Is Title Insurance really needed? - Posted by Steve R -VT

import · March 11, 2002, 10:52pm

Posted by Rob FL on March 13, 2002 at 09:38:20:

On any other transaction I always get title insurance, because at least in Florida, the custom is and the standard contracts state that the seller will pay for a policy.

import · March 11, 2002, 10:52pm

Posted by Steve R -VT on March 11, 2002 at 23:52:19:

Is title insurance a waste of $$$ ?

import · March 13, 2002, 9:08am

Re: Is Title Insurance really needed? - Posted by SuperCat (IL, KY)

Posted by SuperCat (IL, KY) on March 13, 2002 at 10:08:26:

I have bought over 300 properties in the past year and I have not purfchased title insurance on any of them. I have self-insured the title to my sellers, but one has requested a policy and he is paying for it. Before y’all get too worked up, realize I am dealing with vacant lots. I would never buy a house without title insurance, but title insurannce on all of my properties would be more thasn I pay for the properties themself.

import · March 13, 2002, 7:46am

Re: Is Title Insurance really needed? - Posted by Rob FL

Posted by Rob FL on March 13, 2002 at 08:46:58:

I’ve bought “subject to” properties without title insurance, but I always at least have a title search performed. If I am uncomfortable about anything in the title search then I buy the insurance. If not, then I don’t. Of course I worked for over a decade with a title insurance company examining titles so I feel comfortable doing this.

import · March 12, 2002, 5:38pm

Thanks guys! - Posted by Steve R-VT

Posted by Steve R-VT on March 12, 2002 at 18:38:02:

thanks

import · March 12, 2002, 12:44pm

Re: Is Title Insurance really needed? - Posted by JoeS

Posted by JoeS on March 12, 2002 at 13:44:02:

Never buy a property without doing a Title search, and/or a Title policy.

import · March 12, 2002, 8:07am

Re: Is Title Insurance really needed? - Posted by JT-IN

Posted by JT-IN on March 12, 2002 at 09:07:43:

Steve:

Do you buy homeowners insurance…? If so, why? The answer is obvious.

The scenario and purpose for title insurance is no different. If you have enough in the way of assets, you could self insure… but if you don’t, your ass-sets in trouble, should you need the insurance… and not have it.

But you will have to decide, of course.

JT-IN

import · March 11, 2002, 11:09pm

You tell me, Alex . . . - Posted by JoeKaiser

Posted by JoeKaiser on March 12, 2002 at 24:09:54:

And the Answer is: House in Tucson, partner miscommunitation, no title insurance.

Question: How did Joe lose $22.5k in Arizona last year?

Ugh.

Steve . . . I’m guessing $22.5 buys title insurance for my next three dozen deals. All things considered, that’s cheap.

import · March 11, 2002, 11:04pm

Re: Is Title Insurance really needed? - Posted by GL(ON)

Posted by GL(ON) on March 12, 2002 at 24:04:00:

On 9 properties out of 10 it is a waste of money. The trouble is you never know which ones.

I envy people who can get title insurance. Here lawyers handle conveyancing not title companies. It takes 3 times as long, costs 4 times as much, and we get no insurance.