[WSBARP] Letter of Intent/Title Ins. ?
Lewis, Brian L.
Lewis at ryanlaw.com
Thu Dec 13 10:46:54 PST 2018
Justin.
It's customary that the buyer pay the extended coverage premium, which is on top of the standard coverage premium. Seller typically pays the standard coverage premium. Buyer also pays for the survey required to obtain extended coverage.
Brian L. Lewis
206-654-2206
On Dec 13, 2018, at 11:38 AM, Justin Monro <justinm at monrolawfirm.com<mailto:justinm at monrolawfirm.com>> wrote:
Hello.
Client process of selling property and accepting Letter of Intent (LOI).
Clients property, 5 acres with home, some wet issues (likely) and potential plat of property. Client would like to sell to developer.
However, developer came back and requested an extended title coverage to be paid by seller. Is this beneficial to my seller? Maybe I am wrong but I assumed the extended coverage included a survey?
Also, is there anything wrong with accepting LOI or just write a P&S agreement. Thoughts. Thank you for any answers!
Thank you,
Justin K. Monro
Attorney at Law
The Monro Law Firm PS Inc.
1830 Bickford Ave. Ste 204
Snohomish, WA 98290
_______________________________________________
WSBARP mailing list
WSBARP at lists.wsbarppt.com<mailto:WSBARP at lists.wsbarppt.com>
http://mailman.fsr.com/mailman/listinfo/wsbarp
--
CONFIDENTIALITY: This e-mail and its attachments are confidential and
may
be protected by the attorney/client privilege, work product
doctrine, or
other nondisclosure protection. If you believe that it has
been sent to
you in error, you may not read, disclose, print, copy,
store or
disseminate the e-mail or any attachments or the information
in them. If
you have received this communication in error, please
notify this firm
immediately by reply to this communication or by
calling toll free
800-458-5973 or if International collect
at (206) 464-4224.
-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://mailman.fsr.com/pipermail/wsbarp/attachments/20181213/dcbd40ef/attachment.html>
More information about the WSBARP
mailing list