Quote:
Originally Posted by Velvet
Google:
In Florida, an Owner's Title Insurance Policy is typically paid for by the seller, however, these fees can be negotiated in a sales contract. If the seller pays for the owner's title policy it is also typical for the seller to select the title agency.
When I, Velvet, bought my house the seller paid title insurance (resale home) which says they are in position to sell their house in the first place. They chose the agency, Freedom Title. I chose not to have buyer’s title insurance. But I had no mortgage. I’ll get my title insurance when I am selling.
If you are being pushed to do these things be prepared to walk away. It’s your money. You decide what you pay for. There are so many similar homes in TV you’ll find another one, or a better one.
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I think you are confusing title "insurance" with a title "search". A buyer's title insurance policy is a lifetime policy that will protect the buyer/owner for as long as he/she owns the property. You can make a claim against the policy years after you bought the property. But, if the title company who handles the closing makes a mistake and doesn't deliver a clear title to you, your only recourse is to sue them, if you don't buy a title insurance policy. But the insurance policy is optional, and some buyers do not buy a policy. But who pays for it on the settlement papers is irrelevant. As a seller, I would never agree to pay for the buyer's title insurance.