Anyone Purchase Closing Protection Coverage in Ohio?
I am closing on a land contract purchase in a few days and I have the option of purchasing Closing Protection Coverage which covers
1) Theft, misappropriation, fraud or any other failure to properly disburse settlement, closing or escrow funds; and
2) Failure to comply with any applicable written closing instructions, when agreed to by the licensed agent.
This is in addition to my normal Title Coverage.
Has anyone purchased this coverage? Why or why not? I'm thinking it might not be a bad idea given its a land contract purchase but don't want to be wasting money on something that isn't necessary. Any thoughts?