So the question of is it necessary? While someone might want to save a few bucks, it is my opinion that it should be mandatory. Even though you are buying a new construction property with a limited chain-of-title, the owner's insurance policy covers the following:
* you are obtaining a property with clear title
* protection from wrong signatures on documents, forgery, etc
* problems with recording documents
* other items placed as liens against the home
My opinion is that it is better to pay a few hundred dollars for the security rather than take the chance of finding out that someone made a mistake on some paperwork and you're left cleaning it up.
