Optional Title Insurance?

[Presley Senior Member Find all posts View Profile Close Presley]

Several of the listings I have been looking at have optional title insurance. What is the point of it and why is it optional?

[rikkis_playpen Diamond Club Contributor Find all posts View Profile Close rikkis_playpen]

Click HERE for basic info about what title insurance is and what benefits it gives you during and after your closing.

What you will need to do is determine if the cost of the policy is worth the benefit. The policy is generally written for the sale price. If you are buying a cheap liquidation timeshare, you may want to consider just ordering a title search or title report without the policy.

Prices will vary by state and sale price. In Florida, $100. is reasonable for most properties priced at $7,500 or less. Be sure not to confuse title insurance with the title search process or the estoppels process.

If your closing agent cannot properly explain the different options you have- perhaps choosing another closing agent might be beneficial.

[Presley Senior Member Find all posts View Profile Close Presley]

Thanks.

[tonyg Goomba & Super Moderator Find all posts View Profile Close tonyg]

Paying $ 100 for title insurance on a property worth $ 100 or less is pointless and wasteful, so a decision really needs to take into effect what the property is worth.