Quote:
Originally Posted by Spectreron
Jimbo, the price of the home is under $400,000.
I really just wanted to know if owners title insurance was really needed since the land is from the builder and we all know he had his ducks in a row when he purchased the land.
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Owners title ins is a scam. If you borrowed, usually the lender requires you to get the lender's ins. The lender's ins covers the amt of the mort. The owner's covers the rest. I have bought and sold 15 properties in my lifetime and never opted for the owner's ins.
If I recall the language in the insurance is slanted against the owner as well. Kind of like when you get a termite inspection and it says if there were termites where they didn't look, they're not responsible. What a deal.