Local & National
Chicago NCS has the largest and most experienced closing and escrow staff in the area. We offer both local and national closing and escrow services to handle any type of transaction, anywhere. Our dedicated team of 18 staff members, many with over 20 years of experience, is ready to handle the most important part of each real estate transaction - the closing.
Our closing services are provided at a local and national level, for all property and transaction types. Each closing includes our turnkey solution approach to ensure all documents, deeds and funds are properly deposited by all parties, including the buyers, sellers and lenders. We are diligent to follow all instructions accurately, and ensure all parties do the same.
The closing process for our customers includes:
- Securing all required signatures and approvals on documents and instructions
- Working closely with title officers to clear liens, approve documents to be recorded, and provide requested endorsements to owner and lender policies
- Preparing and obtaining approval of a settlement statement showing all disbursements and receipts of buyer and lender funds
- Complying with all written instructions from buyer, seller and lender
- Distributing funds in accordance with the settlement statement
- Recording the conveyance and mortgage documents in the applicable county
Our underwriting team has worked with every type of complex commercial real estate transaction: acquisitions, dispositions, loan modifications, bankruptcies, workouts, foreclosures and exchanges. Our extensive network of state offices enhances our proficiency in national title clearance, removal of liens and title insurance policy issuance in all 50 states.
Let our group of experts guide you through the title clearance process!
Some of the Ways We Are Here to Help:
- Mortgage payoffs and releases
- Judgments and other orders of the court
- Pending litigation
- Mechanics lien clearance and waivers
- Non-imputation endorsements
- Zoning problems
- Foreclosure and bankruptcy
- Assessment letters
- Utility facility statement
- Special coverage, as needed
Earnest Money Escrows and Joint Orders
The initial deposit of funds made by the buyer, earnest money, is made as a good faith gesture to the seller when a purchase contract is signed. This justifies the seller taking the property off the market until closing. It is important that an unbiased third party be selected to hold the earnest money until completion or termination of the transaction.
Attorneys and real estate principals have long considered Chicago NCS the perfect place to deposit client funds. We will open a “Joint Order” as the Escrow Trustee and hold those funds in an Earnest Money Escrow account for which investment is offered as an option. As the Escrow Trustee, we hold the funds until written release and disbursement instructions are received from the buyer and seller.
With us, you can rest easy knowing that:
- Your transaction will be expertly handled by an experienced staff, highly recommended in the industry
- Your funds will be safeguarded and available when needed
- Any issues will be handled quickly
- Agreed upon escrow instructions will be followed to the letter
We take pride in making sure our customers’ commercial real estate transactions are managed efficiently, accurately and with a personal touch. Put our Closing & Escrow team’s institutional knowledge to work for you!