Updated over 9 years ago on . Most recent reply
Title search
I'm in the process of buying a short sale . The seller accepted my offer now I'm waiting on the lender to accept my offer. The lenders lawyer send an addendum stating they want to do the title search is the this normal?
Most Popular Reply
To do a title search on the property before they sell it to you? sure. I don't know how it works in the state of Pennsylvania but in California the objective is to make sure title is clear before property is delivered to end buyer.
What you will have to deal with now is something called a BPO (Broker Price Opinion). These are common with a short sale. The lender wants to check the value of the property so they will send out someone to do a BPO. If the offer is too low, the lender can reject it.