FHA Tiltle Insurance
If I am Buying a property for less than 80% of appraised value, do I have to have title insurace?
I close at the end of this month.
[ Edited by flyhomes on Date 11/05/2010 ]
If I am Buying a property for less than 80% of appraised value, do I have to have title insurace?
I close at the end of this month.
[ Edited by flyhomes on Date 11/05/2010 ]
Title insurance is to protect you against unclear titles. If someone were to sell me a house that cheap, I might think, is there a reason they are desperate to get rid of it??? Last year I bought a house for 36% of fair market value from a bank, the title was completely clean at closing, but I had the bank pay for title insurance. So, for I few hundred dollars, I would suggest it!
Absolutely get title insurance!
[addsig]
Thank you of course for the keen advise.
based on a HELOC I have pending, it seem that cash out if a much bigger issut than a property type of duplex.