We at Los Sueños, want to ensure that your purchase is secure and that you have peace of mind at all times, knowing that your title is free and clear, that your property is secure, and that your investment is safe. Nothing makes us feel more comfortable when you’re comfortable.
1. TITLE INSURANCE
Title insurance protects real estate owners and lenders against any property loss or damage they might experience because of liens, encumbrances or defects in the title to the property. Each title insurance policy is subject to specific terms, conditions and exclusions.
Insurance such as car, life, health, etc., protects against potential future events and is paid for with monthly or annual premiums. A title insurance policy insures against events that occurred in the past of the real estate property and the people who owned it, for a one-time premium paid at the close of the escrow.
Title insurance protects against claims from defects. Defects are things such as another person claiming an ownership interest, improperly recorded documents, fraud, forgery, liens, encroachments, easements and other items that are specified in the insurance policy.
2. BUILDER / DEVELOPER FAILURE TO DELIVER INSURANCE
This insurance protects the buyer from any contractual obligations that exist between Los Sueños and you the investor. It ensures that pre-construction timelines are met, that your deposit is protected, that there are no unreasonable delays in occupancy and it ensures that there are no financial losses to you the investor.
3. BUILDER / DEVELOPER WARRANTY INSURANCE
As part of the building process, this insurance policy ensures the construction process is “as promised” and is according to all the covenants made in the contractual agreements. This insurance in essence, insures the warranty claimed by the builder / developer.
Some examples of how this insurance can protect you are:
4. STANDARD CONDOMINIUM PROPERTY INSURANCE
Property insurance is a policy that provides financial reimbursement and protection to the owner or renter of a condominium / villa and its contents, in the event of damage or theft. Property insurance may include homeowner’s insurance, renter’s insurance, contents insurance, flood insurance, hurricane/tornado insurance, and earthquake insurance.
5. LIABILITY INSURANCE
Liability insurance is protection from the risks of liabilities imposed by lawsuits and similar claims. It protects the insured in the event he or she is sued for claims that come within the coverage of the insurance policy. Liability insurance is designed to offer specific protection against third party insurance claims, for example, if someone slips and falls inside your condominium and injures themselves.
INFORMATION BROUGHT TO YOU BY: JENNY CONTRERAS & ASSOCIATES
YOUR TRUSTED INSURANCE BROKER IN BAVARO-PUNTA CANA-VERON SINCE 2010
Master Development Plan
With the highest views in all of Punta Cana, Los Sueños is the pinnacle of luxury in the entire area. Treat yourself to luxurious living with spectacular views of this tropical paradise!
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