Home Buying in 46805>Question Details

Hartca01, Home Buyer in 46805

Hud not responding. What should we do?

Asked by Hartca01, 46805 Sun Mar 25, 2012

My wife and I placed a bid on a hud home and it was accepted about two months ago. We had an inspection and were ready to close just over a week after that. When they did a title search we found out there were some leans against the house from the guy who foreclosed. Our Realtor keeps calling and leaving message, but no one is responding. The best luck we are having is talking to the title search company, but they are not getting responses either. We want to offer a lower bid before our existing contract is up but do not know how. We let the title search company know and they tried to pass it on, but still no response. Anyone have any advice on what to do or how to get any response?

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You can't renegotiate the price without canceling your existing contract. Then you would need to wait until bids are open again and place a new bid. As far as the lien is concerned, if that was missed during the foreclosure there is a legal process to clear the title. That process will most likely take at least a few month to even over a year.
0 votes Thank Flag Link Sun Mar 25, 2012
Have your agent contact me. I am a HUD listing agent. I can see what I can find out for them.
You cannot renegotiate the price without canceling your existing contract.
More than likely if they found a lien that was missed during the foreclosure they will have to do a strict foreclosure to clear the title. It can take as little as 3 months but I have see up to 2 years!
Joe Leksich
704-6254
0 votes Thank Flag Link Sun Mar 25, 2012
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