That's fine if the person wants to assume the personal risk.
However, transactions with LENDERS will always require a professional search and title insurance.
As a licensed title producer, I have search property that I am interested in before making an offer. But I know what I am looking at and what to search for.
Just like self-insuring, don't worry - we are not at that place yet where, in the USA, most people expect at the very least is a professional Report on Title.
If there is no insurance issued, the buyers/sellers assume all the risks - Let the Buyer Beware.
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