As a commercial title examiner, it was great to see this kind of video. People honestly have no idea what I do when I tell them about my job and they have no idea just how many issues, even simple ones, can arise from doing a simple title search.

Title insurance is a must. It’s like going through a title with a fine tooth comb. Best analogy I’ve heard.

That $50 buck policy in Kentucky is going to be $1500 with my next residential transaction, in addition to the $619 for the lenders policy. Where do you get an owner’s policy for $50?

Yes. When I paid cash for my house, I definitely got it.

I've always felt that title insurance was a scam because I am already paying the title company to do a search. But they way you explain it Dave, it makes sense. Great video!

Short answer: Yes Long Answer: YEEEEEEEEEEEEEEES!

My friend's dad had this and it covered a situation where the legal description on the deed was wrong and the buyer found out when he had his surveyor look at the property.

Just bought a house past Wednesday! Paid title insurance for only$600!!! It's a no brainier!!!

My agent JUST explained to me what this was 30 mins ago. Talk about convenient video timing.

A friend of my moms bought a foreclosure and boom, three years later she gets sued by a bank for it. Thankfully she had a title insurance policy.

Its also the lawyers job to check the title and ensure its transferable

*Very informative video I've never heard of title insurance* 💪

I didnt even know this existed... great explanation!

Thank you!!! Every Title Processor every where

For the cost, it's silly not to use the title insurance. People can make mistakes when researching liens etc.

I learned about this from his Financial Peace class. It was as right on time for my refinancing.

The insurance is necessary, but how do consumers know if we're being ripped off on the fees?

Thanks Dave! Quick question with a direct, reliable answer.

I had one where apparently previous owner husband had an affair forty years ago. Half sibling entered picture....had been sold twice in the meantime. It all ended up working out, but took a month of stress.

I am having that same problem right now and have to call up my title insurance company.

Do your own search and file a p proper land claim. No one files a proper land claim anymore because of the reliance on title insurance.

New to me, thank you

Thank you Dave!!!

Important to note you still need lender title insurance even if your refinancing with the same lender or it's your first mortgage for the property. He is mostly talking about owners title insurance, which is only necessary if you are buying a property initially.

"Get title insurance. Period!!" Maybe except if you are wholesaling, then you make you end buyer pay for it. Don't be cheap on this. Simply not worth the risk of not having it.

Thank you for clearing this up!

Years ago when I bought my property the title insurance company found a problem. The owner had sign over the title to a brother in law for collateral for a loan and he sign it back to her when she paid him. Well some one with his extract name had a judgement against them. The title insurance company made the in-law with his lawyer fill out and file the papers at the court house that he was not that person with the judgement. I paid a couple of hundred dollars for this insurance. Can you imagine straitening this out now 40 years later if I want to sell ?

I just don't agree on paying for the Title Insurance if the home your buying currently has Title Insurance and you have the seller call and confirm and provide a written confirmation signed and dated from the Title insurance company. Otherwise, your paying a company to look up a verified clean title again for no reason. The title company will have on record how many years back, most do 60 years, history search on file. Get a copy of that and your good to go. It's 3,000 dollars you can save in my opinion.

Great information!!!

Thank you Dave for the clear understanding! 😊

My Title Insurance was $200 at Alabama, but I didn't get loans. I saved money and used a Cashiers Check through a Title Insurance company. I received a copy of a Warranty Deed. Then I went to the tax Commision office to have my deed recorded.

Your full of prunes. Title company's are a rip-off. Going through a lawyer is better. Title company's are never held accountable or responsible for their search which I pay a lot of money for. They over charge and take for ever.

So one thing he is saying is that if you have paid off your mortgage, there is most likely no title insurance on the property. It went away with the mortgage. I don't even recall ever being asked if I wanted my own policy when buying property...

Never heard of it but now going to google it and get it. Thanks Dave

Illinois lender title insured $1,700.00 Owner title insurance $1,890.00 Is not cheap at all bcz buyer pay for plus downpayment and many other feeeeesssssssssssssssssssss I think is very cheap pay for a tent and sleep on sidewalk

How to shop for title insurance?

what if my lawyer done all process in NY?

