Buying a new construction home and closing next week. Is the Owner’s title insurance important to get? It is listed as optional on our document since there is no title history and we’ve been given the option to skip, our agent has said 95% people don’t use it. It is costing us $2400

like
Posting as :
works at
You are currently posting as works at

95% might not use it but, the 5% that do it’s a life saver. One potential title issue and you’ve saved that 2400 and more.

Remember, your particular lot may not have any history but, the lot was likely split from a larger plot of land that could have title issues.

Personally, I’d get the insurance.

like

D1 is right-ish ...

Check what other homeowners in the same development have done, especially the ones living there the longest.

Title insurance guarantees property lines too. If the fences are in the wrong place etc. that said in new construction your risk is pretty low.

I would demand it. If you’re getting a mortgage, your lender will likely demand it as well.

Right. My mistake. A simple survey should tell OP what he or she needs to know. I’m not particularly risk averse, but in this case, $2400 buys peace of mind. Though I do think title insurance is kind of a racket. But like most insurance, you don’t need it until you do. But then you often have to fight like hell to get covered. So it goes.

Related Posts

Best website or realtor o company or way to find and buy a condo in NYC(Queens, Bronx or Manhattan), 2-3 bedroom.

like

Does EY have mortgage benefit?

like
like

I was given a 15k, 0% loan to pay off my student loans upfront from a family member. Would it be better to invest this money and just pay back my family member monthly since the 4% rate on my loans would be less than (hopefully) the amount gained in the market?

funny

25 and a year into having a brokerage account. How does one build a strong portfolio? I’m currently doing well based on stock picks but understand that it’s really just luck based on this rollercoaster year. Holding for the LT

like

Do we have tax calculator in tcs

like

Looking to buy a home in 1-1.5 years. What are some good neighborhoods inside the beltway for 500-650k range?

like
funny

Has anyone here used New Western to buy real estate deals?

like

Kpi reply krta b h is group me
Techm need NPS account from kotak only
How to open a new one.

NFA, but will be buying up sub 20K BTC… DYOR 🥲

Post Photo
like

Should Healthcare be considered as a business?

Time to buy SQQQ / TTT / TZA?

like

Make 72k with not a lot savings at the moment since I am new in the workforce. Any advice on how to break into real estate.
Also already own a primary residence.

like

Does anyone know how to declare in my individual tax return, RSA and Stock Options from a US Company that I have? Non exercised yet.

like

Amex Platinum Users - How does “no preset spending limit” get reported to the credit bureaus? Just got approved and 6 months ago my credit was around 580 so this is a huge achievement for me, but I’m also obsessed with maintaining my credit score now. Google has not been helpful; too many answers are no answer. Thank you!

like
like

Paid off my car loan within the same year of buying. I'm debt free now! 😊

like

Morgan Stanley or Schwab? Which brokerage should i choose?

like

Does EY let you keep Amex rewards points?

like

More Posts

looking for a Salesforce developer job role. i have overall 2.5 years of experience and 1.5 years in Salesforce development experience.

like
like

Hi Fishes,

I had worked as a manual test engineer in Wipro, can anyone refer me.

like

Anyone from Deloitte/KPMG/EY/PWC working in Servicenow projects?

KPMG It said that I'm selected, I got official email as well of selection, now it's taking time to generate offer letter. And today HR said because it's year closing, it's taking time. Hath tight bhi hai as it's closure time KPMG . What should I understand from this?

like

Looking for candidates for a Tableau Analytics Solution Engineer role at Salesforce. Home-based role with some travel. Ideal background: experience working with analytics technology (ie Tableau, Salesforce CRMA (Einstein), Qlik, Power BI), working with or in the government/military, and working in a customer facing role. Please reach out if you have interest or know someone who may be a good fit. Resumes welcome!

like

What is the salary McKinsey provides for 3.5 years of experienced full stack developer ?
I have cleared the technical rounds for sde 1 and they are asking for CTC expectations.

What all companies have openings for Informatica Developer for 7.5 YOE...
if anyone has any referrals pls post
Currently serving notice period....

Can someone point to the documents having list of mobile approved by PwC (for work profile ).

I want to find people who have made working 10+ hours norm in consulting. Seriously man...

funnylike

Looking to get my first luxury watch. Starting PPL training in a few weeks and with bonuses around the corner would love to commemorate receiving my license. What are some good pilots watches under 4K

I recently had an initial interview for a technical recruiter position. The guy on the phone stated that this is not a 9-5 job and long hours are expected. I proceed to ask how much PTO is offered and he said that is not recommend within the first 6 months of working and the harder you work the more PTO you receive. From that conversation, I saw instant red flags. Any thoughts?

like

My adland exit: I worked in new biz for 8+ years and was burning out. For a while I’d been feeling like a cog in the capitalism wheel and needed a higher purpose than pitch decks!

I wanted to work in sustainability to tackle the climate crisis and through a series of moves (AMA 👍), I’m now leading global marketing for an NGO called Forest Stewardship Council. A huge relief.

