Tuesday, October 02, 2007

query: title insurance in a cash deal

You better believe it! Whose got the most to lose if there's a title problem? YOU, you alone, so why the heck wouldn't you cover those hard earned dollars with a one time premium for title insurance?

I'm always thunderstruck when a cash buyer skips title insurance because nobody is forcing him to buy it.

Mortgage lenders force borrowers to buy loan policies because they KNOW it's the smart and prudent thing to do.

Yes, I know, there's a bunch of stupid lenders out there in the news, but trust me, the smart ones require title insurance.

1 comment:

Peggy said...

Its bad enough a Cash Purchaser dosn't purchase Title Insurance but the ones who do a Sale & Mortgage simultanously and do not purchase Insurance boggles the mind. So far I have been lucky in persuading most that this onetime investment is the smart way to go. I am an abstractor did the research myself on my property. found nothing amiss and yes I did purchase an owners Policy. I point this fact out and tell this story of defense where a policyholder had to defend title against a person who absolutely had no interest in the property, i point out that while the person who claimed an ownership interest had no rights there was still the matter of legal fees to defend them. As we all know your policy costs pale in comparison to legal fees.