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Lindy, Home Buyer in Georgia

Title is not Clear... How long does the process take to fix this?

Asked by Lindy, Georgia Wed Nov 19, 2008

We recently put a contract on a foreclosed house and was supposed to close this week. The selling agent called and said that the title is not clear and they need to find the original owners to have them sign it off, than put it under the foreclsed banks name than into mine. How long do you think that should take? Also we have alreay 6 weeks to close and now they bring this up. My rate expires in a few days so every ten days I have to pay a few to extend my rate. I do not think that is my fault! But it is the sellers.

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There is no way to offer a guess on that. I don’t see why the bank would need the seller to sign anything unless something was done incorrectly in the foreclosure process. I bought one where the bank had to re-foreclose. Then after they re-foreclosed I had to wait another two months for them to get the foreclosure deed recorded. The former owner may not be real happy with the bank that foreclosed on them and may not be very cooperative so getting them to sign of my not be as easy as it sounds. Then again they may sign right away to get it over with. Bottom line there is no way to know how long it will take until it is finished.
0 votes Thank Flag Link Tue Jun 12, 2012
I have seen where it takes up to 2 months to clear a title so it depends on the problem but it should not be too difficult to find the original owner because of the internet. The attorney should be to the original owner and explain the situation to them and I think that the previous owner will co-operate. I was in this same situation a year ago and it worked out for all of us. Good luck!
0 votes Thank Flag Link Mon Jun 11, 2012
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