Hi, just in the process of buying a foreclosure, and according to courthouse records house was purchased by married couple in 1998. They divorced in 2002 and the property was QCD to ex-wife. It went into foreclosure and to sherriffs sale 1/06. I am “assured” of a clear title according to the realtor. In Iowa the real estate transaction is done with an attorney giving a title opinion. I have been told that you cannot use title insurance in Iowa does anyone know if this is right, or know where to find the answer to this question? Would appreciate anyone’s knowledge about this subject. Graciez
Anyone have any ideas? Graciez
Will the Realtor go to court with you and pay for the title repairs if his/her “assurance” goes awry? Probably not.
In my opinion, title insurance is a must especially in domestic dissolution cases. How do you know for an absolute fact that the wife didn’t forge the QCD? The questions could go on and on…
My two cents…(pre-tax)
Keith
I agree with Keith.
I hate paying for any type of insurance. However, they sure come in handy when you need them.
A small amount now can save you alot of grief later.
Thanks a bunch. Any ideas on where to purchase title insurance? Like I said Iowa does not go that route usually an attorney does the title opinion and you just go by that. Graciez
From a Title Company…
About 1/2 my closings are at the title company anyway…your attorney should be able to point you in the right direction. My RE attorney even sells it…
In your area:
Iowa Title Company
315 6th Street Suite 200
Ames, IA 50010
(515) 232-6282
Keith
Thank you! Graciez
In Iowa a real estate transaction is done with an attorney giving a title opinion. I have been told that you cannot use title insurance in Iowa does anyone know if this is right, or know where to find the answer to this question? Would appreciate anyone’s knowledge about this subject. Graciez
Kdhastedt,
Take a look at this link I found an article about title insurance in Iowa. It looks like it is prohibited.
Hmmm…I wonder what this title company does for a living, then…maybe that’s what they call the Mafia in Iowa. If you go htere see if everyone has a crooked nose!
Keith
Cute, See my post under rehab forum-deal is maybe a no go now thanks to the bank! Graciez
I saw your post…see how domestic dissolutions can “muddy the water”? They can really cloud a title, too…
…and so much for the assurance of a clear title from the Realtor!
Keith
YUP! I am supposed to close this Friday. I keep calling my realtor and getting updates. Now he thinks that the banks people recall that they gave the new hunnybunny proper notice but they have to dig through their files. In the mean time the listing realtor is possibly going to prepare a QCD for him to sign. What fun. Graciez