Updated almost 9 years ago on . Most recent reply
Hold harmless agreement for buying a Note?
Hello, everyone I'm starting to invest in notes. Currently buying my first note. Already signed the PROMISSORY NOTE and MORTGAGE AGREEMENT. At this point we are waiting for the Title Company to close the deal.
The Title Company is asking me to sign a Hold Harmless Agreement with the following content.
The LENDER acknowledges they will hold THE BROKER and THE TITLE COMPANY harmless from any claims of liens or interest against said property including but not limited to delinquent water bills, current and delinquent taxes, mechanics liens, mortgage liens or claims of interest.
Is this usual ? Has anyone seen this before ? Any suggestions ?
All your help greatly appreciated.