Common use of Commitment for Preliminary Title Insurance Clause in Contracts

Commitment for Preliminary Title Insurance. In order to activate your listing, MLS rules require an attached legal description (often referred to as vesting deed, Exhibit A, from a title report). Without a legal description attached to your sales contract, you may not have a binding contract in the state of Washington. Form 1B Exclusive Agency Sale and Listing Agreement and paragraph (d) of the Washington State purchase agreement require Seller to have marketable title. In addition, many real estate brokers will not show your listing or write a purchase and sale agreement without reviewing your preliminary title report. At no cost to seller: MLS4owners will order your title report and exhibit A (legal description) and attach them to your MLS listing. Our preferred Title Insurance Agency is Ticor Title Company, a subagent of Fidelity National Title. Current title rates can be viewed on Ticor’s website. To comply with RCW 18:85, OIC (Office of the Insurance Commissioner) rules, and Washington State purchase agreement, Form 21 paragraph (e), if Buyer declines to use this title policy then Buyer shall pay a cancellation fee. Current MLS4OWNERS title insurance cancelation fee is $200.00. This fee is disclosed to member brokers in the MLS and is paid through escrow at closing. See OIC website for details on Title Insurance. Seller is not required to use MLS4OWNERS preferred title insurance provider. If Seller has a preferred title insurance agency, please order your title and send Exhibit A with your Service Agreement to activate your listing. Expect 1-2 days delay to activate your listing in the MLS if using your preferred title company due to the time it takes to issue the commitment and legal description. Note: Some title companies will not open title for an unrepresented seller without a purchase and sale agreement.

Commitment for Preliminary Title Insurance. In order to activate your listing, MLS rules require an attached legal description (often referred to as vesting deed, Exhibit A, from a title report). Without a legal description attached to your sales contract, you may not have a binding contract in the state of Washington. Form 1B Exclusive Agency Sale and Listing Agreement and paragraph (d) of the Washington State purchase agreement require Seller to have marketable title. In addition, many real estate brokers will not show your listing or write a purchase and sale agreement without reviewing your preliminary title report. At no cost to seller: MLS4owners will order your title report and exhibit A (legal description) and attach them to your MLS listing. Our preferred Title Insurance Agency is Ticor Title Company, a subagent of Fidelity National Title. Current title rates can be viewed on Ticor’s website. To comply with RCW 18:85, OIC (Office of the Insurance Commissioner) rules, and Washington State purchase agreement, Form 21 paragraph (e), if Buyer declines to use this title policy then Buyer shall pay a cancellation fee. Current MLS4OWNERS title insurance cancelation fee is $200.00. This fee is disclosed to member brokers in the MLS and is paid through escrow at closing. See OIC website for details on Title Insurance. Seller is not required to use MLS4OWNERS preferred title insurance provider. If Seller has a preferred title insurance agency, please order your title and send Exhibit A with your Service Agreement to activate your listing. Expect 1-2 3 days delay to activate your listing in the MLS if using your preferred title company due to the time it takes to issue the commitment and legal description. Note: Some title companies will not open title for an unrepresented seller without a purchase and sale agreement.

Commitment for Preliminary Title Insurance. In order to activate your listing, MLS rules require an attached legal description description, (often referred to as vesting deed, Exhibit A, from a title report). Without a legal description attached to your sales contract, you may not have a binding contract in the state of Washington. Form 1B Exclusive Agency Sale and Listing Agreement and Washington State purchase agreement, Form 21, paragraph (d) of the Washington State purchase agreement require Seller ), requires seller to have marketable title. In addition, many real estate brokers will not show your listing or write a purchase and sale agreement without reviewing your preliminary title report. At no cost to seller: MLS4owners will order your title report and exhibit A (legal description) and attach them to your MLS listing. Our preferred Title Insurance Agency is Ticor Title Company, a subagent of Fidelity National Title. Current title rates can be viewed on Ticor’s our website. To comply with RCW 18:85, OIC (Office of the Insurance CommissionerInsurance) rules, and Washington State purchase agreement, Form 21 paragraph (e), if Buyer declines to use this title policy then Buyer shall pay a cancellation fee. Current MLS4OWNERS title insurance cancelation fee is $200.00. This fee is disclosed to member brokers in the MLS and is paid through escrow at closing. See OIC website for details on Title Insurance. *Seller is not required to use MLS4OWNERS preferred title insurance provider. If Seller has a preferred title insurance agency, please order your title and send Exhibit A with your Service Agreement to activate your listing. FYI: Expect 1-2 3 days delay to activate your listing in the MLS if by using your preferred title company due to the time it takes to issue the commitment and legal descriptioncompany. Note: Some Many title companies will not open title for an unrepresented seller without a purchase and sale agreement.