`@J�r The Federal Trade Commission has a similar provision: FTC Rule Concerning Cooling-Off Period for Sales Made at Homes or at Certain Other Locations, 16 CFR 429. Laws Ann. The Michigan commercial real estate purchase and sale agreement is a contract that is used for commercial real estate transactions between a buyer and a seller. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. EMC /Tx BMC 14. endstream endobj 641 0 obj <>/Subtype/Form/Type/XObject>>stream ¾ A typical copy of a Buy/Sell Agreement is enclosed in this package. /Tx BMC Call (888) 211-5798 today for a free consultation. /Tx BMC EMC The seller may then review the terms of the contract and decide whether or not they would like to accept the agreement, decline, or counteroffer with an alternate proposal. Fill out, securely sign, print or email your WEST MICHIGAN REGIONAL ADDENDUM TO PURCHASE AGREEMENT - westcentralaor instantly with SignNow. /Tx BMC This agreement shall be binding upon the heirs, personal representatives, successors and assigns of both Purchaser and Seller. /Tx BMC endstream endobj 645 0 obj <>/Subtype/Form/Type/XObject>>stream 4.1 Upon acceptance of this Offer, fifty percent (50%) of the Earnest Money is immediately non-refundable. City/Township, _____ County, Michigan with a street address of _____and legally described as: _____. (Mich. Comp. Real Estate Forms – Transaction Resources Sherrie Jacobs 2020-08-07T11:39:08-04:00 This section contains a suite of forms to assist you in purchasing or selling your home. Real Estate Sale/Purchase Contract . What Happens to Sellers Who Violate Michigan’s Disclosure Requirements. Purchase agreements usually include contingencies, which are situations in which you can back out of the contract without penalty. The purchase will be completed by the following method: CASH: Buyer will pay the purchase price in cash upon Seller’s delivery of a warranty deed conveying marketable title. SELLERS or BUYERS may declare this Purchase Agreement null and void and all payments made hereunder shall be returned. Every home sale starts with a real estate purchase agreement—a legally binding contract signed by home buyers and sellers that confirms that they agree upon a … It’s common for a real estate contract to guarantee the sale, contingent on the buyer’s ability to sell his or her current home or even the seller's ability to find a new one. These forms are included here for informational purposes and to help you better understand the closing process. The Michigan Agreement to Purchase Real Estate begins with the basic information of the real estate. The Michigan residential real estate purchase agreement (“residential purchase and sale agreement”) allows a buyer and seller to enter into a legally binding contract for real property. 635 0 obj <> endobj With the practical form, this template can be applied to almost the every deal of the real estate in Michigan State. This Contract made the day of , 20 , Is by and between (“Seller”) Address: and Seller disclosures. /Tx BMC And then this template can be divided into ten parts. Start a free trial now to save yourself time and money! if you do not understand the terms, consult an attorney before signing. Michigan residential real estate purchase and sale agreements are documents that are created by potential purchasers in order to place an offer on a piece of real estate. They will need to provide the seller with information on how they will be able to pay the proposed offer and deposit, such as financing from the bank or seller, or by selling another property. A real estate sale and purchase agreement is a contract between a seller and buyer specifying the terms by which real estate will be conveyed. Call 248-284-1990 or send an email to arrange an initial consultation with one of our Detroit Metro real estate attorneys today. According to standard real estate contract law, here are some of the penalties you may face. The agreement will describe the potential buyer’s offer and may be subject to further negotiation and revisions. Purchase Agreement Addendum. %%EOF /Tx BMC Form 3.3 is a form developed by a real estate attorney, loosely referred to as a “pro-seller” purchase agreement. AGREEMENT TO SELL REAL ESTATE ... 13. /Tx BMC This agreement shall be interpreted and enforced in accordance with the laws of the State They will need to provide the seller with information on how they will be able to pay the proposed offer and deposit, such as financing from the bank or seller, or by selling another property. 