g*******s
发帖数: 2828 | 1 curious whether people buy owner's title insurance. i am leaning towards
skipping it.
i know there are always unforseen risks and most people want peace of mind
on the house, but
1) lender title insurance is mandatory, so presumably a title search is
performed already, greatly reducing the % of risk
2) title insurance companies pay out 5% of premium in actual losses. Even
when problems occur, it is most often clerical error and doesn't take much $
to fix.
3) Closing attorney gets a 80% cut on the premium.
I just feel this is a huge rip-off, and the $ is fairly significant (even
though it is small compared to the house).
love to hear how other home buyers think. | G**P
发帖数: 369 | 2 Easy decision, depends on what you want:
1. If you want save money and think this is a huge rip-off, don't buy it.
Save the money in your pocket.
2. If you want a piece of mind, buy it.
Is that simple?
As far as I know, most of the home owner will buy it. | g*****c
发帖数: 4378 | | m*****g
发帖数: 691 | 4 If you are buying a foreclosed home (or the similar kind), buy the extra
insurance.
$
【在 g*******s 的大作中提到】
: curious whether people buy owner's title insurance. i am leaning towards
: skipping it.
: i know there are always unforseen risks and most people want peace of mind
: on the house, but
: 1) lender title insurance is mandatory, so presumably a title search is
: performed already, greatly reducing the % of risk
: 2) title insurance companies pay out 5% of premium in actual losses. Even
: when problems occur, it is most often clerical error and doesn't take much $
: to fix.
: 3) Closing attorney gets a 80% cut on the premium.
| y***n
发帖数: 6764 | 5 但是一般不也都cover掉了？
【在 g*****c 的大作中提到】
: 如果贷款的话,借钱部分银行强制你买了
| y***n
发帖数: 6764 | 6 我有个朋友就没买，他说他当时也纠结不想买，后来他的一个朋友正好住一个town的也
没买，而且据说他们这个town的title管理比较严密。
这个piece of mind就是bull,本来人生就有数不尽的烦恼，多一件事毛毛雨。
$
【在 g*******s 的大作中提到】
: curious whether people buy owner's title insurance. i am leaning towards
: skipping it.
: i know there are always unforseen risks and most people want peace of mind
: on the house, but
: 1) lender title insurance is mandatory, so presumably a title search is
: performed already, greatly reducing the % of risk
: 2) title insurance companies pay out 5% of premium in actual losses. Even
: when problems occur, it is most often clerical error and doesn't take much $
: to fix.
: 3) Closing attorney gets a 80% cut on the premium.
| w**1
发帖数: 1014 | 7 I bought it, but felt stupid about buying before & during & after.
If your house has gone through a relatively recent transaction, that should
reduce the ‘risk’ even more.
$
【在 g*******s 的大作中提到】
: curious whether people buy owner's title insurance. i am leaning towards
: skipping it.
: i know there are always unforseen risks and most people want peace of mind
: on the house, but
: 1) lender title insurance is mandatory, so presumably a title search is
: performed already, greatly reducing the % of risk
: 2) title insurance companies pay out 5% of premium in actual losses. Even
: when problems occur, it is most often clerical error and doesn't take much $
: to fix.
: 3) Closing attorney gets a 80% cut on the premium.
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