Mortgages & Creative Financing

Why Chain of Title is important to your investment property purchase

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28 Articles Written
Banks require a preliminary title report on all real estate transactions. The preliminary title report serves many functions, but one that could cause you to loose a great deal on your next investment is the Chain of Title. Most lenders require a title company to give them a 24 month chain of title. This simply [...] View the full article: Why Chain of Title is important to your investment property purchase on The BiggerPockets Blog. This content is Copyright © 2017 BiggerPockets, Inc. All Rights Reserved.

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    Gregory Bain
    Replied about 12 years ago
    Title Insurance is one of the biggest rip offs to the American people. If they buy a house in 1965 and have title insurance it is good for what they paid for the lot – about $3000 less the 90% the Title Company will reimburse you when a defect is found in 2008. Of course the land has no clear title and now can’t be SOLD. What good will $3000 do for the “owner” of property with an appraised value of $350,000? There is good reason in New Jersey the Department of Banking and Insurance are grouped together.