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Why Title Insurance?
Why Title Insurance?

It's understandable when a home buyer expresses outrage at the requirement and cost for title insurance because he probably has no idea of what it does for him or even why he's required to pay for it. How would he, unless his real estate agent, lender or closing agent explains it well - which rarely happens, due to time constraints and the mountain of required paperwork at every step of any real estate transaction.
Some real estate agents (and probably some lenders or closing agents) don't explain it to their clients because they just don't understand it themselves. I was reminded of that this morning when I read the featured post, Title Insurance is a Scam in Massachusetts.
Ignorance is NOT bliss, especially when it comes to elements of our profession that we should be able to accurately explain (if not endorse) to our clients. Title insurance is one of these.
Experience teaches me that title insurance is no scam and, in fact, it's a good investment. Where else can you buy insurance that's in effect for up to 30 years, with only one up-front premium? And the fact is that title insurance is required by mortgage lenders as a condition of obtaining a home loan.
 
Why home buyers purchase ... more

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