If the buyer of a new home winds up with a defect in their deed, there are also probably hundreds, perhaps thousands, of others who will have the same defect since The Villages buys large tracks of land to build on. That would be a mess and probably make national headlines. I agree that buying title insurance for a resale is a good idea.
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Originally Posted by mikemalloy
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.
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