Quote:
Originally Posted by Opulence
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.
Betty
Betty
Betty
|
Did the buyers of your property have a loan? Usually the lending institution requires it. When we sold our house in Hadley, the buyers had to have title insurance, their lenders wanted to be sure that their money was insured ,because we
could have incurred a lien I guess. I don't know, but they paid it. The buyers.
Who pays what is often different from the state we left behind.