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Post by benmnwi on Oct 31, 2023 20:20:04 GMT -6
It has been a while since I bought some land, so I can’t remember what I did in the past. Do you guys get title insurance for straight land purchases?
If so, what’s a typical price for that?
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Post by Bob on Nov 1, 2023 6:10:50 GMT -6
It has been a while since I bought some land, so I can’t remember what I did in the past. Do you guys get title insurance for straight land purchases? If so, what’s a typical price for that? I always get it. I think it was $40 on the first property in 2011, and maybe $75 on the second one in 2016. It was so cheap, it wasn't even worth the breath to discuss it. |
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Post by Bwoods11 on Nov 1, 2023 6:33:12 GMT -6
It’s a good idea to purchase title insurance in most cases !
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Post by MoBuckChaser on Nov 1, 2023 6:46:56 GMT -6
Most everyone selling is doing title insurance now. But remember, title insurance is only as good as the title insurance company and or if they are still in business when you need them.
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Post by benmnwi on Nov 1, 2023 7:56:10 GMT -6
Thanks for the feedback, it sounds like title insurance is a good idea at a relatively low cost.
Along the same lines, is there anything else I should watch out for as I proceed with this land purchase? It has been a decade since I last bought land, so I'm out of the loop a bit.
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Post by MoBuckChaser on Nov 1, 2023 8:18:10 GMT -6
Thanks for the feedback, it sounds like title insurance is a good idea at a relatively low cost. Along the same lines, is there anything else I should watch out for as I proceed with this land purchase? It has been a decade since I last bought land, so I'm out of the loop a bit. Make sure the title is updated and you have your land attorney give you an opinion of it. Make the seller pay for the title insurance. Is there a survey of the property that is registered at the county? Get it in writing there are no easements to come back and haunt you whether they are on the title, recorded at the court house or verbal. Make sure there are no land leases in place. Tillable or hunting. Make sure it’s in the PA that the seller cleans out all his junk or you escrow money at closing for you to hire someone to do it. I could go on and on. |
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