The last of the Top Ten Buyer mistakes according to the California Association of Realtors is not properly handling a claim for property defects discovered after close of escrow. In these matters, time IS of the essence.
Defects found after closing, could range from encroachment of property lines, improperly filed judgements or more simple things like a repair that costs more due to code. One thing most Buyers don't know is that most of these items are covered under their Title insurance policy IF their agent requested the New Homeowner Coverage Policy, instead of the Standard CLTA. Here is a link to Title Policies Compared provided by California Association of Realtors. This is just another reason to work with a knowledgeable Realtor... Check out the chart.
Buying a property or home? I strongly suggest that you include the upgraded coverage of the New Homeowner Title Insurance- even at the higher cost.
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