It's not an insurance company/carrier. 

However if you had done a warranty deed (or a special warranty deed if you still have a mortgage on it) instead, your LLC has a claim against you for the issue on the title, and you in turn can go back to your initial title insurance to fix it.Some title insurance will allow to transfer the coverage to an LLC that you own 100%, but not all of them do or they may require an additional fee.

I'm a first time home buyer and was wondering how this situation would be different than a standard home sale.

I have a unique deal that the property owner is just wanting the builder to build him a home for "free" and he will sign over the land.

Credit pulls for the same type of loan within a short window (usually 14-45 days) are treated as one inquiry, so your score should be fine.

Included was 2 bedroom, 1 bath house, 2 bedroom mobile home and a rental lot with a tenant owned mobile home.

Last minute they changed the deal to a mortgagee loan and cut the SOW from $65,000 to $40,000.

@Eric Robertson I'm the founder at Obie Insurance.

My wife and I own a single-family home in a top school district.

Yes, you can “save” interest by paying off a loan faster - SO WHAT?