We are buying a newly built house which has recently been subdivided and our conveyancer is suggesting strongly that we buy title insurance. Have anyone bought title insurance before is it worth it?
New Home Title Insurance
LShoma on 04/04/2015 - 19:04
Comments
No with a mortgage
If a bank is using the property as security surely they won't settle unless they are positive the title is clear.
Also, your conveyancers role is to ensure you get clear title to the property by doing all the required searches etc. this sounds like something you probably don't need that your conveyancer wants you to get to cover themselves.
your conveyancers maybe get some commission from the insurer…
No need.
are you planning to buy it with 100% cash or mortgage with bank?