When buying a home or any real property in Texas, you may have an offer to buy title insurance. This is an expensive line item charge on the Closing Disclosure or Closing Statement charged by the title company. You should make sure that you understand what this is, how it works and why you may want to get it.You also need to get information so you can make an informed decision about buying it.
Every real estate transaction involves a significant number of legal issues. Every risk can be analyzed as either high or low probability and a high or low expected cost. For commercial transactions, nearly all legal decisions involve a high expected cost. For residential transactions, most decisions carry a relatively low penalty. The pivotal decision is knowing when to hire an attorney to protect your interests and when to rely on "your gut."
Prior to the 1960s, Texas was a state, which meant that it adhered to a "buyer beware" policy in real estate transactions. However, in 1968, the Supreme Court of Texas expressed its distaste of the caveat emptor doctrine when it comes to the sale and purchase of a home, stating that it did not placate the demands of justice.