First Title's Home Ownership Protection Policy can help you deliver a better service to both sides of the transaction:
> your vendor can achieve an unconditional agreement faster;
> the purchaser achieves greater protection against more property law risks than a LIM Report could ever disclose.

> Enhancing Saleability - arrange for the vendor to attach a policy to a sale
> Vendor's Confirmation

First Title can help real estate agents help their vendors by providing a "Vendor's Confirmation of Insurance". This can be ordered at any time.

The Confirmation works as follows:

> The Vendor's Confirmation of insurance confirms to the vendor and any prospective purchaser that on determination of the purchase price, notification of the purchaser’s details and payment of the premium, a Home Ownership Protection Policy will be issued to the Purchaser for the property.

> By providing this confirmation to the purchaser's, the Vendor is undertaking to pay the premium on issue of the policy to the purchaser.

> The following is the text of an appropriate clause for including in the agreement for sale and purchase:

"The Vendor undertakes, immediately upon this contract becoming unconditional in all respects, to pay to First Title Pacific Limited the premium in respect of the Home Ownership Protection Policy to be issued pursuant to the confirmation attached to this agreement and provide all information to enable the policy to be issued to the Purchaser prior to the Possession Date."

The process for ordering a Vendor's confirmation is as follows:
> On receipt of a Vendor’s order, we will obtain a title search of the property and send to the vendor (or the agent) a pack containing:
> a copy of the search;
> the confirmation;
> a draft Policy Schedule; and
> a copy of the policy wording.

The cost of a confirmation is $80.00 (including GST) and is payable on issue of the confirmation.
On issue of the Purchaser’s policy, $50.00 of the cost of the confirmation is credited towards the premium.
A confirmation lasts for 6 months and may be renewed on request for further periods of 6 months.

> Closing a Purchase - without going out on a LIM