Expert: Sue Bernstein - 7/12/2007

Question


I am purchasing a 32 year-old condominium.

In Pennsylvania the fees for title insurance are fixed and regulated by the state and are fairly expensive.

The person I am buying the condo from has lived in it 23 years and purchased title insurance when he bought the condo in 1984.

Is there anything I can do, other then buy title insurance, to be confident that there are no potential problems in the future?

Under these circumstances, do you think it’s necessary to purchase title insurance?

Thank you.


Answer
Dear Steven,

I can make this short and sweet.  Do not even think about purchasing any real estate without obtaining Title Insurance.  There is no way you can be absolutely confident that some cloud on the title won't show up.

Good luck,

Sue Bernstein