Would you buy title insurance

[Codewiz]

Well just an FYI. Purchased my house yesterday. My realtor agent had ASSUMED that the lawyer had not included Title insurance for myself in the closing cost amount he gave me. Here is what ended up happening. The sellers paid $4500 towards closing. Ends up that the seller had paid all my costs for lender title insurance and buyer title insurance.

I wasn't going to have them rewrite any paperwork. I honestly think there is a 1 in a billion chance on this house it could ever be needed. The house is 13 years old with original owners. Nothing is going to happen.

 

[Mill]

Originally posted by: Codewiz
Well just an FYI. Purchased my house yesterday. My realtor agent had ASSUMED that the lawyer had not included Title insurance for myself in the closing cost amount he gave me. Here is what ended up happening. The sellers paid $4500 towards closing. Ends up that the seller had paid all my costs for lender title insurance and buyer title insurance.

I wasn't going to have them rewrite any paperwork. I honestly think there is a 1 in a billion chance on this house it could ever be needed. The house is 13 years old with original owners. Nothing is going to happen.

Taking that much of a risk over 100 dollars. I'm glad they had already paid for it, because I find it silly to be that risky. I'm a betting man -- I bet on football, basketball, and baseball, but I'd never buy a house without having title insurance.

 

[tami]

Originally posted by: Papagayo

Originally posted by: Codewiz
Closing on a house in about an hour. It was built in 1991. We are buying it from the original owners. The house is in a subdivision.

I don't see any reason to spend $100 on title insurance. It isn't like the house has had 10 owners.

Would you buy it? A lawyer friend of mine said he has NEVER seen it used but of course he recommends it to everyone(of course he does since he makes money off of it).

$100 dollars? That's a steal..

wrong section. this should be in the HOT DEALS forum. 😛