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re: Real estate attorneys: is title insurance needed?
Posted on 1/16/14 at 8:49 pm to Mr.Perfect
Posted on 1/16/14 at 8:49 pm to Mr.Perfect
Thanks. I understand that.
So, since it's the title attorney selling the insurance and collecting a pretty hefty commission for doing do, isn't he telling you to buy the insurance in case he screwed up and missed something when he did the title search?
How is that not a conflict of interest?
So, since it's the title attorney selling the insurance and collecting a pretty hefty commission for doing do, isn't he telling you to buy the insurance in case he screwed up and missed something when he did the title search?
How is that not a conflict of interest?
2
Posted on 1/16/14 at 8:50 pm to LSURussian
I'm intrigued. I hope others comment
Posted on 1/16/14 at 9:50 pm to LSURussian
quote:
So, since it's the title attorney selling the insurance and collecting a pretty hefty commission for doing do, isn't he telling you to buy the insurance in case he screwed up and missed something when he did the title search?
When you buy owner's and lender's together its a couple hundred more on most residential transactions. I know some title attorney's who prefer not to deal with the idea that prescription has been extended for the life of ownership. The insurance companies will come calling the title attorney if the mess up is a big one anyway.
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