Title & Escrow Services (#25COP001)

The City of Prescott awarded a contract for title‑insurance, escrow, and related real‑estate closing services to Yavapai Title Agency, Inc. The agreement covers both commercial and residential transactions, including acquisitions, sales, right‑of‑way, easements, and temporary construction easements. Work will be assigned on a per‑project basis, with the contractor providing complete legal descriptions, title reports (paper or PDF), and escrow administration for each assigned parcel. The contract has an initial one‑year term starting 22 Oct 2024, with up to four additional one‑year extensions subject to performance and CPI‑capped price increases. Bids were opened on 5 Sep 2024, and the award was announced on 24 Sep 2024. The City requires the vendor to hold specific insurance coverages and to submit certificates of insurance prior to work commencement. • Scope includes title searches, title‑insurance issuance, escrow handling, and easement research for city‑owned properties. • Single‑vendor award; Yavapai Title Agency, Inc. was the highest‑scoring bidder. • Contract term: 1 year with up to four optional 1‑year extensions, CPI‑capped price adjustments. • Mandatory insurance: $2 M CG liability, $1 M auto liability, workers’ comp, and A‑M Best rating ≥ A‑VII.