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Foreclosures

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Senta J.
Pro Member
  • Investor
  • Columbia, MD
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Title Issues with a Foreclosure Purchase from an Auction

Senta J.
Pro Member
  • Investor
  • Columbia, MD
Posted May 20 2015, 09:52

I am a newish member to BP. I have a little problem and was hoping someone can point me in the right direction. I am in the process of buying my first flip. I won an auction, had a closing date set for this week and now they're saying there is a problem with the title recording with the county (Baltimore City) and closing will be delayed.  

There is a clause in the contract that basically says they can sell us the property with title issues. Is there a way for me to find out what's going on with the title? The title company is not communicating much. It's my understanding they actually work for the seller, right? We're not sure what to do at this point. Is this something not to go through with the deal over? 

Any help would be greatly appreciated!!

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