Owners title insurance

[Charles Granja]

Does anyone have any data on what % of properties have issues with title during a 5-7 year hold? Or any data that they can bring to the conversation that supports the decision on obtaining owner's title insurance? (Like frequence/average cost per claim). I noticed some investors don't purchase owner's title insurance and they base this on certain criteria that is specific to the property. 

It seems there is a general consensus that it is a good thing to do and I have always included it in properties that I have purchased. But like all things, there are others who have approached real estate in a different way and I am interested to hear their perspectives.

[Bob Stevens]

Quote from @Charles Granja:

Quote from @Bob Stevens:

Quote from @Charles Granja:

Does anyone have any data on what % of properties have issues with title during a 5-7 year hold? Or any data that they can bring to the conversation that supports the decision on obtaining owner's title insurance? (Like frequence/average cost per claim). I noticed some investors don't purchase owner's title insurance and they base this on certain criteria that is specific to the property. 

It seems there is a general consensus that it is a good thing to do and I have always included it in properties that I have purchased. But like all things, there are others who have approached real estate in a different way and I am interested to hear their perspectives.

 I have done 10s of millions of deals, so 100s and 100s of closings, NEVER ONCE had someone say, " we do not want title insurance. Whom every you are listening to or what book you are ready stop!! The cost is meaningless. 

From all your closings have you ever not had Title INS? 

All the best to you  

 Hi,

I have always received title insurance on my property closings. On the bigger pockets podcast there is an investor who argues against using insurance and that he has benefitted greatly from not having it, you should take a look!

 What could be the benefit lol, There is none, Its like saying well I have not had health ins, for 10 years so I saved all the money, well ..... 

All the best