Title issues- vent

DH and I have been in contract since April. This house has been a pain for numerous reasons including the listing agents who are extremely unprofessional/crazy but that's another story.

So we get approved to close by our bank but we just found out from our attorney that there are several title issues and 1 open housing violation. Our attorney's receptionist told us that the bank may have approved us to close based on credit/income but the bank's attorney won't let us close.

So we ask our attorney's receptionist what the title issues were, the severity of them and the $$ involved and she basically said "I don't know. I don't have the file in front of me." She just said that our attorney forwarded them to the seller's attorney and said the seller must fix them before we could close. She also suggested I contact the listing agent to make sure that the seller will take care of them. My attorney's receptionist knows how crazy and nasty the listing agent is. She told me she once hung up on her because she is so rude and nasty.

Has anyone dealt with title issues so close to closing? DH and I thought we were going to close next week. I'm so annoyed at everyone at this point. It seems like my attorney's office doesn't want to do any work. If I tell the listing agent, she will just say that there are no title problems and that my attorney and my bank made that up. (Yeah she is that crazy).

I emailed my loan officer at the bank to see if he could get me a copy of the title report. So far, I haven't hear back. I just don't know what to do.

Re: Title issues- vent

You need to speak with your attorney and not just the receptionist. That isn't professional of your attorney either. It isn't your job to chase down the listing agent.

Re: Title issues- vent

we are dealing with a similar issue. had committment letter from bank for over a month now, but there are title issues. our attorney originally said it was no big deal. but in speaking with the seller's attorney, it is a big deal.

so now seller's are trying to fix the issue (long story short: they satisfied one of their mortgages, but it came up in the title search. and since the original lender went out of biz they are having trouble finding the paper work )

so basically, we are in a total limbo/holding pattern.

since its not on his credit report, they are hoping that old bank statements will resolve this issue.

but, i should point out, they we received a copy of the title report as soon as it was issued. you paid for it, so you should definitely have a copy to look at! then you should speak with seller's attorney to figure out exactly what the issue is and how long it will take

good luck!!!!!!

Re: Title issues- vent

Posted by femalej

we are dealing with a similar issue. had committment letter from bank for over a month now, but there are title issues. our attorney originally said it was no big deal. but in speaking with the seller's attorney, it is a big deal.

so now seller's are trying to fix the issue (long story short: they satisfied one of their mortgages, but it came up in the title search. and since the original lender went out of biz they are having trouble finding the paper work )

so basically, we are in a total limbo/holding pattern.

since its not on his credit report, they are hoping that old bank statements will resolve this issue.

but, i should point out, they we received a copy of the title report as soon as it was issued. you paid for it, so you should definitely have a copy to look at! then you should speak with seller's attorney to figure out exactly what the issue is and how long it will take

good luck!!!!!!

Re: Title issues- vent

Speak to your attorney so you know what the issues are. Then can be very minor or major. Then you can have a plan of attack. The bank may be ok holding escrow from the seller (as long as you are ok with it) but it really depends on what the issue is

Re: Title issues- vent

Posted by marianne13

Posted by femalej

we are dealing with a similar issue. had committment letter from bank for over a month now, but there are title issues. our attorney originally said it was no big deal. but in speaking with the seller's attorney, it is a big deal.

so now seller's are trying to fix the issue (long story short: they satisfied one of their mortgages, but it came up in the title search. and since the original lender went out of biz they are having trouble finding the paper work )

so basically, we are in a total limbo/holding pattern.

since its not on his credit report, they are hoping that old bank statements will resolve this issue.

but, i should point out, they we received a copy of the title report as soon as it was issued. you paid for it, so you should definitely have a copy to look at! then you should speak with seller's attorney to figure out exactly what the issue is and how long it will take

good luck!!!!!!

See, our attorney's receptionist told me that I CANNOT speak to the seller's attorney because it's a conflict of interest. I wish I could speak to him.

Re: Title issues- vent

Posted by marianne13

Posted by femalej

we are dealing with a similar issue. had committment letter from bank for over a month now, but there are title issues. our attorney originally said it was no big deal. but in speaking with the seller's attorney, it is a big deal.

so now seller's are trying to fix the issue (long story short: they satisfied one of their mortgages, but it came up in the title search. and since the original lender went out of biz they are having trouble finding the paper work )

so basically, we are in a total limbo/holding pattern.

since its not on his credit report, they are hoping that old bank statements will resolve this issue.

but, i should point out, they we received a copy of the title report as soon as it was issued. you paid for it, so you should definitely have a copy to look at! then you should speak with seller's attorney to figure out exactly what the issue is and how long it will take

good luck!!!!!!

See, our attorney's receptionist told me that I CANNOT speak to the seller's attorney because it's a conflict of interest. I wish I could speak to him.

Re: Title issues- vent

I agree that you should speak to your attorney before you panic. There are a wide array of title issues, so it's hard to comment on how serious this is, and it's your attorney's job to make you aware of these types of problems. But it may not necessarily hold up closing... different lenders have different rules, and what won't fly with one bank will be ok with another. So I don't see how the receptionist can make that statement, unless she or your attorney has actually spoken with the bank attorney and has been told the issue must be resolved before you can close.

But is your attorney a real estate attorney? I am asking because if you have been in contract since April, I don't understand why title issues are just coming to light now. The real estate attorneys that I work with and recommend usually run title as soon as we are in contract, and it usually takes only a couple of weeks to get a title report back. But it's much better to run title asap to allow time to resolve things and not have unpleasant surprises at the 11th hour when people are dealing with time pressure, rate locks, etc.

Finally - I think the OP's vent about the listing agent is just another reason why buyers should choose their own agent to work with, so they have someone they like/trust to help facilitate the process and resolve these types of glitches that come up. You don't want to be forced to communicate with an agent you don't like and have to rely on them to get you through the process! Since it sounds like OP doesn't have a buyer's agent, the attorney is the best ally here, so I would go directly to him (not the receptionist!).

Sorry you are going through this. These things can usually be worked out (aggravating as they are), and it will all be a faded memory when you are enjoying your new home!

Re: Title issues- vent

Message edited 7/17/2013 5:25:16 PM.