When you are ready for construction loan financing, the issues previously referred to will form the basis of a preliminary report for the benefit of both the builder/developer and the lender.

 
Your Title Officer will:
  • Provide the above referenced preliminary title report
  • Provide plotting of recorded easement locations as may be required by your lender
  • Provide recorded document copies (referenced in the title report) as may be required by your lender
  • Resolve any title insurance issues or needs
  • Review, record and insure the constructions loan documents
  • Issue endorsements as required by the construction lender
Note:
If you intend to start work on the subject property prior to the recording of your construction loan, consult your Builder Services Representative before work begins on the development site.  The construction lender requires that its title insurance policy insures against loss due to any mechanic's lien claims.  In order to provide this insurance to your lender, you will need to provide an indemnity, acceptable to Chicago Title.  We recommend that you notify us immediately of any commencement of work on the project prior to recordation of the construction loan.  This will allow us to prepare and process your indemnity for approval without delay.