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Ambassador
6,348,261
Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

Not having a clear title

Owing liens from the previous owners

Losing the property to someone else who actually owns it.

Jun 04, 2017 11:28 AM
Rainmaker
2,371,442
Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co Notary Services retired RE Broker

Guedo's brother Vinnie may break your legs if you don't buy "insurance" from him.

Jun 04, 2017 11:19 AM
Rainmaker
2,219,617
Anthony Acosta - ALLATLANTAcondos.com
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

Good question for an attorney 

Jun 04, 2017 03:50 PM
Rainmaker
1,231,822
Mary Yonkers
Alan Kells School of Real Estate/Howard Hanna Real Estate - Erie, PA
Erie/PA Real Estate Instructor

Lol at the answers you received to your question Brian Burkhalter 

I find it hard to comprehend why the instructors in Utah real estate classes don't cover this material in pre-license classes.

Jun 04, 2017 03:22 PM
Rainmaker
5,772,353
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

No insurance, no loan.  A

Jun 04, 2017 11:50 AM
Rainmaker
3,988,007
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

If the borrower doesn't purchase a policy for himself and a title issue comes up on the property, he will be the one that pays to hire an attorney and fight to get it resolved.

Jun 04, 2017 02:50 PM
Rainmaker
4,969,075
Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

Bob Crane and Ron and Alexandra Seigel gave the scoop!

Jun 04, 2017 02:32 PM
Rainmaker
5,583,167
Barbara Todaro
RE/MAX Executive Realty - Happily Retired - Franklin, MA
Previously Affiliated with The Todaro Team

if there's a flaw in the title and it's not caught, that's a big investment that's not transferable...

Jun 04, 2017 11:37 AM
Rainmaker
706,402
Lynnea Miller
Bend Premier Real Estate - Bend, OR
Premier Real Estate Service in Central Oregon

Someone can claim ownership of the property and without title insurane, there is no protection against such a claim.

Jun 04, 2017 03:38 PM
Rainmaker
1,236,920
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

You do not have a choice. Mandatory in CA,

Jun 04, 2017 02:58 PM
Ambassador
5,198,152
Debe Maxwell, CRS
Savvy + Company (704) 491-3310 - Charlotte, NC
The RIGHT CHARLOTTE REALTOR!

What Bob Crane said. It's dirt cheap so, I really don't know why anyone would consider NOT purchasing it!

Jun 04, 2017 01:35 PM
Rainmaker
897,138
Olga Simoncelli
Veritas Prime, LLC dba Veritas Prime Real Estate - New Fairfield, CT
CONSULTANT, Real Estate Services & Risk Management

Finding out you don't really own the home you might've just paid for.

Jun 04, 2017 12:30 PM
Rainmaker
1,528,324
Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets
Big Block Realty 858.232.8722 - La Jolla, CA
CEO of Vision Drive Realty - Coastal San Diego

$$$

Jun 04, 2017 12:25 PM
Ambassador
2,678,399
Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

 Getting stuck with a bad title.

Jun 04, 2017 12:12 PM
Rainmaker
1,466,207
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Brian Burkhalter The bank will not give you a mortgage. If you do not have owners title insurance, you could get stuck with any liens on the property.

Jun 04, 2017 11:42 AM
Rainmaker
1,712,551
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

No title compnay in Oklahoma City will close even a cashd eal without title insurance. That should tell you what you need to know.

Jun 04, 2017 11:15 AM
Rainmaker
5,095,661
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Unless you are dealing only with cash buyers... your buyers will have no choice.... mortgage lender will require title insurance. 

Jun 05, 2017 04:16 AM
Rainmaker
809,258
Kasey & John Boles
Jon Gosche Real Estate, LLC - BoiseMeridianRealEstate.com - Boise, ID
Boise & Meridian, ID Ada/Canyon/Gem/Boise Counties

What Bob Crane said. 

Jun 04, 2017 04:41 PM
Rainmaker
3,986,196
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

I had a client that didn't buy title ins. And it cost him over $25000. To fix the issue

Jun 04, 2017 01:04 PM
Rainmaker
7,783,544
Roy Kelley
Retired - Gaithersburg, MD

Title insurance is often required by the mortgage lender. 

Jun 04, 2017 12:01 PM
Rainmaker
4,550,027
Michael Jacobs
Pasadena, CA
Pasadena And Southern California 818.516.4393

Try getting a mortgage without it....the answer is you won't. 

## PS check your textbook.   

Jun 05, 2017 06:36 AM
Rainmaker
1,617,866
Harry F. D'Elia III
WEDO Real Estate and Beyond, LLC - Phoenix, AZ
Investor , Mentor, GRI, Radio, CIPS, REOs, ABR

You are on the line if anything happens

Jun 05, 2017 06:30 AM
Rainmaker
4,800,082
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Losing your home.

Jun 05, 2017 05:17 AM
Rainmaker
3,071,489
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

Bob "RealMan" Timm nailed this one!

Jun 05, 2017 05:15 AM
Rainmaker
4,846,785
Richard Weeks
Dallas, TX
REALTOR®, Broker

Some day in the future you might discover someone has a legal claim to your property.

Jun 05, 2017 05:07 AM
Rainer
353,865
Jim Cheney
Saint Francis Property Santa Rosa, CA - Santa Rosa, CA
Rincon Valley Realtor 707.494.1055

If there are any hidden liens, you'll have to pay an attorney to defend your property rights and could lose the house, could end up with a big bill, could have a property you can not sell.

Jun 05, 2017 04:39 AM
Rainmaker
4,319,419
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Brian Burkhalter - wow! Bob Crane sail it all...

Jun 04, 2017 09:57 PM
Rainmaker
1,497,548
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

#######Not getting your loan.  Lenders tend to require that. @@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@

Jun 04, 2017 08:33 PM
Rainmaker
1,045,440
Dave Martin (703) 585-4687
Fairfax Realty - Fairfax, VA
Making Realty Dreams a Reality #WeWillGetYouHome

Well if you really need to ask that perhaps you really don't understand the term INSURANCE!

May 11, 2018 10:24 AM
Rainmaker
4,894,510
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

I would never recommend someone not getting it.  You want to make sure the property is free and clear.

Jun 05, 2017 08:43 AM
Ambassador
3,338,299
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate Services

# # That is a great question that hopefully your instructor can and will answer. 

Jun 05, 2017 07:56 AM