City of Toledo PlanetBids #1-8602-RE

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

This opportunity invites Ohio-licensed title companies to provide escrow and title services for the City of Toledo's HOME at Last Program, which supports first-time homebuyers. - Government Buyer: - City of Toledo Department of Housing & Community Development - Services Requested: - Title insurance, escrow agent services, and closing services for program transactions - Services must support homebuyers with incomes at or below 80% of Area Median Income - Notable Requirements: - Vendors must be licensed by the State of Ohio for title insurance - Proof of rating from an independent agency, business entity license, and insurance certificate naming the City as additional insured are required - Bid guaranty and compliance with all program documentation - Closings must occur simultaneously with first mortgage closings from participating lenders - No specific OEMs are mentioned, as this is a services procurement - NIGP code: 47438 (Right Of Way Services including Title, Appraisal, Negotiation, Closing, Relocation, Condemnation, etc.) - Contract duration is one year - Bids must be submitted electronically via the PlanetBids portal

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 title insurance, closing, and related services, with closings occurring simultaneously with first mortgage closings from participating lenders. Bids must be submitted electronically via the City's PlanetBids portal, and various documents including bid guaranty and proof of licensing are required.

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