Direct Title Insurance

[macman123]

Direct VGF2 purchase.

I know about the Doc pre fee which is $250.

The Title Insurance I thought was $150 per contract.

However, I asked for no insurance.

I have noticed on the contracts that it includes title insurance at $60 per contract.

Anyone else asked for no insurance and had it added, or has it been removed all together?

 

[DKZB]

I just bought a few with no title insurance in March. The premium depended on the size of the contract.

Initial contract included it anyway and a few other mistakes. Took almost a month and 3 revisions for me to get correct docs and even then they forgot docs. It seems like they don't handle removing title insurance well.

 

[macman123]

I just bought a few with no title insurance in March. The premium depended on the size of the contract.

Initial contract included it anyway and a few other mistakes. Took almost a month and 3 revisions for me to get correct docs and even then they forgot docs. It seems like they don't handle removing title insurance well.

Ah ok - I didn't know whether it was just me.......

When I asked for the points I said can I have 200 but split into 4x50 with no title insurance....

 

[SleeplessInTO]

Direct VGF2 purchase.

I know about the Doc pre fee which is $250.

The Title Insurance I thought was $150 per contract.

However, I asked for no insurance.

I have noticed on the contracts that it includes title insurance at $60 per contract.

Anyone else asked for no insurance and had it added, or has it been removed all together?

Yeah I asked for no title insurance. It was included anyways. So sent it back to be fixed. Second time was fine.

 

[Jimmy Geppetto]

Direct VGF2 purchase.

I know about the Doc pre fee which is $250.

The Title Insurance I thought was $150 per contract.

However, I asked for no insurance.

I have noticed on the contracts that it includes title insurance at $60 per contract.

Anyone else asked for no insurance and had it added, or has it been removed all together?

Same here. I requested title insurance be removed but original docs had it included. Needed to contact the QA team to have it removed. Easy fix but took several calls to reach someone live.

 

[Bo1203]

I asked my guide about it, said he’s never had anyone remove the title insurance. For $180 I just left it on there.

In most real estate transactions the buyer is provided a title commitment with a list of exceptions. Never saw any actual title work. Do you receive the actual policy sometime after closing?

Should add the closing disclosure did say optional next to it.

 

[macman123]

I asked my guide about it, said he’s never had anyone remove the title insurance. For $180 I just left it on there.

In most real estate transactions the buyer is provided a title commitment with a list of exceptions. Never saw any actual title work. Do you receive the actual policy sometime after closing?

Should add the closing disclosure did say optional next to it.

Well with direct you are buying direct from the developer. So I can't really see the point.

 

[PalmettoPath]

I just checked ours in cased I missed something. No mention of title insurance at all.

 

[macman123]

On the plus side it resets the cooling off period to another 15 days before I have to show them the money

 

[mk717]

I added on VGF2 and declined title insurance. Title insurance was not added, and I had to sign a separate release form acknowledging that I declined title insurance.

 

[Jimmy Geppetto]

I asked my guide about it, said he’s never had anyone remove the title insurance. For $180 I just left it on there.

In most real estate transactions the buyer is provided a title commitment with a list of exceptions. Never saw any actual title work. Do you receive the actual policy sometime after closing?

Should add the closing disclosure did say optional next to it.

It is optional. Newer guides tend to know little about it. More seasoned guides know it’s optional and can remove it for you.

It’s best to just deal with the QA team. They can remove it if your transaction hasn’t closed yet.

Before knowing any better… I had paid for it on one of my previous contracts. About four weeks after closing I received the title policy via email from DVC. If I recall correctly it was insured with First American.

 

[LadybugsMum]

I added on VGF2 and declined title insurance. Title insurance was not added, and I had to sign a separate release form acknowledging that I declined title insurance.

Same here.

 

[macman123]

They have to re-write the contracts. They can't just amend.

It has been signed by DVC as well.