Chicago Title NCS Chicago: SYFCREC 2021

Surviving Your First Commercial Real Estate Closing I National Transactions Title Order Placement & Transaction Coordination Transactional Structure o Seller o Buyer / Borrower o Lender o Legal Counsel o Title Commitment Delivery Parties Parties to the Transaction Property Details 1. Transaction reference name 2. Site Chart – Are there identifying references (store number, store name, etc.) to be included in our master chart? 3. Property Address 4. Prior Title Policy / Title Commitment Evidence a. Benefits for both premium and search cost and commitment delivery timing 5. Recorded Documents Evidence (Deeds, Mortgages, etc.) 6. Owners of Record – in lieu of prior title evidence or recorded documents 7. Prior Survey Evidence o Sale o Loan o Construction Loan o Stock Purchase o Merger Target Closing Date Closing Structure Formal Closing Escrow vs. Payment Only Escrow 15 Surviving Your First Commercial Real Estate Closing I National Transactions Title Insurance Rate Structures o Filed Rates o Promulgated Rates o Unfiled Rates Pricing Information o Site Location Information (addresses) o Prior Title Information (Policy Type / Amounts / Effective Date) o Title Insurance Liabilities for New Owners and Loan Policies o Transfer Tax and Mortgage Tax Liabilities (if the amounts differ from the policy liabilities) KEY INFORMATION TO PROVIDE WHEN PRICING TRANSACTIONS 16 15 16 201