify recent deeds that appear in the chain of title.

Survey
Most residential and commercial transactions require the preparation and delivery of a professional survey before the closing can be completed.  We can recommend the services and products of a variety of reliable licensed surveyors for hire.

City of Chicago Water (Full Payment) Certificate and Zoning Certificate
The majority of real estate transactions involving property within the City of Chicago will require a Water and Zoning Certificate.  The process of obtaining these certificates and paying the water bill can be time consuming and, at times, frustrating.  Our staff is available to help you obtain these documents.  A service charge will be incurred for this service.

Payment of Real Estate Tax Bills
At certain times of the year, many lenders will require that the real estate tax bill for the subject property must be paid and proof of payment be presented at closing.  Our staff is available to assist in taking care of this for you.  A service charge will be incurred for this service.