Usually the builder/seller pays for this. Does it not state that in the contract?
No, I did not see this in the contract. maybe I can look into it again.
I work for a builder and we have never paid for TI for a buyer.
This situation is by FAR the one that demands title insurance! Any time you buy a house from an ESTATE, (I have done so) you could be in for a surprise from a "secret heir" coming out of nowhere. They'll suddenly say they "didn't get their share", and the trouble starts. It can be very expensive to buy them off.
You guys can "risk it" as you say and go without a policy, as for myself, it's a ONE TIME cost. I think it's foolish to go without it. If you have to hire a lawyer later, it'll cost a LOT more. I have bought and sold 8 houses in my life so far. Also 3 bare pieces of land (tax deeds). I bought policies for all of them. I've never needed to "use them" (thank God). I would NEVER forgo the cost of a title insurance policy. Pray you will NEVER need it, but usually for $500 or less, I'm going to protect my future and get one.
Not really true. If an heir appears and says he didn't get his share, that's between him and the estate, not the new home owner. The home was bought in good faith, and sign off by a lawyer. The new heir may have a case against the estate and the closing attorney, but the home owner is free and clear.
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