Hi former Iowa real estate attorney here - the title insurance is missing some pretty big details. Yes, the title insurance portion is cheap but it leaves out the abstract. Every property is issued an abstract with a chain of title dating back to the patent. You have to pay to have the abstract updated pre and post closing, plus pay to have an attorney review the abstract to ensure you have clean title. Depending where in the state it can cost several hundred dollars. And if you can't find the abstract to the property? It can cost around $1,000 to replace, depending on the property.
If you think a vanilla milkshake is socially-unacceptable, I’m okay with never socializing with you.
Hi former Iowa real estate attorney here - the title insurance is missing some pretty big details. Yes, the title insurance portion is cheap but it leaves out the abstract. Every property is issued an abstract with a chain of title dating back to the patent. You have to pay to have the abstract updated pre and post closing, plus pay to have an attorney review the abstract to ensure you have clean title. Depending where in the state it can cost several hundred dollars. And if you can't find the abstract to the property? It can cost around $1,000 to replace, depending on the property.