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re: In Landmark decision, Jury Finds Realtors Conspired to inflate Commissions|$1.8 B verdict
Posted on 10/31/23 at 7:33 pm to Roll Tide Ravens
Posted on 10/31/23 at 7:33 pm to Roll Tide Ravens
quote:
And when the property has all sort of title issues that need to be solved, who finds a solution for those?
Why do I have to pay them for a service and also buy insurance for them fricking up? Makes zero sense.
1
Posted on 11/1/23 at 11:36 am to billjamin
quote:
Why do I have to pay them for a service and also buy insurance for them fricking up? Makes zero sense.
Because those charges are for different things. All or most of the fee for the title insurance is going to whoever the title insurance provider is, not the closing attorney. Depending on how things are structured with the closing attorney, most of the fees probably aren’t going to them other than just their settlement/closing fee and the fee for preparing the deed.
Also, you are absolutely free to not get an owner’s policy if you don’t want it. A property’s title can be very complex sometimes, so even if a title company/closing attorney does their due diligence, it is possible for something to be missed in the title search.
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