Spam prevention
Rainmaker
759,684
Peter Mohylsky. Beach Expert
PrimeSouth Properties - Santa Rosa Beach, FL
THE BEACH IS OPEN

I think it is foolish to do without but have ad several cash buyer decline the insurance. 

Oct 17, 2018 02:33 AM
Rainmaker
3,207,439
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

The cost of title insurance covers about 1 hour of lawyer fees if you dnt have it. MAny times mortgage discharges are missing and the infamous missing POC page when one mortgage company transfers a past mortgage to another bank 

Oct 17, 2018 05:57 AM
Rainmaker
1,415,189
Anthony Acosta - ALLATLANTACONDOS.COM
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

Title insurance is very important.  

When I get a buyer paying cash tell me they do not want to buy title insurance, I let an attorney explain to them why it's so important, 99.9% of the time, the buyer ends up purchasing title insurance.  

 

-Lenders require borrowers to purchase title insurance in order to fund the transaction. 

 

Oct 17, 2018 05:30 AM
Rainmaker
487,033
Dee Toohey
Innovative Realty Solutions Group - Longwood, FL
Broker, ABR, AHWD, CIPS, FMS, ePro

Recently, my buyer closed and went to the HOA office to get access for the gate.  The attorney who wrote the estoppel letter only wrote it for the smaller HOA for the community and not the master HOA.  He stated he was only asked for one so that's what he provided.  The Title agency that closed the file used the title insurance to get the Master estoppel and pay the fees because of the error. 

It was not a big financial loss but it could have been.  

Oct 17, 2018 03:58 AM
Rainmaker
3,563,469
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Very important... title insurance comes into play in eac and every transaction. No lender will fund a loan without title insurance in place.

Oct 17, 2018 03:38 AM
Rainmaker
3,287,554
James Dray
Fathom Realty - Bentonville, AR
Exceptional Agents, Outstanding Results

A property in our area will not close without it.  Never has came into play so far, at least with any of the properties I've sold

Oct 17, 2018 03:03 AM
Ambassador
1,706,758
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

Very, we don't close without it.

Oct 17, 2018 07:28 AM
Ambassador
2,491,368
Fred Griffin Tallahassee Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

Critical.

        I have had transactions where the Title Search was a show-stopper.  In one instance the Seller had to file suit for Quiet Title; numerous heirs had to be subpoenaed, it took about 6 months to get clear title.

Oct 17, 2018 06:41 AM
Rainmaker
1,937,593
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

Too big of a gamble not to get it

Oct 17, 2018 06:30 AM
Rainmaker
577,189
Gloria Valvasori, Accredited Senior Agent
BETTER HOMES AND GARDENS REAL ESTATE SIGNATURE SERVICE - Mississauga, ON
REAL Experience | REAL Commitment | REAL Results!

It is very important and every lawyer here recommends it to my clients. I rcommend it to all my clients and everyone should have it. It's a one time premium.  I had an occasion to use it, and I'm so glad they paid for the repair work that would have cost me $3,000

Oct 17, 2018 06:01 AM
Rainmaker
4,432,971
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Very.

Oct 17, 2018 05:08 AM
Rainmaker
3,570,463
Richard Weeks
Dallas, TX
REALTOR®, Broker

It is very important to have that warm fuzzy feeling you are purchasing a property with clear title. Yes title companies miss leans all the time.

Oct 17, 2018 04:27 AM
Ambassador
3,766,017
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

Never buy a home without it - it's that important! If a Title issue arises, the policy holder simply has to contact the Title company - they take care of hiring an attorney and they handle everything.

A homeowners' loss is protected up to the amount on the Title policy.

Oct 17, 2018 12:16 AM
Rainmaker
1,315,892
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

Had to use it once when the prior escrow forgot to pay the property taxes.

Oct 17, 2018 04:49 PM
Rainmaker
478,228
Lynnea Miller
Bend Premier Real Estate - Bend, OR
Premier Real Estate Service in Central Oregon

Yes. During the recession, we had a number of REOs hit the market under different levels of construction or remodeling. We recommended our buyers purchase extended coverage for mechanics liens for these. One case our buyer did - and found after closing there was a $12,000 lien. His $200 spent for the extended coverage was well worth it!

