they won't give the loan if they don't think it's safe, how does that NOT protect the buyer? they won't give the loan if they don't think it's safe, how does that NOT protect the buyer?Because the buyer may not discover a problem - until he’s the seller.
This is yet another reason why nobody should buy or sell real estate without having an attorney. All of the documents are written by lawyers, and the bank’s lawyer is present at the close, most “homebuyers” go in naked and haven’t a clue what half of it means, and mistaken about the other half.
“Title insurance” protects the lender, not the buyer. They make the buyer pay for it (along with everything else).
Because the buyer may not discover a problem - until he’s the seller.
This is yet another reason why nobody should buy or sell real estate without having an attorney. All of the documents are written by lawyers, and the bank’s lawyer is present at the close, most “homebuyers” go in naked and haven’t a clue what half of it means, and mistaken about the other half.
“Title insurance” protects the lender, not the buyer. They make the buyer pay for it (along with everything else).