Well I can't speak to your personal experience but it either smells like BS or some type of illegal business practice. We close cash deals all the time where no owner's policy is purchased. We do our job thoroughly as we always do, and simply warn Buyers of the potential disastrous consequences. We have liability in everything that we do as attorneys, that doesn't change with or without an Owner's Policy. Long story short, your anger is missplaced and you paint with far too broad a brush. I see that I won't convince you of anything, and I have work to get back to. I hope you have better experiences in the future.

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Posted by billjamin

Houston

Member since Jun 2019

12857 posts

Posted on 11/1/23 at 10:49 am to bricksandstones

quote:
Well I can't speak to your personal experience but it either smells like BS or some type of illegal business practice.

All the big title companies in Houston wouldn't do it. Our lender (morgan stanley) didn't GAF because it wasn't a traditional loan.

quote:
your anger is missplaced and you paint with far too broad a brush

To be clear, i'm fine paying a title company to do their job. I'm fine with knowing they bake in malpractice insurance. A step to far is charging me for all that, then saying "well i really don't know WTF is going on so you better take out this policy"

quote:
I see that I won't convince you of anything

It worked out fine for me in the end. It's just an irritating practice and one more way you get nickle and dimed to death trying to buy a house. Too many people riding those coat tails and it's been out of control for too long.

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