Q: I want to purchase my deceased grandmother's home in Deland, FL
from my uncle who inherited the house. It will be a cash sale. He wants to use an attorney to close the sale and not a title company. I want a warranty deed. Is title insurance also necessary or does a warranty deed eliminate the need for it? Is it his obligation to provide me with a warranty deed at the sale or is this something I must insist upon with the attorney? How do I go about making sure I will have this? Who is responsible to pay for it? Is it costly? Thanks.
A: You want title insurance as well as a warranty deed. Absent any agreement to the contrary, you would pay for the title insurance and your uncle would pay for his attorney. You don't need your own attorney, but I suggest you get one; it shouldn't cost very much and might save you large amounts of money.
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A: You will need an attorney to draft a Contract and handle the closing. Title Insurance is a standard provision in all Real Estate Sales Contracts and is paid by the seller. If you choose to waive Title Insurance and there proves to be some defect, your only recourse would be against your uncle. The cost for Title Insurance is a function of the sales price and is not terribly expensive. I would contact an attorney for a quote for closing services and Title Insurance before you make that decision.
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