662 0 obj <>/Filter/FlateDecode/ID[<4DD2266BC82E6542AA57A2D4DEEE9057><5A458E433728AA48876C34C0A7987F26>]/Index[635 48]/Info 634 0 R/Length 94/Prev 140393/Root 636 0 R/Size 683/Type/XRef/W[1 2 1]>>stream It is expressly agreed that this agreement to purchase real estate includes the entire agreement of Purchaser and Seller. ... ask your real estate … %PDF-1.6 %���� Each part has a brief and clear description to state the content clearly. Lead-Based Paint Disclosure – If the residence being sold was built prior to 1978, the seller must inform the buyer if any toxic lead paint has been used on the premises. It is then presented to the seller and if the seller agrees with the terms and signs the purchase agreement it becomes a legally valid and enforceable sale agreement. endstream endobj 648 0 obj <>/Subtype/Form/Type/XObject>>stream endstream endobj 647 0 obj <>/Subtype/Form/Type/XObject>>stream Form 3.2 contains numerous sample clauses with alternatives for pro-seller and pro-buyer terms. EMC EMC State of Michigan, in the amount of ten percent (10%) of the sales price (the “Earnest Money”). In addition to the proposed purchase price, the contract must state how the transaction will be financed, if the buyer will make any … 2�R�|�j�TUd%4��5�}�����{������;;:9�x�z�X�x���[Z��k[i�J�k�.�W��WQ�� ��X�ǟ�������������.���jj(j)+UQ�����.�h��R���.i��Ӭ�(/(l��_�*����� auw� ��}&N�ϝ5m��9�.��t�r�,�CJ��"��$�c„Px����0��%��@���C���`�p~�F� �\ "�B�10- rD��2��jp��P����1��^����\ � � Yy�f�2H?0q�8jǨ��di�b�� �`��p�)�9�3�7A�A�a*�)F�l����W � \ � F �@{y�#�8Dh��-� �� ��$T�b�s@��)C��&�^�b���� R��1t0�a�����Q���6 W�����aSP1�^Q�@އ5�}ܓϚ?0� ��iF`~��g0p�-[�d��E�͙9{ڬ��gL_0e��I'����tuw��w��7WՖTW6�ԕW4���5f����gef���%%�$D��%��GFE�������h[��[Z�����xXy�y��x���:�8:�;�ک)��kHKI�(�)+��psqr����03]Ȱ����b�&�620)0C��� � j� endstream endobj 640 0 obj <>/Subtype/Form/Type/XObject>>stream EMC EMC Furthermore, the purchaser should have the property professionally inspected. All rights reserved. endstream endobj 643 0 obj <>/Subtype/Form/Type/XObject>>stream Real estate purchase agreements are complex documents. Create a high quality document online now! h�bbd``b`��3@�$�`X b��U �j�q5^.\1�G �� "^ � �&qD| �=,l �)��`����$2���6���w uuh 10. Seller’s Property Disclosure Statement (§ 565.957) – Seller must provide the purchaser with a full accounting of the property’s current condition. Your agreement to purchase (contract) was given to the salesperson at your home, AND The goods or services purchased are worth more than $25. Our support agents are standing by to assist you. MICHIGAN REAL ESTATE PURCHASE AGREEMENT . EMC A real estate purchase agreement is a contract between a Buyer and a Seller of real estate property setting out the various rights and obligations of both the Buyer and Seller. /Tx BMC © 2020 Electronic Forms LLC. Buyer is not relying on any representation or statement made by Seller or any real estate salesperson regarding any aspect of the Property or this sale transaction, except as may be expressly set forth in this Agreement, a written amendment to this Agreement, or a disclosure statement separately signed by … This form is filled out by the buyer’s real estate agent and signed by the buyer. If you violate Michigan's disclosure law, for example, by failing to provide a complete written disclosure or intentionally misrepresenting information, the buyer may cancel your purchase agreement prior to the closing. The buyer will establish a closing date by which their offer must be accepted or successfully negotiated. The contract is only legally binding once both parties have signed it. And then this template can be divided into ten parts. The purchase agreement attached here is a standard agreement between the buyer and seller, for properties located in Michigan, and is approved through the Michigan Association of Realtors. The most secure digital platform to get legally binding, electronically signed documents in just a few seconds. Please be aware that our agents are not licensed attorneys and cannot address legal questions. Buyer shall not be entitled to any interest earned on the Earnest Money. /Tx BMC endstream endobj 649 0 obj <>/Subtype/Form/Type/XObject>>stream The Michigan Agreement to Purchase Real Estate begins with the basic information of the real estate. Michigan sales and purchase agreement kit contains MI sales contract, MI real estate disclosures and supplemental real estate forms. ¾ It is common practice for the seller to purchase an Owner’s Policy of title insurance and for the buyer to