POTENTIAL PROBLEMS: WHEN EXTRA TITLE INSURANCE COMES IN HANDY
Listed are potential scenarios in buying a home.
For additional explanations please contact escrow office.
Scenario 1
The current homeowners purchased their property eight months ago. The city notifies them that the Seller’s addition on the home has been “red-tagged” because it is not legally permitted.
Their Choices are:
• Pay the permit fees and bring the addition up to code.
• Tear down the room.
The homeowners contact their agent questioning why an unpermitted room was not disclosed to them prior to purchasing the property. The agent’s Broker gets involved and contacts the title company who insured the property. Under the ALTA Residential Policy, without the added protection, the title company denies the claim on its policy.
However, the Added Protection Provides Coverage
Scenario 2
The current homeowners purchased their property eight months ago. The homeowners association notifies them that their seconds story room addition, built by the former owner is in direct violation of the CC&R’s and must be removed. The homeowners association also informs them that the orange ca-sitas roof tile installed prior to purchase violates the restrictions in the CC&R’s and must be changed. The homeowners contact the agent inquiring why they didn’t go over the CC&R’s prior to closing. Under the ALTA Residential Policy, without the added protection, the title company denies the claim on its policy.
However, the Added Protection Provides Coverage
Scenario 3
The current homeowners are in escrow to finance the property. The preliminary report shows a sec-ond deed of trust on the property. The homeowners claim they never executed a second deed of thrust and request a copy of the signed document. To their dismay, their names are forged on the trust deed. Under the ALTA Residential Policy, without the added protection, the title company denies the claim on its policy.
However, the Added Protection Provides Coverage
Scenario 4
The current homeowners ask their next door neighbor to stop building a patio cover which is encroaching onto their property. The neighbor continues building the cover. Under the ALTA Residential Policy, without the added protection, the title company denies the claim on it’s policy.
However, the Added Protection Provides Coverage

Contact me today for a marketing proposal for your home and you’ll see why my listings sell faster and for more money than the rest!
480-788-3232
Serena@SereneLivingAZ.com
Contact me today for your FREE Home Consultation!

Can You Waive the Appraisal Contingency?
In todays competitive market, a lot of buyers are getting desperate in their offers. We're seeing many people shortening their inspections, waiving the appraisal contingency, making their earnest money go hard and all kinds of things. Today, lets talk about the...
What is being considered in multiple offers
Do you want to make your offers stand out in this market? What are you up against? What are the winning offers doing? Lets review the multiple offer presentation form, so that you can see exactly what a seller is considering when reviewing multiple offers. It's not...

230 N Mt Vernon Ave in Prescott AZ for Sale
Anyone that has ever visited Prescott has likely driven down Mt Vernon Ave and dreamed of owning one of the charming historic homes along the street. 230 N Mt Vernon Ave has been meticulously maintained and renovated in it's historic charm. Now you have a chance to...

How I’ve Invested in Real Estate – 10 Best Practices
We have been investing in properties for a a few years now. We've gone about it on a very conservative level though, playing it safe. We're not "flippers" per say, although if we saw the right opportunity, we'd still jump on it. We've been investing in rental...

MYTH: Realtors are here to help you search for homes
Theory: Real estate agents help people search for the right home. Right? MYTH As much as I do search for homes, be honest, you're searching too... 90% of the time, you don't buy the home that fits into the criteria you tell your agent anyway. No matter how much I...

My Favorite Inspectors
I've met a lot of home inspectors and I've seen a lot of inspection reports. With a background in construction, I tend to be drawn to inspectors that have some construction background, who have a respect for the nature of the business and who will be candid and...

How to Hire a Home Inspector
Real Estate Inspections can be a very sticky subject at times. It's important that you know, not all inspectors are the same. We're asked all the time for a "good inspector". I'd like to ask you... what is a good inspector to you? Some people qualify the inspector by...

Going Places in the Golden Years
Retirement is the perfect time to consider moving to a smaller place or a more relaxing environment. Read on for a few simple suggestions to make the process as stress-free as possible. Sort and surrender Getting older often means downsizing to get rid of items that...

Back on the Market! 2249 W Calle Iglesia Ave Dobson Ranch Home for Sale
Did you miss out the first time? Having regrets? Well, what are you waiting for?! Here's your opportunity to get in to the coveted Dobson Ranch lake community, located right in the heart of the Phoenix East Valley. Between the US 60 and the 101, there's nowhere in the...

Westbrook Village – Home for sale in Peoria’s Top Retirement Neighborhood
I know you're wondering where you should retire to. Somewhere warm, fun, active... no stuffy little apartment for you. You want room to spread out, but not so much that everyone wants to crash at your place. Well, look no further, we have just the right home for you....