02-24-2015, 04:05 PM
Plain English translation:
When you buy an ALTA Insurance policy, we will tell you in advance things regarding your property Title we do not cover. Look in Schedule A.
When you are ready to sell your property, a buyer will sign a contract to buy.
That future buyer will then look at your property Title.
If that buyer doesn't like your property Title they will likely back out of the agreement.
A typical reason a qualified buyer will back out of agreements to buy is they find out that they cannot obtain conventional financing and conventional insurance.
Therefore, while you own your property, if conventional financing and insurance is no longer available to a future buyer, you may file a claim.
Claims can be uptown 150% of your purchase price.
When you buy an ALTA Insurance policy, we will tell you in advance things regarding your property Title we do not cover. Look in Schedule A.
When you are ready to sell your property, a buyer will sign a contract to buy.
That future buyer will then look at your property Title.
If that buyer doesn't like your property Title they will likely back out of the agreement.
A typical reason a qualified buyer will back out of agreements to buy is they find out that they cannot obtain conventional financing and conventional insurance.
Therefore, while you own your property, if conventional financing and insurance is no longer available to a future buyer, you may file a claim.
Claims can be uptown 150% of your purchase price.
Former Puna Beach Resident
Now sailing in SE Asia
HOT BuOYS Sailing
Now sailing in SE Asia
HOT BuOYS Sailing