Talk of The Villages Florida - View Single Post - Is Title Insurance a scam?
Thread: Is Title Insurance a scam?
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Old 07-13-2015, 09:36 AM
doti Browning doti Browning is offline
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Default Required "title insurance"
Quote:
Originally Posted by 784caroline View Post
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..

Some confusion here. these are 2 different insurances. Lenders have always required mortgage insurance. Title non insurance, as I call it, is separate.