Tailored Solutions to Fit Your Needs
Relocation Title and Escrow Services
When it comes to Stewart Title’s relocation services, you’ll quickly notice that we don’t have a one-size-fits-all approach. We work with you to develop customized solutions for your business. We offer a single point of contact for support on each transaction. We provide a complete service delivery assessment of your needs. Our team will deliver comprehensive relocation title, equity and closing services that enable us to meet the unique needs of you and your clients.
Our Offerings Include:
Title orders are placed within a select national network of Stewart Title affiliates, agents and approved attorneys experienced in relocation transactions.
Stewart’s national network performs extensive underwriting and analysis of the property to verify title can be insured at resale closing.
We obtain property tax information from our local office, including taxing authority contacts and mailing information, payment status (paid or unpaid) and coverage dates, utility information (if lienable), special assessment and personal property tax information.
We review the title search for potential title defects and provide a snapshot of the status of the title. We work directly with the transferee or relocation management company (RMC) to cure any issues prior to equity closing.
Transferee Document Preparation/Coordination
State-specific documents are prepared for the transferring employee to transfer the title of their property to the new buyer. In states that require attorney drafting, we order the documents from the local attorney.
Corporate Document Preparation/Coordination
State-specific documents are prepared for the entity that takes title from the transferee and ultimately passes title to the new buyer in a two-deed transaction.
Document Package Review
We review the executed documents to verify each document has been completed and signed accurately by the transferee, notary and witnesses, when applicable, to ensure recordability.
Our nominee takes title on behalf of the RMC to ensure the highest degree of discretion and anonymity and to streamline the two-deed process for the RMC.
We calculate the transferring employee’s equity by prorating updated property tax, mortgage and homeowners’ association (HOA) information. A Seller’s Equity Statement is prepared and a 1099S is filed, when applicable.
Vacant Home Insurance Administration
We prepare the certificate of insurance notifying the vacant home insurance underwriter that the property is now vacant and coverage should begin. At resale closing, we calculate and collect the premium due.
Disbursements and Recordings
Upon receipt of wired funds from the RMC or their corporate client, we can make the mortgage payoff(s); disburse equity proceeds to the transferee and record documents upon request.
Property Accounting Services
Upon receipt of wired funds from the RMC or their corporate client, we set up a working bank account for disbursements, including equity proceeds to the transferee, mortgage, property tax and HOA payments.
Resale Closing Coordination
We work with the local closing office to secure a final closing statement prior to closing that accurately reflects the terms of the Purchase Agreement. We ensure that the proceeds, all closing documentation and the broker referral fee are received by the RMC shortly after disbursement.
We monitor escrow funds held at closing by the local closing agent.
Final Property Reconciliation
We prepare a Final Property Report detailing all expenses and credits incurred during the relocation transaction that the RMC uses to bill their corporate client.
Destination Title and Closing Services
We assign a Stewart Title affiliate, agent or approved attorney to handle the destination closing for the transferee who works closely with the selling real estate professional to ensure a smooth and successful closing.
We assign a Stewart Title affiliate, agent or approved attorney to handle the closing directly with the transferee. Once a Purchase Agreement has been executed, we work closely with the local closing office to secure the closing statement for the RMC to review for reimbursable closing costs.
We can provide title and closing services on-site at the customer location by forming a team of experienced Stewart Title Relocation Services associates coordinating and conforming to the accounting processes and corporate culture.
Training and Education
We provide timely and customizable training to consultants, management and other audiences on industry developments and best practices. Stay up to date with our legislative alerts and quarterly newsletters.
Operationally, we utilize empirical metrics and scorecard measurements as a means to independently measure the quality, compliance and operational effectiveness of each service offering.
We can tailor these reports to meet the needs of your changing business priorities and reporting requirements.
Customer Open Order Report Lists open orders with the order date and customer file number
Title Order Detail Report Reflects the current status of each open file for the calendar year, e.g., open, closed or cancelled
Agent Turn Time Report Calculates the turn time between the local agent’s receipt of the title order through the date the title search, tax information and vesting deed were delivered to us
Customer Turn Time Report Calculates the turn time between the date we receive the order through the date that title results are delivered to our customer
Process Point Report Shows the current status of each file
Title Curative Report Shows the current status of title issues and curative actions that have been taken to date
Equity Turn Time Report
Calculates the turn time between the date equity is requested through the date the equity statement is delivered to our customer
Closing Metrics Report Calculates the turn time for three categories: turn time between the legal close date and the date we delivered the closing notification to our customer; turn time between the legal close date and the date we delivered the reconciliation package to our customer; and turn time between the legal close date and the date the local closing office sent the proceeds and referral fee to our customer
Score Card Tracks and provides on a semi-annual basis our monthly performance on title, equity, closing notification, closing reconciliation package and proceeds/referral fee turn times