Quote:
Originally Posted by dsnrbec
McLinn Burnsed said they would not close a transaction without it. Does anyone know of a settlement office that will?
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The only reason a law office or title company would not close a sale if you opted NOT to buy title insurance is because the
Lender requires it to cover their mortgage amount (NOTE: the mortgage amount - not the total amount of the sale. Otherwise if you are paying cash, they may make you sign a waiver that you were properly informed of the risks...so sign it then you are taking the risk.
Its a buyers concern not the sellers.
However that said, on a resale, it may be wise for the buyer to get it, but for a new home bought from the developer paying cash...I don't think it is necessary..