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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] When you should get title insurance. Posted by Ward-CA- on March 14, 2002 at 3:21 PM In Reply to: Title Insurance posted by Kevin on March 14, 2002 at 1:28 PM : Ward - I am a little confused about title insurance. Say I've done a complete title search at county records, and I buy the house at a foreclosure aution. Do I still need to by title insurance? Is it even possible to buy title insurance after I've purchased the house? And would it do me any good? Would it protect me from any liens I didn't find? What would I want to purchase title insurance? =•=•=•=•=•=•=•=•=•=•= Kevin, you won’t be able to buy title insurance on a foreclosure prospect anytime BEFORE the foreclosure auction. That’s because, until you buy the property, you don’t have an insurable interest. And to go out and buy title insurance after you own the property won’t protect you against any antecedent problems–just those that occur after you’ve gone into title. So, you can’t buy title insurance before the auction, and after the sale, when you can buy it, it’s too late to cover you from any loss due to hidden liens you were oblivious of at the sale. Most of the pro’s don’t bother with title insurance until they are refinancing or reselling the property and are providing their buyer or lender with title insurance coverage. Hope this helps. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : Ward - I am a little confused about title insurance. Say I've done a complete title search at county records, and I buy the house at a foreclosure aution. Do I still need to by title insurance? Is it even possible to buy title insurance after I've purchased the house? And would it do me any good? Would it protect me from any liens I didn't find? What would I want to purchase title insurance? : =•=•=•=•=•=•=•=•=•=•= : Kevin, you won’t be able to buy title insurance on a foreclosure prospect anytime BEFORE the foreclosure auction. That’s because, until you buy the property, you don’t have an insurable interest. And to go out and buy title insurance after you own the property won’t protect you against any antecedent problems–just those that occur after you’ve gone into title. : So, you can’t buy title insurance before the auction, and after the sale, when you can buy it, it’s too late to cover you from any loss due to hidden liens you were oblivious of at the sale. : Most of the pro’s don’t bother with title insurance until they are refinancing or reselling the property and are providing their buyer or lender with title insurance coverage. : Hope this helps. Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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