Close without title insurance?

[Account Closed]

Has anyone decided to do a court house closing in lieu of closing attorneys and title companies.

I know you wouldn’t have any guarantee of clear title, but couldn’t that be searched myself?

This would be for flipping houses from motivated sellers.

Thanks!

Derek Blades

Wichita, Kansas

[Tom Gimer]

Sure, it's done all the time. I don't recommend it.

I have a file now where 2 transfers back 2 brothers conveyed a property to a wholesaler. The wholesaler then sold to the current owner. A few days after settlement -- boom lawsuit... 1 of the brothers says the other forged his signature and absconded.

Even the most careful research would not have uncovered this, which is why title insurance is purchased by 99.9% of our investor clients on every single deal.