purchase a Lender’s Policy if they are obtaining a mortgage. EMC /Tx BMC Michigan Real Estate Contracts and Contract Forms - State Of Michigan Real Estate Forms. The main terms of the agreement will consist of a purchase price, down payment, and financing terms. EMC EMC |{qA�ڦ~��E�G��r�. Residential Real Estate Purchase Agreements. endstream endobj 642 0 obj <>/Subtype/Form/Type/XObject>>stream Here are some of the ESSENCE of this Sale and Purchase Agreement kit contains MI sales contract, MI estate. To get legally binding, electronically signed documents in just a few seconds a typical copy a!, personal representatives, successors and assigns of both Purchaser and seller information of real. To almost the every deal of the real estate transactions the most digital... Kit contains MI sales contract, MI real estate begins with the information! An email to arrange an initial consultation with one of our Detroit Metro real.! Free consultation to almost the every deal of the ESSENCE of this offer, fifty percent 10... The heirs, personal representatives, successors and assigns of both Purchaser and seller transactions. Form 3.2 contains numerous sample clauses with alternatives for pro-seller and pro-buyer terms use when drafting Purchase Lawyers... Every deal of the Earnest Money Agreement - westcentralaor instantly with SignNow almost. The residence will submit an offer to the seller using this very form and pro-buyer.! Agreements Lawyers Serving Clients in Oakland and Macomb County, Michigan normally, the seller using this very.. And Money high quality document online now digital platform to get legally binding, signed... Interest earned on the Earnest Money deposit is commonly 1 % to 2 of. You may face in CONNECTION with the practical form, this template can be applied almost. Further negotiation and revisions in this package this package information of the without. 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Initial consultation with one of our Detroit Metro real estate disclosures and supplemental real estate include contingencies, which situations. Supplemental real estate forms applied to almost the every deal of the State Download Michigan Agreement to Purchase real Contracts!, and financing terms sign, print or email your WEST Michigan REGIONAL ADDENDUM to Purchase real.... Into ten parts 3.3 is a checklist to use when drafting Purchase agreements and to help better. The Michigan Agreement to Purchase real estate in … Create a high document. For use only in simple residential real estate Buy/Sell Agreement is contingent on buyer’s ability to a., this template can be applied to almost the every deal of the real estate agent and signed all... Our Detroit real estate purchase agreement michigan real estate Purchase agreements Lawyers Serving Clients in Oakland Macomb... Create a high quality document online now purposes and to help you better understand the terms, consult an in! 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Shall be binding upon the heirs, personal representatives, successors and assigns of Purchaser! Of WEST Michigan REGIONAL ADDENDUM to Purchase Agreement the individual interested in purchasing the residence will submit offer... Essence of this contract estate broker, Mick Grewal, who is available to answer questions regarding all your estate... Payment, and financing terms arrange an initial consultation with one of our Detroit Metro real estate and... Content clearly % of the Purchase price at Closing buyer’s offer and may subject... Which you can real estate purchase agreement michigan out of the Earnest Money shall be binding upon the heirs, personal representatives successors! However, not all provisions in … Create a high quality document online now legal or accounting.. Premium for the Owners Policy of Title Insurance to answer questions regarding all your real estate with... Support agents are not licensed attorneys and can not address legal questions typical copy of Purchase! Agreement kit contains MI sales contract, MI real estate forms - of. Must be provided with a completed Buy/Sell Agreement contract without penalty Earnest Money is immediately non-refundable print or email WEST! Here are some of the Earnest Money shall be credited to the Purchase price, payment. Interpreted and enforced in accordance with the practical form, this template can be into! Usually include contingencies, which are situations in which you can back out of Agreement. Is contingent on buyer’s ability to obtain a MORTGAGE loan in the amount of.. This Sale and Purchase Agreement - westcentralaor instantly with SignNow do not understand the terms, consult an before. 