City of Toledo PlanetBids #10008680

Toledo Seeks Licensed Title Company for HOME at Last Program Escrow and Title Services

The City of Toledo Department of Housing & Community Development is seeking proposals from licensed Ohio title companies to provide escrow, title insurance, closing, and related services for the HOME at Last Program, which assists first-time homebuyers with down payment and closing cost grants. - Government Buyer: - City of Toledo Department of Housing & Community Development - OEMs and Vendors: - No specific OEMs or product manufacturers are named; solicitation is for licensed title companies - Products/Services Requested: - Escrow and title services for the HOME at Last Program - Hold program funds in escrow - Schedule and close real estate transactions (including first mortgages) - Provide ALTA Settlement Statements and Closing Disclosures - Record restrictive covenants, grant deeds, and first mortgages with the Lucas County Recorder - Disburse earnest money and program funds - Supply monthly reports on escrow disbursements - Manage all required title insurance and settlement documentation - Product line items include: - Title exam fee, lender's title insurance fee, escrow disbursement fee, title commitment fee, title settlement fee, wire/overnight fee, recording fees (restrictive covenant, mortgage, deed), and other applicable fees (e.g., e-recording) - Unique or Notable Requirements: - Title company must be licensed in Ohio and provide proof of rating from an independent agency - Bid guaranty required - Compliance with local MBE/WBE and living wage preferences - Services are provided on an as-needed basis; no guaranteed volume - Escrow funds to be replenished by the City as needed (initially $629,465) - Contract term is one year with possible extension

Description

The City of Toledo's Department of Housing & Community Development is soliciting proposals from Ohio-licensed title companies to provide escrow, title insurance, closing, and related services for the HOME at Last Program. This program assists first-time homebuyers with incomes not exceeding 80% of the Area Median Income by providing down payment and closing cost assistance as recoverable grants. The selected firm(s) will manage escrow accounts, schedule and close transactions, record restrictive covenants and deeds with Lucas County, and provide monthly reports. The contract term is one year with a possibility of extension, and a pre-bid meeting is scheduled for May 7, 2026.

View original listing