How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Infolawyer Your Own Question
Infolawyer, Lawyer
Category: Consumer Protection Law
Satisfied Customers: 6867
Experience:  Licensed attorney helping individuals and businesses.
Type Your Consumer Protection Law Question Here...
Infolawyer is online now
A new question is answered every 9 seconds

I sold a home owner carry and the title company at

Customer Question

I sold a home owner carry and the title company at knowledged the buyer was responsible for fire hazard insurance . The loan agreement well stated the requirement for the fire Insurance . The pre-closing settlement statement included the title companies promise to see that the buyer obtains fire insurance prior to closing. This is all standard procedure for all escrow companies handling real estate sales weather for owner carry or banks or any type of lender. It has always been the case for me every time I used a title company services . Well it turns out they will fully breached their promise and they closed the sale without briefing either party involved . The buyers assumed that because they were not asked to arrange fire insurance that meant it was part of the mortgage payment because they were inexperienced and never questioned it . As the seller I trusted the title company to do the job they promised to do because I was inexperienced and this was my first owner carry Sale. When the home burn down and the buyers told me they thought insurance was part of the mortgage payment , I filed a claim with the title company and they responded saying they had no obligation to confirm hazard insurance was in place prior to closing . Every realtor I speak to says this is standard procedure and websites of every title company I look at all promise to do this . The title company in question even promised to do this . I trusted that because no insurance cancellation notice ever arrived in the mail all was fine because I had moved on to other demanding task and I never had a reason to doubt the professionalism and expertise of the escrow company I had hired . The buyers immediately stopped paying and relocated after many donations from the community help them start a new life elsewhere . Now I have a big mess to clean up and no money to rebuild with and my own home is in jeopardy because I used a line of credit to buy the other home . So before I file in Superior Court my question is have there been other similar successful cases with similar circumstances or how do I obtain information regarding similar claims in any state , not limited to Arizona . Thank you
Submitted: 1 year ago.
Category: Consumer Protection Law
Expert:  Phillips Esq. replied 1 year ago.

Thank you very much for requesting for my assistance.

I am so sorry to read about your difficulties. However, I am unable to help you because I am not licensed to practice in Arizona and I cannot cite case laws to you. However, the title insurance company is liable for the loss because they had a duty to make sure that the house had fire insurance before closing the deal.

I will opt out and give another Attorney the opportunity to further assist you.

Goodluck with your case,