Quote:
Originally Posted by Deadhead
Buy OWNERS title insurance. One time $ and never look back. Best insurance you can ever purchase. This is especially true after the run and gun period we have just gone through. There was a lot of sloppy title work done during the boom, and there were a ton of scams. Beyond that a TON of notes have been lost forever by banks and institutions who sold loans and the paperwork was never transferred, lost in business closures etc. etc., etc. We owned a company that did tens of thousands of real estate transactions. I have seen some crazy stuff sanctioned by the biggest insurers in the business, so I can only imagine what happened at the other end of the scale.
Owners title insurance is an option. Only lenders title insurance is required, and it only protects the bank.
Buy OWNERS title insurance.
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After saying how much sloppy title work was done along with forclosures and all the other negative stuff you mention, why would recommend someone Not to use an an attorney? And then recommend get lenders title insurance only, which only protects the lender and not the owner. No offense but that's bad advice.
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