Your best scenario is if the defendant doesn't respond within the five day time frame from date of service.

- Well... maybe a year or two from now under an alias name, yet again defending his 'good name' with a different company.

So your area and how courts find liability will have a great impact on what you should carry.1 miilion is usually enough, IMO for beginning investors and it's not much more than 500K.Remember, if your libaility limit is too low, your insurance company can simply pay the amount and walk away leaving you to defend yourself.

Dual agency- having both the buyer and seller represented by the same agent- I have often heard compared to going to court and having the same attorney represent both the plaintiff and the defendant.

In Michigan one can appeal a small claims court decision if they would like and there aren't even any court costs if you are the defendant.

The insurance company also will have to legally defend you which is above and beyond the limits.

The assignment is a gray area of the law- since it can be argued that you will be selling a piece of paper - not the house - but I would not want to be the defending that position in court.

I'm going to defend Chicagoland again...at least until I move to TX, TN or something. :)The market as a whole here is great. 

Historically, everything would go to that seller before they defended title.

I search by date and the list shows me plaintiff, defendant, and type of hearing.