Do I need title insurance if I pay cash for a house?

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asked Mar 13, 2019 in Real Estate - Renting by 556Baby (300 points)
Do I need title insurance if I pay cash for a house?

1 Answer

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answered Mar 13, 2019 by Qianaee98 (340 points)
Title Insurance is only required when buying a house through a mortgage because the bank wants title insurance to protect the interest in the home when you're taking out a mortgage on the home.

But when you pay cash for the house and do not take out a mortgage for the home then Title Insurance is not required for buying the house or closing on the house.

You just go through the regular closing process and then pay the money for the house in full plus the closing cost and deed transfer fees.

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