March 24, 2020 LTCadmin

COVID Update

Latest Closing Process for COVID Safety

Lincoln Title Company is monitoring the COVID-19 pandemic and how it will affect our industry. As things evolve, we are actively assessing risks and working with our teams to implement any necessary changes to ensure the highest level of safety for our employees, clients, buyers, sellers, realtors, and lenders.

We will update our communication channels or send notifications as necessary. Please find our latest information below regarding the closing process and safety precautions.

As always, if you have any questions, concerns, or special requests, please feel free to contact Us.

Cash Transactions

  • Cash transactions can be conducted via email.
  • Please forward all pre-signed closing documents to your closing location via FedEx or email.
  • Any additional closing documents may be signed via email as well.
  • At closing, the Settlement Statement will be sent via email for your review, approval and signature.
  • To send documents, checks and/or the original deed a FedEx label will be provided at no additional cost to you or your clients.
  • Once your closing is concluded, proceeds and other disbursements will be sent by FedEx.

Buyer with Lender

  • Prior to closing, we will email the Settlement Statement to all parties for their review.
  • All Seller and Title Documents will be reviewed and signed via email prior to closing.
  • We ask that only the buyers who are required to sign the lender documents attend the closing.
  • Once your closing is concluded, proceeds and other disbursements will be sent by FedEx.

Seller with Lender

  • Please forward all pre-signed closing documents to your closing location via FedEx or email.
  • Any additional closing documents may be signed via email as well.
  • At closing the Settlement Statement and Seller CD will be sent via email for your review, approve, and signature.
  • To send documents, checks and/or the original deed a FedEx label will be provided at no additional cost to you or your clients.
  • Once your closing is concluded, proceeds and other disbursements will be sent by FedEx.

SAFETY PRECAUTIONS

The safety of our staff, customers and their clients are our priority

Lincoln Title Company is taking steps to close as many transactions as possible without face-to-face contact. For those transactions that are still occurring in person, COVID-19 best practices have been established. These practices are consistent with CDC and state health department guidelines aimed at keeping consumers and title company staff as safe as possible. The procedures include, but are not limited to, the following:

  • Enhanced employee hygiene requirements such as handwashing between closings, utilization of hand sanitizer, appropriate social distancing, such as sitting at least six feet apart in closings or separate rooms for each party, if available.
  • Limiting attendees of closings to necessary individuals only
  • Providing hand sanitizer to consumers in lobbies and closing rooms
  • Disinfecting closing rooms between closings
  • Providing new pens to each individual in each closing and asking that the pen be taken with by the individual when they leave
  • If a consumer is ill, they are asked not to come to closing and make alternative arrangements for closing their transaction.
  • In accordance with the City of Chicago’s current mandate, all attendees are required to wear a face mask.