[Challenger]

Originally Posted by villager

To clarify, the contractor's affidavit signed by all who worked on your new home is entirely separate from title insurance. All the contractors are signing is a form saying they have been paid for their work. Apples and Oranges to title insurance.

The warranty deed you receive at closing from The Villages gives you clear title to the property up to the time of closing, based on all information The Villages has at the time of closing. If someone comes forward the NEXT day and says they have an interest in your property, you have NO recourse back to The Villages. Note, I said up to the time of closing you are covered. The Villages doesn't have that crystal ball to know what could happen in the future and will not guarantee future events. Would you? Be reasonable. And, TAKE THE VILLAGES OUT OF THE EQUATION! They are no different than any other developer, while everyone may think they are. Title insurance is like any insurance, you are glad you have it if/when you need it. The cost of defending your title is VERY expensive and title insurance will pay for all attorney's fees and any restitution needed to be paid. Title insurance covers any human errors (I'm sure we've all encountered human error in business at least once), covers if someone's property was not probated properly and a claim is made, covers if someone signed a document regarding the property and didn't have the right to do so, and many, many, many other circumstances. Title insurance covers the time from the first owner of the property up to you. Sorry to ramble, but I've been in the lending industry waaayyyyy too long and have seen too many instances of title issues that were a complete surprise to the owner. Make a wise decision and purchase the title insurance! After all, why wouldn't you want to protect one of the biggest assets you own - your house! The insurance commissioner for the state of Florida sets the price for the title insurance - no attorneys, developers, sales agents, etc. This is not the time to be cheap. You'll spend more on that new TV and sound system than your title insurance will cost. And, no, I do not own, work for, or have any financial interest in a title company.

Well written and factual. I also have been in the real estate lending business for more than 50 years and would not ignor the oppurtunity to purchase buyers insurance.