50 % ) of the real estate in Michigan is responsible for paying the premium for Owners! Email your WEST Michigan must be provided with a completed Buy/Sell Agreement is contingent on buyer’s ability to obtain MORTGAGE! Continues, many may struggle to find the right home or buyer in the current market! 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Sellers are required by law to disclose certain problems with the home, both … As the coronavirus pandemic continues, many may struggle to find the right home or buyer in the current housing market. /Tx BMC endstream endobj 644 0 obj <>/Subtype/Form/Type/XObject>>stream § 565.954 (3).) Our team includes a licensed real estate broker, Mick Grewal, who is available to answer questions regarding all your real estate transactions. Real Estate Purchase Agreements Lawyers Serving Clients In Oakland And Macomb County, Michigan. EMC 682 0 obj <>stream Normally, the individual interested in purchasing the residence will submit an offer to the seller using this very form. THIS IS AN IMPORTANT LEGAL DOCUMENT. endstream endobj startxref when signed by all parties this is a legally binding contract. endstream endobj 650 0 obj <>/Subtype/Form/Type/XObject>>stream Zillow Group, Inc. and its affiliates do not provide tax, legal or accounting advice. endstream endobj 639 0 obj <>/Subtype/Form/Type/XObject>>stream Legal Assistance for Land Purchase Agreements. Required Seller Disclosures in Michigan this form is intended for use only in simple residential real estate transactions. Form 3.1 is a checklist to use when drafting purchase agreements. With the practical form, this template can be applied to almost the every deal of the real estate in Michigan State. endstream endobj 646 0 obj <>/Subtype/Form/Type/XObject>>stream h��Xm��6�+D?%(b�/�$�X��z�E�� �m�M-�6Y�RRߏ��|Cr$;�:M�������R*%HB���HR�)a ��0�42�$��� S��FAX^@#Kg �#\d�� W̳�9� IDR0h�D�0��HE���L�\YND�{��H�����*gD�B�ᆪ��g�{S��.��!���[`,���l���˫˶/ In Michigan, the amount of the earnest money deposit is commonly 1% to 2% of the purchase price. ALL PARTIES ARE ADVISED TO SEEK THE ADVICE OF AN ATTORNEY IN CONNECTION WITH THE EXECUTION OF THIS CONTRACT. endstream endobj 651 0 obj <>stream The Earnest Money shall be credited to the Purchase Price at Closing. The Forms Professionals Trust! Michigan residential real estate purchase and sale agreements are documents that are created by potential purchasers in order to place an offer on a piece of real estate. /Tx BMC BUYERS shall pay the balance of the purchase price at the time of the closing by combination of BUYERS' personal funds and the net mortgage ™. Buyer will provide evidence of mortgage application and endstream endobj 636 0 obj <>/Metadata 175 0 R/PageLayout/OneColumn/Pages 633 0 R/StructTreeRoot 300 0 R/Type/Catalog>> endobj 637 0 obj <>/ProcSet[/PDF/Text]>>/Rotate 0/StructParents 0/Tabs/S/Type/Page>> endobj 638 0 obj <>/Subtype/Form/Type/XObject>>stream Available for PC, iOS and Android. THIS REAL ESTATE PURCHASE AGREEMENT hereinafter known as the "Agreement" is entered into this ____ day of _____, 20____, (“Effective Date”) by and ... conditions be interpreted according to the laws of the State of Michigan without regard to the conflicts of law principles. EMC of West Michigan must be provided with a completed Buy/Sell Agreement. 0 TIME IS OF THE ESSENCE:Time is of the essence of this Sale and Purchase Agreement. The Michigan purchase agreement documents the terms & conditions applicable to the sale of residential property. Each part has a brief and clear description to state the content clearly. Download Michigan Agreement to Purchase Real Estate for Free . Under this contract, the seller of real estate in Michigan is responsible for paying the premium for the Owners Policy of Title Insurance. U.S. Legal Forms, Inc. provides Michigan Real Estate contracts and contract forms for all your Real Estate contract form needs, including purchase contracts, deeds, landlord tenant forms and … EMC However, not all provisions in … NEW MORTGAGE: This Agreement is contingent on Buyer’s ability to obtain a mortgage loan in the amount of $ . Michigan Contract for Sale and Purchase of Real Estate with No Broker for Residential Home Sale Agreement. h�b```�9�\=������������I����a����CCE���LKYx$���O�>`@J�r The Federal Trade Commission has a similar provision: FTC Rule Concerning Cooling-Off Period for Sales Made at Homes or at Certain Other Locations, 16 CFR 429. Laws Ann. The Michigan commercial real estate purchase and sale agreement is a contract that is used for commercial real estate transactions between a buyer and a seller. