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Updated over 10 years ago on . Most recent reply

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111
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Sam Sagor
  • Residential Landlord
  • Kailua-Kona, HI
15
Votes |
111
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Anybody have insight about clearing titles?

Sam Sagor
  • Residential Landlord
  • Kailua-Kona, HI
Posted

I have a house I'd very much like to purchase but there a complication : This house was foreclosed on. The proceedings went through as normal but the commissioner forgot to close escrow after the case was resolved. 

Now the title officer said they won't insure it. Because the escrow was not closed ( within 30 days ) they think it's outside their expectations. 

To make this work I need clear title at some point in the near future. As I have cash for the purchase price I can buy but I would need to be able to get title insured - what are my options?

Can I foreclose on the property again /(other other legal action) or is there a lenient title company out there I don't know of yet? There is nothing else wrong with the title it's just a paperwork technicality.

Thanks - I really can't tackle this one on my own and appreciate your help

Most Popular Reply

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Jim Viens
  • Rental Property Investor
  • Kansas City, KS
222
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604
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Jim Viens
  • Rental Property Investor
  • Kansas City, KS
Replied

I'd contact a real estate attorney. They'll be able to advise you on your best course of action. I'd also check with the auction house and see if the property could be purchased subject to the title being cleared. If you're really not comfortable with the title situation you may need to just pass on this one. Unless the seller gets it straightened out in the next couple of days there's not really anything that can be done before the auction closes.

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