%
Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime
×
Take Your Forum Experience
to the Next Level
Create a free account and join over 3 million investors sharing
their journeys and helping each other succeed.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
Already a member?  Login here
Foreclosures
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 9 years ago on . Most recent reply

User Stats

18
Posts
6
Votes
Stephanie Preasha
  • Investor
  • St. Petersburg, FL
6
Votes |
18
Posts

Bank unable to provide marketable title by closing date

Stephanie Preasha
  • Investor
  • St. Petersburg, FL
Posted

I had a closing date of today in which I had a SFR under contract to purchase. I was informed by my agent that the LA stated WE needed to send them an extension addendum to which my agent replied we are not the ones requesting the extension so the seller should supply this.

Title agent gave a list of items to be completed before sale of home including a death certificate needing to be recorded, a re-foreclosure against heirs, etc.  These items seem like they could take weeks and possibly months.

I know I can elect to have my EM refunded but I found it strange that the LA did not feel it was his responsibility to provide an extension request to me.  

Has anyone dealt with a case like this?

Most Popular Reply

User Stats

23,418
Posts
13,510
Votes
Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
13,510
Votes |
23,418
Posts
Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
Replied

Your agent really thought that?  BTW, if you're interested you can go to the county clerk of court, court case records search, and pull up the foreclosure case file.  You can see what happened when, what parties were served, etc. and follow any reopening of the case.  If they do indeed need to reopen/vacate the sale and amend the foreclosure, it's almost guaranteed they will cancel this contract, as it will be months before it gets back to another auction.  If you can't find the case file by the defendent's name, you can search by case number, which you will find at the top of the LP and Final Judgment recoded documents....it will look something like:   00 2013(year of filing)xx 001000 xxxx xx.

Loading replies...