Do I need to buy Title Insurance for my condo? What is the risk?

Tips and Deals Forums Home Insurance Do I need to buy Title Insurance for my condo? What is the risk?

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      Anonymous
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      I am buying a condo in a new development and paying cash for it. I understand that mortgage lenders require title insurance, but that isn’t an issue here. I understand that the insurance is there for peace of mind to protect the large investment, but I don’t understand what the risk is, especially since the other 110 new condo owners in the building are likely going to purchase title insurance at the requirement of their lender. The Title Insurance company wants to charge $ 820 for ALTA Owners Standard Coverage.

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