Insured wholesale deals

[Shakia Morrison]

I am very new to real estate investing and am trying to get my ducks in a row before my first deal. I have been calling around to national title companies to find out who can complete my closings and have been questioned about whether or not I will be getting insurance. I had no idea I needed insurance and said no to the first company that asked. That company said they couldn't help me without the insurance. Can anyone explain this? Do you also have any tips on what to ask title companies or real estate lawyers? Thanks in advance.

[Ned Carey]

@Shakia Morrison its your first post welcome to BP

What they are referring to is "title insurance". Virtually all buyers in this country get title insurance.  Lenders require it if they are doing a loan on the property. Title insurance protects the buyer and lender against any mistakes that the title company made in the event someone pops up later making a claim against the property. 

It has nothing to do with whether you personally have nay insurance.