Seller Protection Plan
Seller Protection Plan
In a real estate transaction, it is important to note that all parties are generally protected, with the exception of the seller. To ensure adequate protection, closing escrow with CBH Title LLC. is a prudent choice, as the company provides a Seller's Protection Plan. This plan offers coverage ranging from $25,000 to $100,000 for inadvertent errors and omissions pertaining to the sale of a property, including the defense costs for which the seller may be legally responsible in the event of a claim. The Seller's Protection Plan extends coverage for up to 180 days following the closure of escrow for the seller's primary residence.
25K Protection
Sellers can protect themselves against potential lawsuits or disclosure-related issues with $25,000 in coverage after the closure of escrow, with no upfront cost. Enrollment in this coverage must occur within 7 days of escrow closing.
50k Protection
It is possible to increase Errors & Omissions coverage to $50,000 by obtaining a Natural Hazard Disclosure (NHD) report.
100k Protection
To achieve maximum protection, sellers may opt to double their coverage to $100,000. This enhancement not only increases coverage limits but also helps reduce the seller's out-of-pocket expenses for claims. This can be accomplished by purchasing a CRES-Qualified Home Warranty.
Seller is responsible for paying a $2,500 deductible as a result of a covered circumstance. Review policy for a complete description of qualifications and restrictions (a copy of your SPP endorsement can be provided)
*The Seller’s E&O policy applies to the Primary Residence of the Seller and must have been occupied by the Seller within 90 days prior to the date of a completed contract.
** To file a claim there is a $2,500 retention fee (per claim and per policy).
*** Warranties and NHD must be purchased as part of the Close of Escrow. CRES version of the 13-month warranty is required for the $50,000 coverage.
Our partners & suppoters
