Common use of Settlement Services Clause in Contracts

Settlement Services. For all sales or acquisitions involving REO Properties, Altisource will provide closing, escrow and settlement services (for buyer, seller or both as applicable for each transaction) including, but not limited to: (a) Serve as closing agent for all contracts for the purchase or sale of REO Properties by Residential, unless otherwise required by the applicable contract governing that transaction, and, in that capacity, manage and coordinate the close of escrow, including timely disbursement of seller’s proceeds; and (T-3750) Confidential (b) Prepare and review closing documentation, including preparation of the deed where permitted by law, review of the HUD-1 statement and all other documents required for closing.