Quote:
Originally Posted by djlnc
We're purchasing a house in the Village of Richmond. Seems to me there is virtually no risk of some sort of previous claim against the property. Don't want to waste $1500.
|
OK my 2 cents. I'd pay for title insurance for myself if I was buying a home from a prior owner of the home. However, here, I've bought 2 new homes from the owner ie. The Villages. If there is something wrong with the title to my house, I'll sue TV since they gave a warranty deed and I'll be entitled to my attorney's fees.
What's even more frustrating is getting a mortgage through Citizen's First bank and them requiring title insurance. What they are in effect making you do is insure that they (The Villages) gave you a valid unencumbered title. That way they don't get sued by you you just put in a claim on the insurance they made you buy. Rip off.