Now We Got Trouble: Title Insurance - MarketTicker Forums: "DO NOT BUY ANY REAL ESTATE IN THIS ENVIRONMENT WITHOUT AN ATTORNEY OF YOUR OWN SELECTION GOING OVER ANY PROFFERED TITLE POLICY BEFORE YOU PAY FOR IT AND CLOSE THE TRANSACTION, AND GET THEM TO EXPLAIN EXACTLY WHAT EXCLUSIONS AND CONDITIONS ARE IN THAT POLICY.� WHEN WRITING OFFERS MAKE SURE THAT THE AVAILABILITY OF A TITLE INSURANCE POLICY ACCEPTABLE TO YOU IS ONE OF THE CONDITIONS OF THE SALE AND DO NOT WAIVE IT UNDER ANY CIRCUMSTANCES�PRIOR TO CLOSING.
SOME BANKS HAVE 'CAPTIVE' TITLE COMPANIES, AND IT WOULD NOT SURPRISE ME ONE BIT TO FIND THAT THEY, AND TITLE INSURERS GENERALLY,�ARE EXCLUDING SOME POSSIBLE LOSSES, LEAVING THEM WITH YOU, ESPECIALLY FOR OWNER'S TITLE POLICIES.
SUCH A 'CARVE OUT', IF IT EXISTS, COULD LEAVE YOU WITH NO TITLE COVERAGE IF THERE IS A PROBLEM WITH A PREVIOUS SALE OR FORECLOSURE."
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