[Boomer]

AAAAAUGH!!! It makes me crazy when I hear people say that cash buyers do not need title insurance.....

There are two kinds of title insurance. Lender's title insurance covers the bank for the amount of the mortgage. Of course, a bank requires it of the borrower. But as the mortgage amortizes, the bank's interest becomes less and less.

BUT.....Owner's title insurance covers the buyer for the entire amount paid for the house and stays with the buyer throughout ownership of the insured property.

The reason it makes me crazy when people say cash buyers do not need title insurance is because.....Hellooooooo, when you are buying a house for cash YOU are the bank. I would be protecting my investment in the house, just like a bank would do.

So anyway, if you do not want to buy owners title insurance because you are a cash buyer who is willing to assume total risk for your investment in your house, that is your prerogative. But please, please, please stop telling people that cash buyers do not need title insurance.

Give a Google to Owners Title Insurance and do a little reading. The cost of sleep varies.

(Full disclosure: I am speaking of title insurance in general, nothing specifically about Florida or TV. I know that who pays what where can be different from state to state. And I am not a lawyer. My rant is about advice that might not be so good. Something as simple as a typo in an old deed or an old mortgage that was not released, like happens sometimes with family mortgages, could have the power to bring down the house if it shows up years later and people cannot be found to sign affidavits and quit claims and such. Oh My!)