Title Insurance

H

HIRAM

Member
Mar 19, 2005
162
0
16
Dear All,
Sorry about my English, this language is only my 3rd language.

I have a question about title insurance: my spouse and I we want to buy an apartment. The project will be launched soon buy the developers.

Do you think in this case (the apartment has to be constructed) that title insurance is necessary, and if so, I have to contact the title insurance company or it will be handled directly by our notary?

Thank you so much for your help !

Hiram
 
M

mido

Bronze
May 18, 2002
1,522
14
38
HIRAM said:
Dear All,
Sorry about my English, this language is only my 3rd language.

I have a question about title insurance: my spouse and I we want to buy an apartment. The project will be launched soon buy the developers.

Do you think in this case (the apartment has to be constructed) that title insurance is necessary, and if so, I have to contact the title insurance company or it will be handled directly by our notary?

Thank you so much for your help !

Hiram
Click to expand...

It is not title insurance which is that important but an escrow account where the money is held until you get what you pay for.
 
H

HIRAM

Member
Mar 19, 2005
162
0
16
mido said:
It is not title insurance which is that important but an escrow account where the money is held until you get what you pay for.
Click to expand...
OK, thank you, I have to contact my notary or stewart insurance company for escrow services ?

Thank you for your time !
Hiram
 
C

Camden Tom

Bronze
Dec 1, 2002
736
39
0
It does slow down the process, but....

....as a real estate broker of 30+ years, I find much added comfort in haveing title insurance. I just closed on a piece of land last week and it took the better part of a year to get it closed, mostly because of our insistence of getting TI. Most people down there don't bother with TI but I've also heard some real horror stories about people having their property taken away after believing they owned it.
 
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