Updated almost 8 years ago on . Most recent reply
Delayed Closing, Unclear Title
Got a foreclosed REO off the MLS under contract. The selling bank then told me the title was not clear and they have to start Quiet Title Action. They said it will take 3-6 months. I am fine with waiting, but there is a hole in the roof. I told them we need to address the roof issues immediately. They want the cost of the roof repair put into escrow. This all seems fine with me. I added a final inspection addendum to the contract. Are there any concerns I am overlooking? Has anything like this happened to others? What is the normal time frame for QTA? Thanks for any assistance.