Browse Forums General Discussion 1 Jun 01, 2009 7:25 pm Just wondering whether anyone took out title insurance. Have received the retainer agreement from our conveyancer and it seems that they are pushing it pretty hard for obvious reasons I imagine. Did anyone here take out Title insurance for the transfer of your land? I want to get a measurement of the land once title is issued and they claim that insurance is cheaper than getting a land survey done. Re: Should I get Title Insurance? 3Jun 01, 2009 8:08 pm Casa2 What is Title Insurance and how does it give you dimensions for your land? Not sure. Says it guards against certain unknowns and hidden risks. The only hidden risks I can see is that my block of land isn't the right dimensions. Re: Should I get Title Insurance? 5Jun 02, 2009 10:27 am I've looked at this and I think it's a greedy money-making move on behalf of insurance companies and conveyancers (who no doubt get a commission). The chances of any of the things they mention going wrong in Australia are slim, thanks to our real estate laws. If you think it'll give you peace of mind and the cost is low, then maybe you should consider it, but I wouldn't bother. If you have any worries about the boundaries/dimensions of your block, go out armed with a tape measure and the plan of subdivision and check it yourself. It isn't usually very hard. There have been other threads on this topic somewhere here.... Re: Should I get Title Insurance? 6Jun 03, 2009 1:14 pm kek I've looked at this and I think it's a greedy money-making move on behalf of insurance companies and conveyancers (who no doubt get a commission). The chances of any of the things they mention going wrong in Australia are slim, thanks to our real estate laws. If you think it'll give you peace of mind and the cost is low, then maybe you should consider it, but I wouldn't bother. If you have any worries about the boundaries/dimensions of your block, go out armed with a tape measure and the plan of subdivision and check it yourself. It isn't usually very hard. There have been other threads on this topic somewhere here.... You're right. I'd rather spend the $500 elsewhere. Conveyancer claims that they get no commission, but I'm a bit wary when they make statements like in order to ensure that your bloack is the right dimensions you can either pay for a costly land survey or you can get title insurance. Not sure how Title insurance would help in that case. Like you said, I'll be going out there with a tape measure myself Hi All, I just wanted to close this topic out with an update. So we ended up agreeing to a number with the insurance company, and after an extensive amount of hand… 8 23401 Flamingo Give me a call and I will do my best to talk you through it. For those who would like an answer, Subject to seeing your actual DA condition, I think you are… 1 4572 Hi there, long-time lurker but first time posting. I've bought a house 2 and a bit years ago and last year we had some major water damage on a converted pergola area… 0 7931 |