From land acquisition to the completion and sale of your project, the Old Republic Title Builder Services team can provide the expertise you need for the planning, development and public record process. Our experienced team is a valuable resource to builders and developers working on a variety of projects. Builder Services can help:
- Prepare the Preliminary Report or Title Commitment disclosing such matters as easements, mineral and oil reservations, taxes, bonds, assessments, existing restrictions and other recorded matters affecting title to the subject property.
- Aid in obtaining necessary lender consents and signatures on the map.
You can minimize project delays by contacting us early in the building process. We endeavor to provide a positive effect on the builder’s project completion timeline by:
- Expediting the title search and examination so problems can be dealt with quickly.
- Advising on mechanic’s lien coverage and title insurance needs of other parties in the transaction.
- Setting up sale escrow accounts and handling disbursements upon closing.
- Coordinating with engineers so issues can be dealt with early in the project.
- Arranging for prompt handling of any title objections that may arise.
Title insurance can also make construction loan financing more attractive to lenders by assuring priority of the first lien mortgage. We can also help you to establish ownership rights to show local government a project can proceed, which may expedite plat approval.
Old Republic Title is also able to work with you to insure title to individual lots in development, so new owner’s policies can be promptly issued to home buyers. When Old Republic Title has previously insured title to the individual lots, the title simply needs to be updated, rather than extensively back-searched upon issuance of each policy.
Beyond offering basic lender’s and owner’s title insurance policies, we may be able to provide specialized coverages for different parties, including mechanic’s lien protection or coverage regarding surveys or zoning. These additional coverages for new construction vary from state-to-state. Please contact your local Old Republic Title office for more information.
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