The following is a summary of the core services provided by
Old Republic Relocation Services nationwide and in Guam:
Utilizing our national network of Old Republic Title offices and agents, a search of public records is completed and a commitment prepared. The processed title work sent to our Customer will include municipal searches, property taxes (periods covered and when/where to make payments) and disclosure items that might affect the sale of the property. We will provide prompt, cost effective and quality solutions for handling curative issues to avoid any delays in equity disbursement or resale closing.
All documents needed to transfer the property from the employee are prepared, utilizing our network of attorneys wherever it is necessary. An explanation of the documents is included when the document package is sent to the employee or to the Customer.
Whether an estimated equity or a final equity, all lien information (mortgage, HOA dues, taxes, utilities, etc.) is updated and an equity statement prepared. A 1099-S is prepared and filed if necessary; documentation is retained per IRS guidelines.
Loan Payoffs & Deed Recordation
If a Customer wishes to payoff a loan, ORT will advise of the amount of the payoff and wire payoff funds to the lender. If a home is taken into inventory, all fees necessary to record the deed will be requested and sent with the deed to the local county recorder. The file will be monitored until the recorded release and/or deed have been confirmed.
Coordination of Resale Closing
Work closely with the local office/attorney to obtain seller figures and ensure that they comply with the contract and the Customer’s specific guidelines. If this is anticipated to be a deficit file, an estimate will be provided in advance of closing, enabling you to arrange for deficit funds to be available by the closing date. Closing figures and documentation are sent to the Customer for approval, and the file is disbursed according to Customer guidelines.
For dual deed transactions, a Nominee can be utilized so the Customer does not have the exposure of entering the public chain of title.
Employee Loan Oversight
Provide a limited title search prior to your loan advance, coordinate the preparation of documents to be recorded securing your loan and coordinate preparation and recording of the lien release once the loan is paid in full.
Relocation Services will customize a variety of additional services including, but not limited to, account reconciliation, direct reimbursement, individualized Customer reports, destination title and closing services, as well as ongoing industry training and education. Please contact us for more information.