Posted by Stacy (AZ) on February 23, 2001 at 15:46:05:
Yes, I saw your prior reply, David. Very good. What gets me, though, is that those who do their own title searches and skip the insurance are taking a gamble that everything will show up in that title search. Jerry’s reply to JGoodsen’s post outlines what the actual policy covers. Many of those things, if they exist, could be missed in a title search.
Yes, the odds are that any given title will be fine. But, if I’m making $10K to $30K profit, on average, it is entirely worth it to me to insure this profit for the small cost (relatively speaking), from any unseen defects. I consider it a crap shoot to do less, and I try to avoid operating this way.
Further, I think those who operate continually without title insurance are on borrowed time. Again, it’s the unseen and inconspicuous that threatens.