How should a sponsor prepare the title and survey for a CRE closing?

Track the outstanding items before closing

Title commitment: order within 7 days of term-sheet signing. The commitment lists every recorded encumbrance plus the title agent's required cures and new endorsements. Most institutional lenders require ALTA loan policy with specific endorsements (zoning 3.1, comprehensive 9, access, contiguity, survey), confirm the endorsement list with lender legal before ordering.

Survey reuse on refi: lenders will often accept an existing ALTA survey dated within 5 to 10 years on refi if no material physical changes have occurred. Bring the existing survey forward with a no-change affidavit when possible, saves $5K to $15K and 2 to 4 weeks.

New ALTA on acquisition: order the survey at the same time as the title commitment. The ALTA standard requires the surveyor to coordinate with the title agent on Schedule B exceptions; coordinated workflow saves time.

Common title exceptions to clear early: off-record easements identified by survey, missing easement releases from prior deals, expired right-of-way grants, unreleased mortgages from satisfied loans, mechanic's lien claims (real or threatened), pending litigation. Engage borrower counsel on each within the first two weeks of the closing process.

Survey blockers: encroachments (a building footprint over a property line, an easement obstruction, parking area extending into adjacent property) require either a release from the affected party, an easement, or a re-platting. Months of cure work, identify in week one.