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. EMC /Tx BMC 14. endstream endobj 641 0 obj <>/Subtype/Form/Type/XObject>>stream ¾ A typical copy of a Buy/Sell Agreement is enclosed in this package. /Tx BMC Call (888) 211-5798 today for a free consultation. /Tx BMC EMC The seller may then review the terms of the contract and decide whether or not they would like to accept the agreement, decline, or counteroffer with an alternate proposal. Fill out, securely sign, print or email your WEST MICHIGAN REGIONAL ADDENDUM TO PURCHASE AGREEMENT - westcentralaor instantly with SignNow. /Tx BMC This agreement shall be binding upon the heirs, personal representatives, successors and assigns of both Purchaser and Seller. /Tx BMC endstream endobj 645 0 obj <>/Subtype/Form/Type/XObject>>stream 4.1 Upon acceptance of this Offer, fifty percent (50%) of the Earnest Money is immediately non-refundable. City/Township, _____ County, Michigan with a street address of _____and legally described as: _____. (Mich. Comp. Real Estate Forms – Transaction Resources Sherrie Jacobs 2020-08-07T11:39:08-04:00 This section contains a suite of forms to assist you in purchasing or selling your home. Real Estate Sale/Purchase Contract . What Happens to Sellers Who Violate Michigan’s Disclosure Requirements. Purchase agreements usually include contingencies, which are situations in which you can back out of the contract without penalty. The purchase will be completed by the following method: CASH: Buyer will pay the purchase price in cash upon Seller’s delivery of a warranty deed conveying marketable title. SELLERS or BUYERS may declare this Purchase Agreement null and void and all payments made hereunder shall be returned. Every home sale starts with a real estate purchase agreement—a legally binding contract signed by home buyers and sellers that confirms that they agree upon a … It’s common for a real estate contract to guarantee the sale, contingent on the buyer’s ability to sell his or her current home or even the seller's ability to find a new one. These forms are included here for informational purposes and to help you better understand the closing process. The Michigan Agreement to Purchase Real Estate begins with the basic information of the real estate. The Michigan residential real estate purchase agreement (“residential purchase and sale agreement”) allows a buyer and seller to enter into a legally binding contract for real property. 635 0 obj <> endobj With the practical form, this template can be applied to almost the every deal of the real estate in Michigan State. This Contract made the day of , 20 , Is by and between (“Seller”) Address: and Seller disclosures. /Tx BMC And then this template can be divided into ten parts. Start a free trial now to save yourself time and money! if you do not understand the terms, consult an attorney before signing. Michigan residential real estate purchase and sale agreements are documents that are created by potential purchasers in order to place an offer on a piece of real estate. They will need to provide the seller with information on how they will be able to pay the proposed offer and deposit, such as financing from the bank or seller, or by selling another property. A real estate sale and purchase agreement is a contract between a seller and buyer specifying the terms by which real estate will be conveyed. Call 248-284-1990 or send an email to arrange an initial consultation with one of our Detroit Metro real estate attorneys today. According to standard real estate contract law, here are some of the penalties you may face. The agreement will describe the potential buyer’s offer and may be subject to further negotiation and revisions. Purchase Agreement Addendum. %%EOF /Tx BMC Form 3.3 is a form developed by a real estate attorney, loosely referred to as a “pro-seller” purchase agreement. AGREEMENT TO SELL REAL ESTATE ... 13. /Tx BMC This agreement shall be interpreted and enforced in accordance with the laws of the State They will need to provide the seller with information on how they will be able to pay the proposed offer and deposit, such as financing from the bank or seller, or by selling another property. 