What is "deed insurance" and should I get it when closing on a property?

Question by maureen v: What is "deed insurance" and should I get it when closing on a property?
I am getting closer to closing on a property that has had a "complicated deed" because of many family members involved. I want to make sure everything has been thoroughly done and someone suggested "deed insurance. What is it and where do I get it?


Best answer:

Answer by Slappy_McStretchNuts
Most likely your lender will require it. It's actually called title insurance, and I've never bought a house in my entire life where it was OPTIONAL. It was always required. I think the big one in the industry is called Chicago Title. I could be wrong about that though.

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What does it mean if a property is "Tagged By The City"?

by d'n'c

Question by Tom N: What does it mean if a property is "Tagged By The City"?
I am looking at foreclosures to purchase and rehab. Sometimes the agent will tell me that it was "Tagged by the city". Does this mean that I have to bring everything up to code?


Best answer:

Answer by Glenn S
It means that the City says there is some type of violation or health and safe issue with the property.

In this area, if a property is "red tagged" it means that it is unsafe and cannot be lived in until repaired and inspected by a city building inspector. I've seen whole apartment buildings "red tagged" because of major structural damage done by an earthquake or a landslide. Everyone living on the premises had to move out until the repairs were complete. Often these properties had to be razed.

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