Transfer of Grant deed
The grant deed was transferred and recorded with My husband and I as the new owners. The first position lien was also filed and recorded. Lender was shut down by FHA the day AFTER the wire was to come through to fund our loan. Escrow acct was handled by an unqualified escrow officer assistant because the escrow officer was on vacation. So We now have a binding mortgage loan without funds being received and I am the recorded owner of a home that I did not pay for except the down payment and closing costs.
I would recommend getting together with the Broker that represented you (not the agent, the Broker) and a real estate attorney and get it sorted out, sounds like a bit of a mess. Some brokerages have attorneys on staff and they can also consult with CAR legal dept (if they are Realtors)
Please follow up and let us know what happens
Teri Andrews-Murch, Realtor®, SRES®
DRE CA Lic # 01734030
Lyon Real Estate
1900 Grass Valley Highway, Suite 100
Auburn, Ca, 95603
Direct Ph: 530-798-0215
Is there a question here? It is amazing this even happened. I have never heard of recording without funds before! Wow. Without more facts I would hesitate to give a lot of details. I would meet with you anytime to discuss it in depth.
First, I would say the escrow and title company would probably be your solution to fix this quickly. I would also say that the loan could be re-done again with another company to complete the transaction. Did they give you keys to move in? I would make sure you have insurance on the home while you wait.
Let me know if you would like to meet and discuss this futher,
Janet Fullmer / Broker
Network Real Estate
530-277=5138
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