Foreclosure in Marietta>Question Details

Cathie Gilli…, Real Estate Pro in 30127

Do you have to just sit and wait for a response or is there something we can do to get the ball rolling!!?

Asked by Cathie Gillispie, 30127 Sat Apr 9, 2011

Title issue with foreclosure. In 2008 property was listed and had an offer, closing attorney found a title issue with the lot# on deed. In 2011 back on the market with an offer but issue with title was not corrected. We have extended closing from Feb 28 to April 15. No response from Citi (Corp. owner).

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Your buyer has a few options: 1) continue to wait for Citi eventually clear up that title issue on their own, 2) consult with a real-estate attorney to see if a quiet title action would resolve this issue expediently, or 3) move on to the next deal.
0 votes Thank Flag Link Sat Apr 9, 2011
the listing agent need sto contact the asset manager and get the contact for the attorney handling the title, then call and email daily for updates, if you sit and wait, you will be waiting til 2014, you need to be persistant
Web Reference: http://www.ScottSellsNH.com
0 votes Thank Flag Link Sat Apr 9, 2011
Cathie,

2008 to April 2011 is is bit excessive for even the biggest of title problems. Clearly the lender is short on motivation.....is there a clear understanding of the nature of the defect on the title. Armed with accurate information you you may find an avenue to gain some leverage.

Good luck,

Bill
0 votes Thank Flag Link Sat Apr 9, 2011
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