Quote:
Originally Posted by graciegirl
We paid cash twice, for a new home and the closing costs were paid by the developer.
We opted NOT to have a title search which would have been a charge to us..
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Gracie, when I purchased my new home in TV for cash, I too opted out of the title search on my new home. My thinking was that the Developer had done a title search, when he purchased all of the land he was developing & building on . Certainly he checked everything out and had clear title before he sold these homes. I felt in this instance, that paying for a title search was not necessary.You and Sweetie may have been thinking along these same lines.
Seven (7) months later, I had a rude awakening, when I went it to sign the paperwork for closing. I was informed that I had to purchase title insurance in order to sell my villa to the new owners. I argued with them regarding this to no avail & ended up paying for it. So if you don't pay it when you purchase, you will pay it when you sell. At least, this was my experience. Anyone is welcome to call the closing office and check on this for themselves.
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