City of Toledo PlanetBids #10008602

Toledo Seeks Ohio-Licensed Title Companies for HOME at Last Program Escrow and Title Services

The City of Toledo Department of Housing & Community Development is seeking proposals from Ohio-licensed title companies to provide escrow and title services for the HOME at Last Program, which supports first-time homebuyers with incomes below 80% of the Area Median Income. - Government Buyer: - City of Toledo Department of Housing & Community Development - OEMs and Vendors: - Title companies licensed by the State of Ohio (no specific company names provided) - Products and Services Requested: - Title exam, lender's title insurance, escrow disbursement, title commitment, settlement, wire/overnight, and recording fees - Escrow agent services: holding program funds, scheduling and closing transactions (including first mortgages), providing ALTA Settlement Statements and Closing Disclosures, recording restrictive covenants and grant deeds at the Lucas County Recorder's Office, distributing closing documents, and monthly escrow disbursement reporting - Unique or Notable Requirements: - Proof of Ohio title insurance license and independent agency rating - Compliance with local living wage and insurance requirements - Bid guaranty required - No guarantee of transaction volume; services are as-needed - Closings and document recording must occur in Lucas County - Bids submitted electronically via PlanetBids; pre-bid meeting strongly encouraged - Contract value may involve managing up to $629,465 in escrow funds - Period of Performance: - Initial contract term is 12 months with possible extension - Place of Performance: - City of Toledo and Lucas County Recorder's Office

Description

The City of Toledo's Department of Housing & Community Development is soliciting proposals from Ohio-licensed title companies to serve as escrow agents for the HOME at Last Program. This program assists first-time homebuyers with incomes not exceeding 80% of the Area Median Income by providing home ownership and closing cost assistance. The selected title company will provide escrow services, title insurance, closing, and related services for program transactions, ensuring compliance with program requirements such as recording restrictive covenants and grant deeds. The contract term is 12 months with possible extension, and bids must be submitted electronically via the City's PlanetBids portal by April 21, 2026.

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