Question: I keep seeing ads for services claiming to protect people from home title fraud or deed theft. Is this even a prevalent problem? Is there an easy way for me to confirm that my title is clean rather than paying for a service? Answer: In 2008, the FBI identified “house stealing” as the “latest scam on the block.” Since then, it has popped up periodically in cities such as Chicago, Dallas, Detroit, Los Angeles, New York City and Philadelphia. Is it a growing problem? That’s hard to know because the FBI doesn’t break it out separately in its crime statistics. The American Land Title Association doesn’t have data on the problem, either. “I suspect that companies that offer title-monitoring service use that [the claim] as a marketing strategy,” says Jeremy Yohe, vice president of communications at the association. 13 Tax Breaks for Homeowners and Home Buyers The scheme works like this: Fraudsters pick out a house-often a second home, rental, vacation home or vacant house-to “steal.” Using personal information gleaned from the internet or elsewhere, they assume your identity or claim to represent you. Armed with forged signatures and fake IDs, they file paperwork with the county’s register of deeds to transfer ownership of your property to themselves or a third party. They then sell the home or borrow against it, stealing your equity. When they fail to make payments on a loan secured by your property, you could end up in foreclosure or be unable to sell, refinance or pass the home on to heirs. Advertisement - Article continues below Home Title Lock is one of the services that says it will monitor your home’s deed 24/7 to prevent title fraud; it costs $15 a month ($150 annually, two years for $298). But you can protect yourself-for free-by periodically checking your property record on the website of your county’s register of deeds. Look for deeds that you or your attorney didn’t prepare or sign, or loans you didn’t take out, as well as liens of contractors, subcontractors, real estate brokers or attorneys whose services you didn’t hire, or court filings, says the Cook County (Chicago) recorder of deeds. Even better, many counties now provide a consumer notification service. Register for free, and you’ll quickly receive an e-mail or text any time a document is recorded on your property. The New York City department of finance advises homeowners to make sure the appropriate authorities have the correct mailing address for you or the person who should receive notices about your property. In your absence from your home, have mail forwarded or ask someone you trust to pick up mail or visit your home. Visit a vacant house periodically to ensure that no one has taken up residence illegally. Advertisement - Article continues below You may get clues when title fraud occurs: You stop receiving your water bill or property tax assessment or bill, for example. Utility bills on a vacant property rise suddenly, or you find people living there. You stop receiving your tenants’ rent payments and learn that they’ve been making the payments to another person and location. You receive payment books or other information from a lender with whom you haven’t done business. Or you find yourself in default on a loan or notified of foreclosure proceedings. How to Spot a Scam: Here are 3 I Dodged If you experience or find something amiss, notify the register of deeds and local law enforcement. In New York City, for example, homeowners who think they are victims of deed fraud are urged to act quickly to report fraud to the city’s sheriff, get a certified copy of the fraudulent document from the city register’s office, report the crime to the district attorney’s office in the borough where the property is located, and consult an attorney to help confirm ownership of the property. (Legal action known as “quieting the title” may be required to resolve any questions about your ownership of the property.)

Title companies do alot for you. Piece of mind

What if it's a brand new home ? no previous owners ?

Same question, but for Gap Endorsement.

Should you get title insurance on small purchases, say around 25k? It’s the same price as insurance on 250k property.

From a title searcher out of Athens Tennessee thank you Dave. I see this all the time where people don’t want title insurance on family deals that are cash or owner financing and I want to pull my hair out

This guy is endorsed by the title insurance.

Just saw another video from you and you say no.. is not necessary we must have a trust better what will be the best answer? yes or no

Is title insurance a 1 time purchase or a renewing thing like auto insurance?

Spot on!

Im not sure if I have it, would I call the bank I have a mortgage with? Thanks

Thanks for the info bud.

Great advice but the the Owner's title insurance isn't $50 as a simultaneous policy. It may have a discount of $50, but it's more like $600 or $700 on average. unless I am misunderstanding you.

Glad to know I made the right decision in getting title insurance on my new property!

What if your buying land or a house through a sheriff sale foreclosure

Do you have to pay for title insurance every month? I've never heard of such a thing.

Thank you Dave!

How do I know if I have it? Is it in the mortgage documents? Was it paid at closing?

If someone steals my home title and gets a loan against it...it would be the loan company that would be the one scammed not me...just because the loan company did not do a perfect identity check of the true ownership of the deed, title etc.

Thanks Dave!

do you renew it every year or it is one time deal ?

What kind of insurances do I need when I have a mortgage?

Thank you so much Dave you answer my question now I’m off to tell them I want title insurance.

I'm mad I didn't do this! I'm scared. I thought it was a scam.

If I bought title insurance at the time that I purchased my home but then refinance a few years later do I need to buy a new title insurance policy?

What about building a brand new custom house????

Is title insurance a one-time fee? Or built into your monthly payment?

Only had to listen to 20 seconds of this. I do title litigation, I thought, for some reason, you would say not to buy it… I clicked this to ream you a new one, but, never mind 😊

Is it still recommended if the home is new constuction?

How about refinance ?

So do it need it when refinancing?

is this equivalent to signing pink slip for a car you just bought?

Do you think we can get rid of it after a certain time?

Need help. Year ago I purchased a lot legally. Today I found out that someone else bought the same property but two years ago. The tittle company issued a tittle to me and the other party that bought it two years ago. Now the first party found out about it and wants her lot back. The problem is that I have already build a house that is still under construction. Please any advice of how to handle this matter will be very appreciated. Need to know if it’s best to go ahead and get an attorney or let the tittle company fix the problem. Thank you.

If previous owner had title insurance, should I get title insurance?

Every time I purchase a home and get a mortgage on it, they do a "title search" for $250, but I believe there is an option for "title insurance" too. Are they separate entities? To be honest I always thought title insurance was a scam, just a tacked on fee that the closing company pockets. Uh oh. D: To me a warranty deed is bullet proof, now I learned I need to do some more research. :O

What about a new build?

Is a deed DIFFERENT from a title?

2:30 what?

I didn’t know this wow

Ok done.

Me and my mother had a house in both our names I didnt signed the title when she sold it does that mean I still own a piece of property

How does someone submit a question to Dave ? or who do I call ?

PERIODT!!!!!!!!!

How much is title insurance? Anyone know?

I knew someone who did not do this and lost the house within 3 months after purchasing it without the title insurance.

Dumb question, What if it's a new house and your the original owner?

Title Insurance should cost $400 not $4000.

Isn't it cheaper to buy a shotgun and the moment one of these leachers from the past wants to take advantage of you, you just shot them in the face?

Beware the fifth sister!!

It's so expensive though... it's so hard to get a home and it still be affordable for those who dont make as much money

❤️

This is all such a crock of misinformation. When you buy real estate title companies ensure clear titles. What he is discussing is a Trust and if you don't have all siblings sign off on anything with an attorney help you are a fool. It is not insurance anyways it's title records. Siblings are not a problem if you are left a property in a trust. This guy is full of trash.

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