If you are buying a short sale home, do you need to buy title insurance, and if so, when?

Asked by Vicki Caillouette, Klamath Falls, OR Tue Jul 30, 2013

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Lana Lavenba…, Agent, Grants Pass, OR
Tue Jul 30, 2013
Yes you do need title insurance - most sellers/banks wont allow for a home to be sold without it due to any other liens that might be on the property. You do not want to help a seller pay off a first loan only to find out later there may have been other liens.
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Thank you for the info. So do we buy it before closing, during, etc..? We've been waiting for a "yes" or "no" reply on our offer (cash) from the bank/or whoever is in possession of the property right now for 7 going on 8 months. The realtor says we should know "tomorrow". In the meantime, the title company that sent us the first report on the house has sent a couple letters stating that they can also sell us the title insurance. So, when does the purchase of this insurance take place? Should we go with this company? Thanks! :)
Flag Tue Jul 30, 2013
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