Posted by Stacy (AZ) on January 17, 2000 at 12:16:50:
I’m not a title expert…hopefully Rob (FL) will reply. However, having a title search done in lieu of buying a title insurance policy leaves you “naked” should title problems surface that were not found with the title search. Now, opinions vary on how much protection you will buy with insurance, since title companies don’t like to pay on policy claims. But the consensus on this board seems to be that title insurance is highly recommended, and should be factored in as just the cost of doing business.
There was a post last week about someone who decided not to buy the policy, and had an unexpected title issue pop-up. Hindsight is always 20-20.