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Ambassador
2,571,547
Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

  # #  You will lose the house or land that you think you bought.  To add insult to injury, if you borrowed the money to buy it, and gave a note to whoever loaned you that money, you are still on the hook for it.

Jun 22, 2016 10:40 AM
Rainer
225,894
Ron Climer
Keller Williams Realty Mountain Partners - Tryon, NC

I bought a house once with no title insurance.  The risk is that someone could come knocking on your door claiming that they own the property or have some lien on it.  I owned that house for about six years.  I sold it .  I never ever mentioned to anyone that I had bought it with no title insurance until aftr I sold it.  .  Title insureance is like any other insurance.  You don't need it unless you need it. 

Jun 22, 2016 05:28 AM
Rainmaker
6,613,594
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Title issues can be very expensive to resolve.

Jun 22, 2016 08:49 PM
Ambassador
2,224,167
Debbie Laity
Cedaredge Land Company - Cedaredge, CO
Your Real Estate Resource for Delta County, CO

There are too many to mention. A buyer should always get title insurance. 

Jun 22, 2016 02:10 PM
Ambassador
3,986,710
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

If a problem on the title comes up after closing then the buyer will have to hire the attorney to sort it out.

Jun 22, 2016 01:09 PM
Rainmaker
1,991,558
Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker in DC, MD, VA and attorney in DC

the biggest risk is having to defend yourself against claims against your title without the benefit of insurance - it can be VERY expensive

Jun 22, 2016 12:34 PM
Rainmaker
1,231,599
Mary Yonkers
Alan Kells School of Real Estate/Howard Hanna Real Estate - Erie, PA
Erie/PA Real Estate Instructor

Risky enough that I wouldn't risk it.  Similar to playing Rusian roulette with load pistol.

Jun 22, 2016 12:03 PM
Rainmaker
1,387,828
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

If you get a mortgage, it's not an option.  The banks require it.

Jun 22, 2016 08:51 AM
Rainmaker
4,192,219
Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

Would not go there! It is not worth the risk!!

Jun 22, 2016 06:24 AM
Rainmaker
4,799,501
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Loosing your home is the big risk.

Jun 22, 2016 06:13 AM
Rainmaker
1,707,423
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

If you purchase in Oklahoma City with even cash, title companies will not close you without it. Even if you could close without it I would write up a You're an Idiot addendum so that I could not be held liable.

Jun 22, 2016 05:22 AM
Rainmaker
961,261
Diana Zaccaro Broker Associate
Tropical Beachside brokered by eXp - Cocoa Beach, FL
"The Accidental Blogger" Cocoa Beach, Florida

You have no protection if liens are later discovered.

 

Jun 22, 2016 04:46 AM
Rainmaker
468,799
Dan Pittsenbarger
Keller Williams Western Realty - Bellingham, WA
Improving Conditions

Hmm. In our area that is a seller cost, buyer buys a lender policy if getting a loan. Your question begs a question. What kind of scene are you dealing with?

Jun 22, 2016 04:38 AM
Rainmaker
4,047,526
Richard Weeks
Dallas, TX
REALTOR®, Broker

If you need a loan the risk of not getting one.  If you are paying cash the risk of buying something that someone else has a vested interest in.

Jun 22, 2016 04:34 AM
Rainmaker
2,024,200
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

You could be buying a property with various liens affecting it !

Jun 22, 2016 04:05 AM
Rainmaker
1,232,777
Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets
Big Block Realty 858.232.8722 - La Jolla, CA
& Host of Postcards From Success Podcast

Ain't worth the risk!

Jun 22, 2016 02:38 AM
Rainmaker
1,459,827
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Minnette Olsen For buyers here is a risk of a judgment or a mechanics lien that didn't come up during the initial title abstract. For sellers, lenders require title insurance for the loan.

Jun 22, 2016 02:35 AM
Rainmaker
4,103,608
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Losing your property and losing lots of money.   Neither is good.

Jun 24, 2016 01:44 AM
Rainmaker
1,525,305
Sybil Campbell
Fernandina Beach, FL
Referral Agent Amelia Island Florida

Fred Griffin nailed the answer!

Jun 23, 2016 06:54 AM
Rainmaker
4,017,133
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

You could loose your house because there could be leans or not a clear title on it.  Do not chance it.

Jun 23, 2016 12:05 AM
Rainmaker
4,215,091
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Gaps in title insurance coverage can effect you ability to sell or finance a property.

Jun 22, 2016 11:33 PM
Rainmaker
3,331,943
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

Title insurance equals about 1 hour of lawyers fees, how can one not afford this safetey net

Jun 22, 2016 11:02 PM
Rainmaker
5,571,934
Barbara Todaro
RE/MAX Executive Realty - Retired - Franklin, MA
Previously Affiliated with The Todaro Team

Fred gave you the answer.....title insurance is a no-brainer....everyone needs it and it's a one shot deal.... pay once.

Jun 22, 2016 10:11 PM
Rainmaker
3,069,984
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

Is it optional??!! 

Jun 22, 2016 10:06 PM
Rainmaker
4,123,116
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

If you have a mortgage, you have no choice. You will have title insurance to protect the lender's interest in the title.

Jun 22, 2016 09:52 PM
Rainmaker
4,433,703
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

The others have answered.

Jun 22, 2016 09:16 PM
Rainmaker
634,282
Kathleen Luiten
Resort and Second-Home Specialist - Princeville, HI
Kauai Luxury Ocean Home Sales

Ron Climer is tellling you the truth, plain and simple. If you don't have it you have a risk. If there's a problem you have a BIG problem.

Jun 22, 2016 06:23 PM
Ambassador
4,312,759
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Minnette Olsen -  Ron Climer has an excellent answer...

Jun 22, 2016 04:11 PM
Rainmaker
1,157,485
FN LN
Toronto, ON

Since legal counsel are the ones who sell the title insurance in our jurisdiction, it is best that they provide comments to your question as they are most familiar with the various products.

Jun 22, 2016 08:28 AM
Rainmaker
2,442,558
Evelyn Johnston
Friends & Neighbors Real Estate - Elkhart, IN
The People You Know, Like and Trust!

Not knowing if there are any clouds on the title or liens or judgments.

Jun 22, 2016 05:33 AM
Ambassador
4,582,611
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

No protection if there is a problem latger discovered with the title, such as an unknown lien, someone with a claim to the property, etc.

Jun 22, 2016 04:58 AM
Rainmaker
1,154,075
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

I do not think one can do that in California.

Jun 22, 2016 03:05 AM