Home Buying in Detroit>Question Details

Amanda, Home Buyer in

How do we purchase a home that has our neighbors house on the title as well? Is this a messy clean up?

Asked by Amanda, Mon Jun 25, 2012

After the appraisal coming in a little low, and having to fight with the seller's agent to have Fannie Mae lower the price to match so we can get our FHA loan going and done, I had my husband call our bank, Chase, just to find out what's going on. I don't like sitting around and not hearing from anyone- so he got ahold of our original loan officer and he tells my husband that there is a title issue. Apparently the neighbors house is on the title as well, and because of this we cannot get the loan until they are separated. This baffles me because the owners of each parcel are different entities.

Through my research I found that the land our home is on was sold to one entity, then half was sold to another who then built a house on it and sold it to the neighbor. I know for a fact he didn't fork out 255,000 cash to buy it, so how'd he get the loan with the title like however it is, and it's a problem for us?

Any advice on what needs to happen to get this title cleared up?

Help the community by answering this question:



Without having all of the information in front of me, I would suggest you hire a lawyer to review this issue. You may have to involve that neighbor that is also on the title, and both of you sit down with a lawyer to iron this out. It may not affect that neighbor now, but somewhere down the road it will.

It may be worth the money to have this legally worked out. If you don't have the money for a lawyer, call a local Title Company and ask if you could meet with them to research the Titles and give you some answers. You may have to pay them for their time, but at least you will have some answers and maybe even a suggestion from them on what you can do.

I hope this helps and Good Luck!

Thank you,

Elias Realty
(248) 379-6547
0 votes Thank Flag Link Mon Jun 25, 2012
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