Title Insurance on a condo in NH? ?

Question

I am buying a condo in NH ( which has had two owners in the family) and was reviewing the HUD 1 statement and noticed there is a 750 fee built on for title insurance. I was under the impression that this was my discretion. Is this something that I can elect yes or no on? It is a VA loan type by the way. Thanks for any information from the experts

Answer 1

Any time you take a mortgage of any sort on a property, title insurance will be required by the lender who is providing the funds for the purchase.  No lender will risk lending on a property with a possible title cloud, regardless of how long it has been held in the family.  Expect to pay the title insurance fee.