Once you negotiate an accepted offer on a home in San Diego, you will receive many disclosures, reports, and documents to review. One of those is the Preliminary Title Report from the company you chose (in the purchase contract) as your Title Insurance company. Your Preliminary Title Report (or PR) will have a Schedule A and Schedule B, plus more information and disclosures from the Title Insurance company.
When reviewing Schedule A of the PR, be sure that your name is spelled correctly and that the property address and description of the land are also correct. Be sure that the policy matches the type of policy that was agreed-to in your purchase contract. There is a difference between an Owner's Policy and a Homeowner's Policy, so make sure it matches up.
Schedule B contains a list of exceptions to your title insurance coverage. Be sure to review that list to make sure there are no exceptions that shouldn't be there. You can call the title officer (his/her name and phone number are usually listed on the first page of the PR) and ask him/her to review Schedule B with you, so you understand the exceptions (and so he/she can remove any that shouldn't or don't need to be there). You can also ask your exclusive buyer agent for help in reviewing the PR with you. Just remember that a real estate broker can offer real estate advice but not legal advice. If you need legal advice about the Preliminary Title Report, you should consult with a real estate attorney.
Justin Gramm is the founder and principal broker of Globella Buyers Realty, your San Diego Exclusive Buyer Brokerage. He also writes this blog, "For San Diego Home Buyers."
Exclusive Buyer Agents do not list homes for sale and never represent sellers. They have no "inventory" to try to sell you. They can represent you in purchasing any home. They are specialists at representing buyers only on the buyers' side of the transaction. Exclusive Buyer Agents work to get buyers the best price and terms when they buy a home.
If you have excellent credit and plan to buy a home or condo in San Diego County within 90 days, contact Justin Gramm to hire an agent on your side of the transaction. Call Justin at (858) 437-2662 or E-mail.
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