There are plenty of stories out there about property seizures being done to owners with no mortgage. Sure, it's accidental, but it's best to pay now for the piece of mind later. Also, if you purchase without title insurance then sell, there could be additional expense as a sellers what with a gap in the chain of coverage. Sellers pay much more of the total title insurance burden than the buyer does. When you sell, that cost could be more than expected since the title insurance wasn't in place during the last transaction.
Title insurance is more than insuring the title and is a big part of delivering the title clean to the buyer. It offers protection to the buyer in the event that someone makes a claim to the property and from paying out on existing liens.
Investigate title insurance and the process of getting a clear title in a cash deal. Everyone has something to say and its best to validate the information.
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