Chicago Title NCS Chicago: SYFCREC 2021

Surviving Your First Commercial Real Estate Closing I National Transactions Title Operations Direct vs. Agents 3 Although we have a strong national presence, we do not have a direct Chicago Title office available to service every jurisdiction, in which case we have to engage an attorney agent. And some states like AL, LA, NC and SC are specifically attorney- agent states where we are obligated to engage an attorney to work with us behind the scenes. Surviving Your First Commercial Real Estate Closing I National Transactions Filed, Promulgated, and Unregulated States 4 o Forms o Endorsements o Commitments, Reports, and Policies One of the great challenges of national transaction work is the absence of uniformity in key aspects like recording and local underwriting requirements. Pricing rules and endorsement availability are no different. Local insurance regulations can dictate how premium is calculated, what endorsements are generally available, and even whether available endorsements can be modified to better fit a specific scenario. Your national underwriter and national sales representative can confirm what coverage is available and, maybe just as importantly to your client, what the title company is required to charge for it. 3 4 195