Title Reports cover a Legal Description supposedly and not an address, property type or certain acreage.
I have seen the Title Report / Title Insurance Miss huge debt / liens on a property. I had to bring it to their attention, Shocking But True.
And some Realtors PUSH for you to buy an additional title insurance for the time of escrow, apparently some Title Companies are too lazy or don't include in their HUGE fees to check for debt more then once, so they check in the begining, and hope for the best. If you want them to check before the Actual closing then you have to pay more. Kind of makes a good case for a quick closing.
If this is NOT true then why sell an additional Title Insurance for the time of escrow in case there is other debt. Seriously I had a Seller that was buying in Washington, the Listing Realtor was in Idaho but the property was in Washington, she, the Realtor tried to make the buyer pay for additional Title Insurance to cover the escrow period.
Talk about Scams. And why was the Realtor even involved in pushing MORE Title Insurance on to the Real Estate Consumer.
www.RealEstateIndustryWhistleblower.com
1 comment:
Well said, but let me add this. Traditional title agents do the job but our industry is filled with inept, untrained or uncaring providers. Those of us left who do the full job are trying to restore quality in product and service. it requires a state by state reformation. Thankfully in PA we'll have a public hearing on the pricing and merits of title insurance on May 28th. Here's hoping we can fix what's broken.
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