Updated over 12 years ago on . Most recent reply
Title issue on forclosure
Currently in the process of purchasing my first foreclosed property in Pa. During title search; my title co is claiming the lot dimensions are incorrect and this issue has been recorded for over 100 yrs, due to property transferring in family without title searches.
Given this, my title co will not offer insurance, until this issue is corrected, my closing is delayed and I am asked to sign another future close date with some doubt with my RE agent's this issue can be resolved. My question is what are the future ramifications, if I decide to forgo the title insurance, keep the deed the way it is and plan to refinance in the near future and possibly sell at some distant future?
Thanks a ton for any help, suggestions.