 Title insurance on HUD? (by JamesD [CO]) Jan 27, 2009 3:56 PM
 Title insurance on HUD? (by Anon [CO]) Jan 27, 2009 4:13 PM
Title insurance on HUD? (by Mike [TX]) Jan 27, 2009 4:38 PM
Title insurance on HUD? (by Bill [TX]) Jan 27, 2009 4:46 PM
Title insurance on HUD? (by tyler [NC]) Jan 27, 2009 5:25 PM
Title insurance on HUD? (by Lee [PA]) Jan 27, 2009 8:04 PM
Title insurance on HUD? (by Brad [IN]) Jan 27, 2009 8:34 PM
Title insurance on HUD? (by nhsailmaker [NH]) Jan 28, 2009 4:32 AM
Title insurance on HUD? (by Jim [OH]) Jan 28, 2009 9:02 AM
Title insurance on HUD? (by JamesD [CO]) Jan 28, 2009 12:52 PM
Title insurance on HUD? (by shan [FL]) Jan 29, 2009 6:28 AM
Title insurance on HUD? (by JamesD [CO]) Posted on: Jan 27, 2009 3:56 PM
Message:
Getting ready to close on a HUD property in couple weeks. Wondering if we should pay $650+ for Title Insurance for the property... since it's a cash purchase there are no loan agencies making this mandatory, so it's up to us if we want it, and since it's HUD (apparently they don't pay for it) - we have to pay for it ourselves...
Since I'm not much of a risk taker we're leaning towards paying for it, but wanted to ask what you all do in such a case...
THanks,
James --98.245.xx.xx |
Title insurance on HUD? (by Anon [CO]) Posted on: Jan 27, 2009 4:13 PM
Message:
Since they are not paying, shop around also let the title co know you are shopping perhaps they have "overlooked" something and can get you a better rate. How much are you paying for the property? Let your fingers do the walking. Might be a bit careful as some folks have recently gone bankrupt. They are regulated by the insurance commission so you should be able to check them out online.
--75.160.xxx.xxx |
Title insurance on HUD? (by Mike [TX]) Posted on: Jan 27, 2009 4:38 PM
Message:
I have closed many huds, with cash. I am a cheap sob, but I always pay for the title insurance. Always 1 percent of the cost of the property. Keeps me sleeping at night... --205.188.xxx.xxx |
Title insurance on HUD? (by Bill [TX]) Posted on: Jan 27, 2009 4:46 PM
Message:
What Mike said. Rates in Texas are set by law. No reason to shop title insurance here. Most times, I do not bother with a survey, but I always buy title insurance.
Bill [TX]
--75.20.xxx.xx |
Title insurance on HUD? (by tyler [NC]) Posted on: Jan 27, 2009 5:25 PM
Message:
absolutely get title insurance....., it seem expensive though.... --75.181.xxx.xxx |
Title insurance on HUD? (by Lee [PA]) Posted on: Jan 27, 2009 8:04 PM
Message:
It seems expensive to me too. Could you have gotten a combined quote for both a lender's policy and owner's policy of title insurance? In the scenario you describe, you only need an owner's policy of title insurance. --76.161.xx.xxx |
Title insurance on HUD? (by Brad [IN]) Posted on: Jan 27, 2009 8:34 PM
Message:
I do the same as Bill. You would be nuts not to get title search/insurance. There could be liens against the property. Seems a tad high to me too, but from others responses it seems that it varies from state to state. --66.228.xxx.xxx |
Title insurance on HUD? (by nhsailmaker [NH]) Posted on: Jan 28, 2009 4:32 AM
Message:
This is a business. It would be a foolish business decision not to purchase the owner policy. As a former Title Ins. guy (many decades ago) I could spend all day telling you about various claims. There are problems out there you can not dream up. --75.68.xxx.xxx |
Title insurance on HUD? (by Jim [OH]) Posted on: Jan 28, 2009 9:02 AM
Message:
Get the title Insurance. --69.135.xxx.xxx |
Title insurance on HUD? (by JamesD [CO]) Posted on: Jan 28, 2009 12:52 PM
Message:
Yes - will do it. Thx all - --98.245.xx.xx |
Title insurance on HUD? (by shan [FL]) Posted on: Jan 29, 2009 6:28 AM
Message:
I've not done HUD deals but I have done VA deals in the past and every time the title insurance paid for itself in the form of "missed" liens/HOA fees etc... good investment in my opinino. --68.226.x.xxx |
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