We couldn’t close the purchase of a house on time, due to the title not being clear up by the seller yet. We want to extend the closing date, and add the following sentences in the amendment.
“After closing of the property, if it is found that there are title defects not covered by owner’s title insurance policy, sellers have full responsibility to clear the title and recover buyers’ loss arising from problems connected to these title defects”.
The seller (seller’s agent) does not want us to add this in the amendment. My question is
1. Such sentences added to the amendment are legal, reasonable? Can it protect us as buyer in case there are title defects after closing and not covered by our title insurance?
2. Why the seller (seller’s agent) does not want us to have this addition, by saying that this cannot legally protect us? My point is that if the seller knows there won’t be any title problem after closing, why they should be concerned about this “legally ineffective” languages?
“After closing of the property, if it is found that there are title defects not covered by owner’s title insurance policy, sellers have full responsibility to clear the title and recover buyers’ loss arising from problems connected to these title defects”.
The seller (seller’s agent) does not want us to add this in the amendment. My question is
1. Such sentences added to the amendment are legal, reasonable? Can it protect us as buyer in case there are title defects after closing and not covered by our title insurance?
2. Why the seller (seller’s agent) does not want us to have this addition, by saying that this cannot legally protect us? My point is that if the seller knows there won’t be any title problem after closing, why they should be concerned about this “legally ineffective” languages?
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