Seller provided title insurance.

2 Replies

i am purchasing a foreclosure that is owned by US Bank. They have offered to close this deal using email and they will pay for my title insurance. I havent done one like this before. Is this a good or bad idea?

Generally bad. The title insurance you get may not cover “unrecorded” liens like code violations, utilities, etc. Typically with an REO the title co they use when giving you the “free” title insurance has a bunch of other junk fees which amount to just about the same, sling with sub par coverage (check the B Exceptions). I Always recommend using your own title co.

@Don Gouge I have seen that a lot where the bank offers to pay for the owner's portion of title insurance. I steer my clients away from this every time. As they are the seller, they are not looking out for you and your interests. If something is missed or concealed, it will fall on you after the closing. I would recommend you get your own independent title insurance.