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Old 10-17-2012, 04:26 PM
 
288 posts, read 511,657 times
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Is anyone on here familiar with doing title searches in Allegheny County or know someone who can do an exhaustive one for me?
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Old 10-17-2012, 06:55 PM
gg
 
Location: Pittsburgh
26,137 posts, read 25,995,963 times
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If buying a property with a mortgage a title search is required, which includes title insurance. It of course is a scam, but is done even by investors incase some Indian burial ground is there or some crap. To be quite honest, the whole thing is a scam and all about, "creating jobs". Usually the closing attorney will do it. Not free of course. If you are paying cash, you could tell them to stick it with that crap, but you should at least have a title SEARCH done, to make sure you have clean title.
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Old 10-17-2012, 07:22 PM
 
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It's not a scam, or about Indian burials, or about creating jobs. It's to protect the buyer from unpaid liens, which never go away (unless they are paid or there is legal action to clear title). I buy properties with cash, but still get title searches done and get title insurance. Can't afford not to.
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Old 10-17-2012, 07:32 PM
gg
 
Location: Pittsburgh
26,137 posts, read 25,995,963 times
Reputation: 17378
Quote:
Originally Posted by aw_now_what View Post
It's not a scam, or about Indian burials, or about creating jobs. It's to protect the buyer from unpaid liens, which never go away (unless they are paid or there is legal action to clear title). I buy properties with cash, but still get title searches done and get title insurance. Can't afford not to.
Oh bull crap! What do you think a title search is for? A title search is different than title insurance. Don't confuse the two. How much do you pay for the scam called "title insurance"? What is wrong with getting a title search and tell them to stick that insurance up theirs? The only reason they can get away with doing both is because people like yourself say, oh my goodness, I don't care if they just did a title search, I better protect myself if they didn't actually do a title search which would tell you if there are indeed leans on the property. Title INSURANCE is a scam, but most everyone does it. Why? What is another grand or so?
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Old 10-17-2012, 07:57 PM
 
288 posts, read 511,657 times
Reputation: 169
Quote:
Originally Posted by aw_now_what View Post
It's not a scam, or about Indian burials, or about creating jobs. It's to protect the buyer from unpaid liens, which never go away (unless they are paid or there is legal action to clear title). I buy properties with cash, but still get title searches done and get title insurance. Can't afford not to.

Where do you have your searches done and what is the cost for both the search and title insurance?

I've checked Allegheny county's online search: https://pa_allegheny.uslandrecords.com/palr/
What types of liens wouldn't be included on this?
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Old 10-17-2012, 08:19 PM
gg
 
Location: Pittsburgh
26,137 posts, read 25,995,963 times
Reputation: 17378
Only attorneys can do searches ilke that. Any real estate attorney will do. Of course they will say, oh you need a title search an insurance. The insurance costs the big bucks...you know the scam part. You need protection from that Indian burial ground.

I have been in the real estate game for decades. It is a scam, but everyone is okay with it. A piece of mind so to speak.
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Old 10-17-2012, 10:29 PM
 
106 posts, read 218,406 times
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Quote:
Originally Posted by rockthecasbah121 View Post
Is anyone on here familiar with doing title searches in Allegheny County or know someone who can do an exhaustive one for me?
Yes to both. DM with what you are looking for, im sure I can get you on the right path.
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Old 10-18-2012, 06:22 AM
 
5,894 posts, read 6,886,978 times
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The price of title search/ insurance is most definitely a scam. On other insurances the payout percentage on claims to units insured is fairly high, on title insurance they on average have to pay out a whopping 5% of the time.
Not to mention that the search/insurance of course doesn't carry over when you refinance & requires paying all over again.
If you shop around you won't find that prices differ much at all (collusion anyone) for the service that takes someone no time or skill to do (the title search) & virtually no risk of ever having to pay out (the insurance), but is required when one purchases/refinances a home. Quite the racket indeed.
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Old 10-18-2012, 08:54 AM
gg
 
Location: Pittsburgh
26,137 posts, read 25,995,963 times
Reputation: 17378
Quote:
Originally Posted by UKyank View Post
If you shop around you won't find that prices differ much at all (collusion anyone) for the service that takes someone no time or skill to do (the title search) & virtually no risk of ever having to pay out (the insurance), but is required when one purchases/refinances a home. Quite the racket indeed.
The reason the prices don't differ is because it is regulated. Sort of like milk prices. There are two prices given. The regular price and a reissue rate. The best you can hope for is the closing attorney will give you the reissue rate price. It is a scam, but all banks require it. If you pay cash, you could say no to the insurance, but I have never seen anyone do that.
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