Purchasing HUD home cash and Title Insurance

[Sean Dieden]

I am currently under contract for a HUD property that I am paying cash for and set to close at the end of the month. I have a couple of questions about title insurance and costs. I know that HUD doesn't provide title insurance so I am looking to obtain it for the purchase. The title company's rate card states $100,000 and under will be $1325, escrow charge/fee of $935, and lawyers cost is $400. What are the concerns and risks my lawyer might have in writing this policy for the purchase? Does HUD provide you with clear title to the property before closing? I understand there could be items that where not recorded, but that is why I am purchasing title insurance.

My other question pertains to a buyer that I have secured to purchase the property from myself after I close. Do I have to obtain another policy to offer the potential buyer and pay all these expenses again to close. How can I save money on a double close. I know HUD properties cannot be assigned so double close is my best option. Any feedback from the BiggerPockets community would be highly appreciated.Thanks,

Sean