I’m also now hiring a Marketing Manager (true reason for this post). Long shot, but details below if this speaks!

likeuplifting

Why would anyone want to be a dental assistant when they're paid so little...?

like

...

"How is the project going?"

Post Photo
likefunny
like

Guys what is this RTO benifit. I heard ADP is giving 1 lakh to purchase any vehicle. Is that true? If yes is it available now ? ADP

I'm a part of PXT team, is it right to apply for diff roles internally at this time?

like

Please help me to choose the best company based on WLB, Career growth and Job Security.
I have offers from below companies
1) Standard chartered - 20 Lakhs fixed
2) Devon - 21.5 fixed
3) Allstate - 23.5 fixed
4) T-systems - 25.5 fixed

YOE - 10 and role is for Scrum Master

Additional Posts in The Real Estate Bowl

What are some of the things that were a MUST when buying your first home and what were some things that you were more flexible with and why? I’m having a discussion with my partner about what we absolutely need and what can be worked on later.

like

Interested in development. Any recommendations on how to get started? Are there any organizations that will fund any part of a development project?

like

Hi all, I’m in the north east metro area and due to the current RE market we decided to look into PA specifically Lancaster. Anyone in this market and have any thoughts on where it’s headed? We’re looking purchasing a single family property all cash at 110k that rents for $1100 a month. The last owner bought for 35k like 15 years ago 😩 but hoping buying and holding for a few years will give a equal or greater returns over the long run.

like

My assumption is that one makes money in RE with leverage. So, would you never let your equity in any given property get above certain% (I.e re-leverage and invest elsewhere) or would one eventually want to own a property outright?

like

Would you pay an extra ~$100/month on top of existing monthly PITI for access to $65k in equity from your home? Want to use it for either A) down payment on new primary or B) net new investment property and see if that can fund the next primary

like

Current Tenant Rent: $1075, Monthly Payment: $400 (with property management), Initial Repairs: $2-5K, Down Payment: $12K

At surface level, do these numbers check out?

like

Happy Holidays fishes!! I would love to hear some thoughts here..We bought our first home last year for 316K ( starter home) in MCOL city. The value is now over 400K and I have an equity of over 150K. We are thinking of moving to a different state.Should we rent this place ($2400/month) and with recent refinance my mortgage will be $1600/month(inclu pay all) or sell it to pull out equity for the new home in a different state? FYI: we have over 100K in cash to down payment.

like

First time home buyer and I have no idea what I can afford. Excellent credit. I know to get a preauthorization before looking but want to skim homes the meantime. Any good rule of thumb when searching?

like

28 year old with ~125k in cash/brokerage. Have been wanting to begin purchasing rentals but anxious to use a good bit of my liquid savings. Thoughts on biting the bullet vs. investing in stocks. In Houston if that is a factor

like

I share my first property with a family member which is my primary home. If I buy a second property (and keep the first property) and live there, does that second property now qualify as my primary home?

like

Does anyone have experience managing an out of state property yourself? Are there any tips/services you use?

like

Hi - any good books recommendations for getting started on real estate investing?

like

Commercial real estate question. When a residential property will likely zone commercial in the coming years, do we, the owner, wait for a buyer/developer to contact us?

like

Can anyone recommend a solid lender in Westchester County single family homes? Low rates, good service, easy to deal with.

likefunny

Who is still in denial about a housing correction? The Fed just made another .75% increase. Powell said they won’t stop until inflation is 2%. He also said a recession would be better than the consequences of unchecked inflation. He announced he will bring rates to a “restrictive level” until “the job is done”. He said that labor demand needs to soften (ie: layoffs). He very explicitly said he wants to slash demand and that housing needs a “correction”.

like

How did you get started with your personal investing in stocks? I am 26, F, have some money in savings, 401k, stocks and just started my own business albeit small. I’m extremely interested in real estate investing have been reading and listening to podcasts. Any advice?

like

Looking to buy in the DMV suburbs (northern VA). Is this the wrong time for such a move? Beyond down payment, got about 6mo emergency fund and must tap into it for moving&house expenses like furniture

like

Any investors in the woodlands Texas for single family homes, rent looks good as per Zillow , good school district and houses are still affordable compared to Dallas and Austin

like

I went under contract last fall for a new build that will be done later this year. In the contract the seller/builder included a clause that gave them the ability to change the price without cause anytime before the house is complete. This past week they invoked that clause to increase the price by like 7%, supposedly due to material costs. I can either agree to the increase or they return my deposit. My question: is that type of clause even legal? (Cont)

like

Anyone take the WI Real Estate state exam? Any tips on what to study?

like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the
Fishbowl app

See what’s happening in your industry
from the palm of your hand.

A phone with Fishbowl app

Scan your QR code to download
Fishbowl app on your mobile

Download app

Sign up for free to view this conversation on Fishbowl

By continuing you agree to Terms of Use and Privacy Policy

Already have an account? Log in

Sign up for free to continue using Fishbowl

By continuing you agree to Terms of Use(New) and Privacy Policy(New)
Messaging rates may apply

Already have an account? Log in

For account settings, visit Fishbowl on Desktop Browser or

General

Legal