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Dwayne Said:

Do i need title insurance if buying a home with cash?

We Answered:

Yes you would want and need title insurance on any real estate purchase even if you are paying all cash for the property.

This title insurance would ensure that there are no liens on the property prior to you assuming ownership. Failure on your part to obtain title insurance you might have many unknown liens on the property that if you decided to refinance or sell the property would have to be paid prior to you selling or getting a refinance.

The title police guarantee that you are receiving a clear title without any other encumbrances.

I hope this has been of some benefit to you, good luck.

"FIGHT ON"

Ethel Said:

I read that title insurance when buying home is tax deductible, is that true?

We Answered:

Title insurance is not tax deductible. However, you add it to the cost basis of the house, so it will reduce your capital gain (if you sell the house at a profit) when you sell the house.