I WILL BE RESPONSIBLE FOR TITLE 5 DO I HAVE 2 YEARS FROM TIME OF TRANSFER TO GET MY SEPTIC INSPECTED? THE HOUSE IS A FORECLOSURE

Katie
Home Buyer
Dartmouth, MA

Answers (2)
Raymond Cardoza
Agent
Middletown, RI

Hi Katie,

Here is the gist of what you are looking for. This pertains to title transfer by Foreclosure or deeds in lieu of foreclosure: Within two years before or six months after the execution of the memorandum of sale or delivery of the deed in lieu of foreclosure to the foreclosing institution or the loan servicer. An inspection conducted up to three years before the time of transfer may be used if the inspection report is accompanied by system pumping records demonstrating that the system has been pumped at least once a year during that time.

As far as the Redemption period goes, that is a legal question best answered by a Real Estate Attorney. Even though we Realtors may know the answer to some of these questions, it is best to talk to a legal professional.

Ray Cardoza
Keller Williams Realty
RCardoza@KW.com http://www.Your SoCoRealtor.com
Ranked #1 in Buyer Representation by JD Powers & Assoc. 2 Years Running.

Fri Oct 2 2009, 20:54
Chino Hills Hom...
Agent
Chino Hills, CA
FIRST ANSWER

Hey Katie take a look at this site see if this helps. http://www.mass.gov/dep/water/wastewater/faqsprop.htm

Fri Oct 2 2009, 18:46

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