What are the risks involved with not purchasing title insurance?

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jacquelene rivers, Currently studying the 120 hrs basic realtors cou (none)

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Rainmaker
2,759,812

TeamCHI - Complete Home Inspections, Inc.

Complete Home Inspections, Inc. - Brentwood, TN

Home Inspectons - Nashville, TN area - 615.661.029

Good Wednesday morning Jacqueline. I've heard of a lot of folks getting stuck for tens of thousands of dollars in tax liens from the prior owner.

Nov 03, 2015 05:18 PM

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Ambassador
6,418,172

Bob Crane

Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI

Forestland Experts! 715-204-9671

Leins, multiple owners, unclear title, and more.

Jan 19, 2019 11:01 PM

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Rainmaker
3,988,013

Debbie Reynolds, C21 Platinum Properties

Platinum Properties- (931)771-9070 - Clarksville, TN

The Dedicated Clarksville TN Realtor-(931)320-6730

If a title problem arises in the future the uninsured party will have to hire an attorney to sort out the problem. It can be very expensive.

Dec 25, 2016 07:02 PM

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Rainmaker
3,071,489

Tony and Suzanne Marriott, Associate Brokers

Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ

Haven Express @ Keller Williams Arizona Realty

risk of loss

Nov 12, 2016 08:03 PM

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Rainmaker
699,277

Chris and Dick Dovorany

Homes for Sale in Naples, Bonita Springs and Estero, Florida - Naples, FL

Broker/Associate at Premiere Plus Realty

Losing your entire investment.

Nov 04, 2015 09:39 AM

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Rainmaker
443,220

Cindy Davis

SD Home Source Realty - San Diego, CA

Here in California, it is not optional...it is mandatory if you want to sell your home.,

Nov 03, 2015 11:41 PM

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Rainmaker
921,504

Annette Lawrence , Palm Harbor, FL 727-420-4041

ReMax Realtec Group - Palm Harbor, FL

Making FLORIDA Real Estate EZ

The ultimate risk is someone else says they own or have control rights to all or part of the property and the new owner is on the hook?

Insurance is the assurance you are protected when others fail to do their job.

The list connected to your question is ENDLESS.

Nov 03, 2015 11:24 PM

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Rainmaker
1,466,257

Michael Setunsky

Woodbridge, VA

Your Commercial Real Estate Link to Northern VA

jacquelene rivers Lenders title insurance is mandatory for the loan. Owner's title insurance is optional. I once saw a buyer get stuck with a $10,000 mechanics lien when they wanted to sell three or four years after the initial purchase. Owner's title insurance is well worth the money.

Nov 03, 2015 11:00 PM

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Rainmaker
1,712,776

Joe Pryor

The Virtual Real Estate Team - Oklahoma City, OK

REALTOR® - Oklahoma Investment Properties

No real estate transaction closed at a title company in Oklahoma City is closed without title insurance. It is also an issue with liability for the title company who closes the contract.

Nov 03, 2015 09:15 PM

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Rainmaker
4,901,847

Richard Weeks

Dallas, TX

REALTOR®, Broker

Could be many problems down the road; however it is not going to happen unless the buyer pays cash.

Nov 03, 2015 09:00 PM

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Rainmaker
5,239,955

Wayne Martin

Wayne M Martin - Chicago, IL

Real Estate Broker - Retired

The risks can be many. Some think it is not worth it, but they have never incurred a claim!

Nov 03, 2015 07:51 PM

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Good Wednesday morning Jacqueline. I've heard of a lot of folks getting stuck for tens of thousands of dollars in tax liens from the prior owner.
If a title problem arises in the future the uninsured party will have to hire an attorney to sort out the problem. It can be very expensive.
Here in California, it is not optional...it is mandatory if you want to sell your home.,
The ultimate risk is someone else says they own or have control rights to all or part of the property and the new owner is on the hook?

Insurance is the assurance you are protected when others fail to do their job.

The list connected to your question is ENDLESS.
jacquelene rivers Lenders title insurance is mandatory for the loan. Owner's title insurance is optional. I once saw a buyer get stuck with a $10,000 mechanics lien when they wanted to sell three or four years after the initial purchase. Owner's title insurance is well worth the money.
No real estate transaction closed at a title company in Oklahoma City is closed without title insurance. It is also an issue with liability for the title company who closes the contract.
Could be many problems down the road; however it is not going to happen unless the buyer pays cash.
The risks can be many. Some think it is not worth it, but they have never incurred a claim!