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kgs11
LIF Adult
Member since 2/07 1424 total posts
Name:
Kim
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Title issues
How long do they typically take to resolve?
What's the longest you've heard of/experienced?
Trying to get an idea and some perspective on an issue.
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Posted 1/8/13 5:46 PM  |
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blustar214
So in love with my little girl
Member since 1/10 2471 total posts
Name:
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Re: Title issues
Can you explain the issue you are dealing with at this point?
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| Posted 1/8/13 5:54 PM |
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kgs11
LIF Adult
Member since 2/07 1424 total posts
Name:
Kim
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Re: Title issues
Someone who bought a house from a builder is now trying to sell. Can't close bc of a title issue that is supposedly being dealt with. This has been going n for two months.
Just trying to get an idea on the typical time frame to get title issues fixed and see if I'm being told the truth about the situation.
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| Posted 1/8/13 7:00 PM |
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MrsG823
Just call me Mommy.
Member since 1/11 5570 total posts
Name:
S
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Title issues
Title issues can take a long time to resolve. It was one of the things my lawyer warned us about.
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| Posted 1/8/13 7:24 PM |
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blustar214
So in love with my little girl
Member since 1/10 2471 total posts
Name:
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Re: Title issues
I don't have a lot of experience with this, but I have been working on a case centered on a title issue for the past 5 years, and the case has been going on for longer.
Like the pp said, in my (very limited!) experience it can be a long process.
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| Posted 1/8/13 9:04 PM |
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Re: Title issues
There are so many types of title issues but once something comes up it can take a very long time.,
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| Posted 1/8/13 10:26 PM |
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babyvontheway
LIF Adolescent
Member since 6/12 568 total posts
Name:
Jen
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Re: Title issues
I have a title company and title issues can take days to months based on the issues that arise. Some title issues never get resolved. Personally when we bought our house we had a few title issues and it took from November til April to close ( and I was the title company working on it) fm Meir you have questions
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| Posted 1/9/13 12:02 AM |
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Re: Title issues
Yeah - "title issues" is a pretty broad term. I would agree that how long it may take to resolve an issue depends on what the issue is. Getting clear title is the most important piece of the transaction for the buyer!
One thing that has cropped up on a few different sales for me, recently, is that an old mortgage was paid off but the mortgage satisfaction not properly recorded. So if it shows up on a title report, the lender holding the mortgage has to be contacted to get it cleared up, but it's not always so simple because a lot of banks have gone out of business, been consolidated with other banks, etc. But that type of thing usually takes a few weeks to clear up.
C/O issues also come up when title is run, but those can usually be dealt with.
There are other types of issues that are not as easily resolved... What does your attorney say?
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| Posted 1/9/13 12:10 PM |
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kgs11
LIF Adult
Member since 2/07 1424 total posts
Name:
Kim
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Re: Title issues
It's not us, directly, but our potential buyers (of our co-op). We negotiated price back in November, but didn't settle on a final # bc they had to close on the sale of their house.
It's been a good 2 months of title issues so far, probably longer but it's only affected us for 2.
Just wanted to gauge how reasonable that time frame was, and how much longer we should entertain the "excuses".
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| Posted 1/9/13 7:17 PM |
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