Oct 17, 2018 03:34 PM
Rainmaker
1,526,418
Valeria Mola
SIB Realty - Miami, Sunny Isles Beach - Sunny Isles Beach, FL
305-607-0709 SIB Realty Condos for Sale and Rent

Very

Oct 17, 2018 02:55 PM
Rainmaker
1,991,606
Evelina Tsigelnitskaya
SIB Realty - Sunny Isles Beach, FL
www.SIBRealty.org 305-931-6931

Very.

Oct 17, 2018 02:43 PM
Rainmaker
551,272
Hella M. Rothwell, Broker/Realtor®
Carmel by the Sea, CA
Rothwell Realty Inc. CA#01968433 Carmel-by-the-Sea

Yes. Involving an incorrect legal description at the tax office.

Oct 17, 2018 02:27 PM
Rainmaker
510,224
Dan Tabit
Keller Williams Bellevue - Sammamish, WA

You can't get a loan without it and a buyer shouldn't close without it.  It always comes into play, it's an expense, albeit a minor one. 

Oct 17, 2018 11:52 AM
Rainmaker
3,729,948
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Very important.  Accentuate the positive in life and in real estate. 

Oct 17, 2018 07:31 AM
Rainmaker
5,001,825
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Very

Oct 17, 2018 07:00 AM
Rainmaker
1,101,383
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

Are you about ready to take your test?  It has been awhile since you joined the QA group.....

 

Oct 17, 2018 06:59 AM
Rainmaker
4,798,978
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

I have not.

Oct 17, 2018 06:56 AM
Rainmaker
3,707,518
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Yes, once. The title company spent more money on advertising then they did to satisfy the claim!

Oct 17, 2018 06:44 AM
Rainmaker
1,763,557
Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co. Notary Services, retired Realtor

#1) Very

#2) Yes

The most common thing I see is where the Seller lost, misplaced, or never even had the original abstract.

Oct 17, 2018 06:14 AM
Ambassador
4,840,676
Bob Crane
Woodland Management Service / Woodland Real Estate, Keller Williams Fox Cities - Stevens Point, WI
Forestland Experts! 715-204-9671

Have had a few occasions when it was very important.

Oct 17, 2018 02:40 AM
Rainer
20,325
Romylio "Romeo" Cordoba - NSB Realtor
Adams Cameron and Co. Realtors - New Smyrna Beach, FL
Daytona Beach Real Estate Agent

Never been in a situation where my buyer wasn't getting it.

Oct 17, 2018 12:54 AM
Rainmaker
897,408
Doug Dawes
Keller Williams Realty - Topsfield, MA - Georgetown, MA
Your Personal Realtor®

I believe it should be mandatory. AND yes I have been involved in a couple of transactions where title issues have been uncovered that title insurance covered

Oct 18, 2018 04:36 AM
Rainmaker
5,975,228
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

I would not purchase a property without title insurance.

Oct 17, 2018 10:13 AM
Rainmaker
1,076,475
Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets
Big Block Realty 858.232.8722 - La Jolla, CA
& Host of Postcards From Success Podcast

It's essential.

Oct 17, 2018 08:28 AM
Rainmaker
2,902,215
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate

It is very important - there is a reason it is called "insurance". 
I wish you all the best with your studies and with your real estate career. 

Oct 17, 2018 07:43 AM
Ambassador
2,973,231
Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

Essential, I wouldn't own property without it except under unique circumstances... Like buying a lot that I plan to build on in a couple of years. Will wait to buy until I build.

Oct 17, 2018 09:43 AM
Rainmaker
4,440,339
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Severely important.

Oct 21, 2018 07:01 AM
Rainmaker
596,899
Tony Lewis
RE/MAX of Valencia (Hall of Fame) 30 year Valencia Resident - Valencia, CA
Summit Real Estate Santa Clarita & OC Laguna Nigel

Many times over the past 22 years of my career.  Liens, other owners on title, deed restrictions and others.

Oct 19, 2018 04:18 PM
Rainmaker
3,530,026
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Lucky, never had a problem.

 

Oct 19, 2018 10:25 AM