Construction Escrow Specialist
Landtrust Title Services, Schaumburg, IL, United States
We are seeking a highly motivated and detail-oriented individual to join our team as a Construction Escrow Specialist. This position is integral to the successful coordination and completion of title and escrow processes for both residential and commercial new construction projects, as well as renovation projects, ensuring clear title and compliance with all relevant regulations.
This role is fully on site at our Schaumburg Landtrust office.
Facilitate Construction Escrow Services with Builders, General Contractor's Subcontractors, Lenders and Homeowners
Manage the overall construction draw process on behalf of the company
Examine the Sworn Owner's Statement, Sworn General Contractor's Statement, and all lien waivers to ensure that the contract amounts, prior payments, current payments, and balances due correspond on all documentation
Review all draw paperwork to verify that the documentation is completed correctly and that the forms submitted are acceptable.
Ensure that the figures listed in sworn statements and waivers total correctly
Responsible for any communication between owner, lender, general contractor, and subcontractors as needed regarding any corrections or Title Indemnities needed
Disburse Draw funds to the appropriate parties
Follow the terms of the construction escrow disbursing agreement governing each project the Construction Escrow Specialist is assigned
Order the title search later date prior to each draw and disclose any changes in title to the owner and lender.
Review title searches to identify any encumbrances, liens, or ownership disputes related to new construction properties
Resolve title issues by collaborating with relevant parties and taking necessary legal action
Process and issue Construction related Endorsements to the TItle Policy.
Escrow and Closing/Post Closing
Assist the real estate closing process for Commercial and Residential new construction or renovation projects, ensuring compliance with real estate contracts, lender instructions, title requirements, endorsements, and company procedures
Coordinate with lenders, builders, and other stakeholders to obtain and process necessary documentation accurately and on time. Prepare construction related closing documents, ensuring accuracy and compliance with state and federal regulations.
Review loan documents for accuracy and follow up on title insurance.
Client Service and Communication
Deliver high-quality customer service to clients, internal teams, and stakeholders involved in the new construction process
Maintain proactive communication by addressing questions and resolving issues promptly and professionally with all parties
Develop and sustain strong working relationships with clients, builders, lenders, real estate agents, and industry partners
Requirements
3-5 years of relevant title experience
Valid notary with the state of Illinois or willing to obtain
Strong understanding of new construction processes, including phases of development, typical documentation, and relevant regulations
Knowledge of title insurance processes, and closing procedures
Excellent communication and interpersonal skills, both written and verbal
Strong attention to detail and ability to identify and resolve complex issues
Proficiency in title and escrow software systems (e.g., Soft Pro, ResWare, Qualia) and common business software platforms (e.g., Microsoft Office Suite)
Ability to work independently and as part of a team, managing multiple tasks, priorities and meeting deadlines
Excellent organizational skills (attention to detail)
Ability to work with confidential information and data
Benefits
Medical
Dental
401k with match
Paid Time Off
Volunteer Time Off
Salary
$50,000 - $65,000
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This role is fully on site at our Schaumburg Landtrust office.
Facilitate Construction Escrow Services with Builders, General Contractor's Subcontractors, Lenders and Homeowners
Manage the overall construction draw process on behalf of the company
Examine the Sworn Owner's Statement, Sworn General Contractor's Statement, and all lien waivers to ensure that the contract amounts, prior payments, current payments, and balances due correspond on all documentation
Review all draw paperwork to verify that the documentation is completed correctly and that the forms submitted are acceptable.
Ensure that the figures listed in sworn statements and waivers total correctly
Responsible for any communication between owner, lender, general contractor, and subcontractors as needed regarding any corrections or Title Indemnities needed
Disburse Draw funds to the appropriate parties
Follow the terms of the construction escrow disbursing agreement governing each project the Construction Escrow Specialist is assigned
Order the title search later date prior to each draw and disclose any changes in title to the owner and lender.
Review title searches to identify any encumbrances, liens, or ownership disputes related to new construction properties
Resolve title issues by collaborating with relevant parties and taking necessary legal action
Process and issue Construction related Endorsements to the TItle Policy.
Escrow and Closing/Post Closing
Assist the real estate closing process for Commercial and Residential new construction or renovation projects, ensuring compliance with real estate contracts, lender instructions, title requirements, endorsements, and company procedures
Coordinate with lenders, builders, and other stakeholders to obtain and process necessary documentation accurately and on time. Prepare construction related closing documents, ensuring accuracy and compliance with state and federal regulations.
Review loan documents for accuracy and follow up on title insurance.
Client Service and Communication
Deliver high-quality customer service to clients, internal teams, and stakeholders involved in the new construction process
Maintain proactive communication by addressing questions and resolving issues promptly and professionally with all parties
Develop and sustain strong working relationships with clients, builders, lenders, real estate agents, and industry partners
Requirements
3-5 years of relevant title experience
Valid notary with the state of Illinois or willing to obtain
Strong understanding of new construction processes, including phases of development, typical documentation, and relevant regulations
Knowledge of title insurance processes, and closing procedures
Excellent communication and interpersonal skills, both written and verbal
Strong attention to detail and ability to identify and resolve complex issues
Proficiency in title and escrow software systems (e.g., Soft Pro, ResWare, Qualia) and common business software platforms (e.g., Microsoft Office Suite)
Ability to work independently and as part of a team, managing multiple tasks, priorities and meeting deadlines
Excellent organizational skills (attention to detail)
Ability to work with confidential information and data
Benefits
Medical
Dental
401k with match
Paid Time Off
Volunteer Time Off
Salary
$50,000 - $65,000
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