Updated over 10 years ago on . Most recent reply
Title Issues with a Foreclosure Purchase from an Auction
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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- Real Estate Consultant
- Summerlin, NV
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something is not right with what your saying most if not all contracts have a clause that the selling must be able to pass marketable title.
Steve gives good advice get your own title report
- Jay Hinrichs
- Podcast Guest on Show #222
