Purchasing property on auction.com - is title insurance necessary

[Sunil Sharma]

Hello Forum,

I recently purchased a property on auction.com that is classified as occupied. Since this is an auction property, seller is not paying for closing and hence I have to pay for the title insurance. Is it really necessary to buy title insurance if I am planning to flip the property in 4-5 months? Appreciate a response at the earliest as I have to finish paperwork by tomorrow. Thank you all for your time and feedback in advance!

Thank you,

[Bob Floss II]

@Sunil Sharma Yes, you want title insurance and you want to elect to get your own policy. It will add to your closing costs but you will know you have good title when you flip. You need to know if you have issues and address now. Also get a survey.