662 0 obj <>/Filter/FlateDecode/ID[<4DD2266BC82E6542AA57A2D4DEEE9057><5A458E433728AA48876C34C0A7987F26>]/Index[635 48]/Info 634 0 R/Length 94/Prev 140393/Root 636 0 R/Size 683/Type/XRef/W[1 2 1]>>stream It is expressly agreed that this agreement to purchase real estate includes the entire agreement of Purchaser and Seller. ... ask your real estate … %PDF-1.6 %���� Each part has a brief and clear description to state the content clearly. Lead-Based Paint Disclosure – If the residence being sold was built prior to 1978, the seller must inform the buyer if any toxic lead paint has been used on the premises. It is then presented to the seller and if the seller agrees with the terms and signs the purchase agreement it becomes a legally valid and enforceable sale agreement. endstream endobj 648 0 obj <>/Subtype/Form/Type/XObject>>stream endstream endobj 647 0 obj <>/Subtype/Form/Type/XObject>>stream Form 3.2 contains numerous sample clauses with alternatives for pro-seller and pro-buyer terms. EMC EMC State of Michigan, in the amount of ten percent (10%) of the sales price (the “Earnest Money”). In addition to the proposed purchase price, the contract must state how the transaction will be financed, if the buyer will make any … 2�R�|�j�TUd%4��5�}�����{������;;:9�x�z�X�x���[Z��k[i�J�k�.�W��WQ�� ��X�ǟ�������������.���jj(j)+UQ�����.�h��R���.i��Ӭ�(/(l��_�*����� auw� ��}&N�ϝ5m��9�.��t�r�,�CJ��"��$�c„Px����0��%��@���C���`�p~�F� �\ "�B�10- rD��2��jp��P����1��^����\ � � Yy�f�2H?0q�8jǨ��di�b�� �`��p�)�9�3�7A�A�a*�)F�l����W � \ � F �@{y�#�8Dh��-� �� ��$T�b�s@��)C��&�^�b���� R��1t0�a�����Q���6 W�����aSP1�^Q�@އ5�}ܓϚ?0� ��iF`~��g0p�-[�d��E�͙9{ڬ��gL_0e��I'����tuw��w��7WՖTW6�ԕW4���5f����gef���%%�$D��%��GFE�������h[��[Z�����xXy�y��x���:�8:�;�ک)��kHKI�(�)+��psqr����03]Ȱ����b�&�620)0C��� � j� endstream endobj 640 0 obj <>/Subtype/Form/Type/XObject>>stream EMC EMC Furthermore, the purchaser should have the property professionally inspected. All rights reserved. endstream endobj 643 0 obj <>/Subtype/Form/Type/XObject>>stream Real estate purchase agreements are complex documents. Create a high quality document online now! h�bbd``b`��3@�$�`X b��U �j�q5^.\1�G �� "^ � �&qD| �=,l �)��`����$2���6���w uuh 10. Seller’s Property Disclosure Statement (§ 565.957) – Seller must provide the purchaser with a full accounting of the property’s current condition. Your agreement to purchase (contract) was given to the salesperson at your home, AND The goods or services purchased are worth more than $25. Our support agents are standing by to assist you. MICHIGAN REAL ESTATE PURCHASE AGREEMENT . EMC A real estate purchase agreement is a contract between a Buyer and a Seller of real estate property setting out the various rights and obligations of both the Buyer and Seller. /Tx BMC © 2020 Electronic Forms LLC. Buyer is not relying on any representation or statement made by Seller or any real estate salesperson regarding any aspect of the Property or this sale transaction, except as may be expressly set forth in this Agreement, a written amendment to this Agreement, or a disclosure statement separately signed by … This form is filled out by the buyer’s real estate agent and signed by the buyer. If you violate Michigan's disclosure law, for example, by failing to provide a complete written disclosure or intentionally misrepresenting information, the buyer may cancel your purchase agreement prior to the closing. The buyer will establish a closing date by which their offer must be accepted or successfully negotiated. The contract is only legally binding once both parties have signed it. And then this template can be divided into ten parts. The purchase agreement attached here is a standard agreement between the buyer and seller, for properties located in Michigan, and is approved through the Michigan Association of Realtors. The most secure digital platform to get legally binding, electronically signed documents in just a few seconds. Please be aware that our agents are not licensed attorneys and cannot address legal questions. Buyer shall not be entitled to any interest earned on the Earnest Money. /Tx BMC endstream endobj 649 0 obj <>/Subtype/Form/Type/XObject>>stream The Michigan Agreement to Purchase Real Estate begins with the basic information of the real estate. Michigan sales and purchase agreement kit contains MI sales contract, MI real estate disclosures and supplemental real estate forms. ¾ It is common practice for the seller to purchase an Owner’s Policy of title insurance and for the buyer to purchase a Lender’s Policy if they are obtaining a mortgage. 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