We bought a house earlier this year. It was not a foreclosure. The Realtor actually asked me, “do you want to do a title search and buy title insurance?” I said, “why heck yes, who the hell would buy a house without title insurance?”
His casual reply was, “oh lots of people do to save money, especially if you know the previous owner has been in the house for twenty years or more.”
Obviously I don't belong in these times.
Title insurance saved me $3000.00 during the closing of a house in 2006. I was told the property had a lien. I produced my title insurance which showed a clear title. I did not have to pay the supposed lien.