Chicago Title Insurance Company in North Carolina commonly provides escrow services for matters relating to real estate transactions. These services involve holding and disbursing of funds and/or documents for commercial closings, holding earnest money prior to closing, and holding funds in order to insure over a title defect. What follows is an outline of our escrow services, requirements, and fees. Please note that Chicago Title does not serve as a closing agent or provide settlement services in North Carolina.

Commercial Closings |  Earnest Money Deposits |  Title Matters

1. Commercial Closings
   
   
   • Services – Holding and disbursing funds; receiving and forwarding documents for recordation; and providing a statement reflecting funds received and disbursed;
     
     
   • Requirements – Must be provided with written escrow instructions, a W-9 Tax Identification form, and indemnification language, such as our Conditions of Escrow (copy attached), must be incorporated into the escrow instructions or into an escrow agreement;
     
     
   • Fees – The fee can be affected by the amount being held and the number of receipts and disbursements. As a result, the fee for this service is negotiated on a case-by-case basis.
     
     
   • Click here to complete and submit our Commercial Closing Escrow Information Sheet.
   
   
   
2. Earnest Money Deposits
   
   
   • Services – Holding funds as earnest money deposits pursuant to an Agreement to Buy/Sell Real Property; if in excess of $5,000, the funds may be placed in an interest bearing account;
     
     
   • Requirements – Must be provided with a copy of the Agreement to Buy/Sell Real Property, which clearly sets forth the terms under which the funds are to be held and disbursed and incorporates indemnification language, such as our conditions of escrow; must be provided a W-9 Tax Identification form;
     
     
   • Fees - $200
     
     
   • Click here to complete and submit our Earnest Money Deposit Escrow Information Sheet.
   
   
   
3. Title Matters
   
   
   • Services – Holding funds in order to insure over a title defect; if in excess of $5,000, the funds may be placed in an interest bearing account;
     
     
   • Requirements – Must obtain approval of Underwriting Counsel; must enter into an Escrow Agreement with the party depositing the funds which clearly sets forth the terms under which the funds are to be held and disbursed and incorporates indemnification language, such as our conditions of escrow; must be provided a W-9 Tax Identification form;
     
     
   • Fees – The fee can be affected by the amount being held and the number of receipts and disbursements. As a result, the fee for this service is negotiated on a case-by-case basis.
     
     
   • Click here to complete and submit our Title Escrow Information Sheet.

NOTE – All Escrow Services must comply with The USA Patriot Act. Any information required by said Act must be furnished to Chicago Title Insurance Company.