Home Buying in Hobart>Question Details

Tess, Home Buyer in Hobart, IN

Ready to close and found out title wasn't clear because lady's daughter had been put on title and she had bankruptcy. Supposedly at this

Asked by Tess, Hobart, IN Thu Feb 25, 2010

point the creditors had their allotted time and none came forward and now we're waiting on the judge to clear the title. Was told that it takes 10-20 business days which 20 days would be either tomorrow the 26th or Monday March 1 Anyone know how long this could actually take? Been2 1/2 months thus far to this point we are at. Ready to pull out because no compensation given for my many inconveniences.

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Tess you should have your buyer broker or yourself call the closing attorney that is working on closing, and ask for an update. They should be able give some sort of approxomate and if they dont know,. ask them to contact who ever is working on the title to find out. Normal times on average are 30 days to clear the title, some are shorter and some are longer, the key is to stay on them every day, a daily reminder moves them along a little quicker sometimes. As far as compensation for lost time, the contract usually allows teh seller 30 days to fix any defects and usually nothing is given to the buyer, but it never hurts to ask. good luck in getting things worked out.
Web Reference: http://www.ScottSellsNH.com
0 votes Thank Flag Link Fri Feb 26, 2010
Tess, You are in a difficult situation. If you pull out and start from scratch, you will be looking at another 30-60 days if you find the right house right away. I think I would talk to all the parties involved to find out how things were actually moving and consider looking, but not pulling out unless you find something you like much better. You can look while you wait, just don't fall in love until you know a bit more.
I hope it goes well for you.
0 votes Thank Flag Link Fri Feb 26, 2010
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