Do I Need Title Insurane Policy?

Just picked up my first Rehab. Talking to the attorney who did the title search... only about 5% of his closes result in the buyer purchasing the Title Policy. Sounds like he will be issuing an "opinion" to the lender, not a title insursnce policy.
For less then $200, is this cheap insurance?

House purchased from a family estate... been vacant for about 2 years.

Comments(2)

  • pushcart16th June, 2004

    I am curious on this too. With conventional financing a lender's title insurance policy is standard but my atty strongly recommended an owner's policy too. What has been everyone's experience?

  • commercialking16th June, 2004

    Get title insurance. It is relatively cheap and the potential losses extreemly high.

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