Title insurance yay or nay?

[Scott Royer]

I picked up two vacant parcels in buffalo Ny for a whopping $600 each. The cost of title insurance is $303 each, is it worth it to add this cost to the purchase? I've obviously got it on my other properties with houses but just don't know if the high cost to purchase price is worth it.

[Jim Sells]

The question I have is, what will title insurance pay for! Is it just going to repay your purchase price, is it going to pay for all litigation to clear the title, if the title can't be cleared will it also pay for the investment you've made after purchase? the question is what insurance are you really getting for the $303. Knowing that would probably answer the question.