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Originally Posted by melpetezrinski
Went back to the closing statements of both of the patio villas the I bought and sold within the last three years and the seller paid for title insurance.
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If you get a mortgage, the bank requires a title insurance policy to protect their interest. But, the buyer does not need to buy a title insurance policy. It is optional. As a buyer, I have always purchased a title insurance policy to protect my interest in the property. I always paid for it. You can negotiate anything with the seller, but in Florida, the title insurance is an optional purchase. Some states have different rules. The seller always pays for a title search to ensure they are conveying a clear title. This is not the same thing as a title insurance policy. A title insurance policy lasts forever and guarantees that the property cannot be seized by someone claiming to own the property. As a seller, I would never agree to pay for the buyer's title insurance policy because it does nothing to protect me. Also, the buyer can buy the insurance policy from any company they choose. They don't even need to buy it at the closing.