Why You Need Title Insurance
A scenario we often hear about starts with a party who encourages the buyer (or seller) to “Save some money” and “handle it outside of escrow”
Sometimes the buyer even gives money up front to hold the house, with no contract, no assurances.
These people often lose their money, and it’s not just because the seller takes it and runs. It’s usually because there were encumbrances against the property, either undisclosed debt like an old loan, or unpaid assessments, or utilities.
Sometimes even the seller doesn’t know.
Usually they do and pretend they don’t, but sometimes they have been the victim of a bad deal, too and it comes to light when they try to sell.
A small cost for the ability to keep your title, and all the possible defects, out of site and out of mind, is well worth the investment.