Paul Stupin
New DVC Member
- Joined
- May 8, 2016
When buying resale, it’s my understanding that title insurance is kind of a necessary expense, because it protects the buyer from any issues that might pop up regarding chain of title, such as the deed being contested in a divorce, estate issues, probate issues, etc. It could be a huge mess if the buyer thinks he owns the contract but actually doesn’t, because the seller wasn‘t actually able to sell it legally.It’s highly recommended that you purchase title insurance, but I don’t think you need it if you’re purchasing in an all cash deal. For some reason, title insurance is much higher in Hawaii for Aulani sales, so my broker recommended skipping it. I actually don’t know how much title insurance costs, but my original escrow fees without title insurance were estimated at $550-650.
Many people skip title insurance when buying direct because it’s pretty clear that Disney owns the points they’re selling. I don’t think it would be a good idea though to forego it when buying resale.