HBuyer, Home Buyer in Brooklyn, NY

Trouble with the seller's deed, the house can not be closed.

Asked by HBuyer, Brooklyn, NY Fri Jun 4, 2010

The house can not be closed until the seller clears the deed due to there are people who had passed away on the deed. This causes issue because in order to qualify for the First Time homebuyer tax credit , the house needs to be closed on or before 6/30/2010. What can be done to expedite the process?

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9
Rhonda Holt’s answer
Luckily, if you are already in contract the Senate passed the vote for the Tax Credit to be extended until September 30, 2010. That means you still have time to close.

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Web Reference: http://www.RhondaHolt.com
0 votes Thank Flag Link Sat Jun 19, 2010
Is an attorney or a title company conducting the closing? Have your agent find out from whichever one is closing how long they expect this to take. If the survivors have a Certificate of Death, you may make it in time. If the survivors, or their representative, has to request a Death Certificate in order to quiet the title, that may take longer.
0 votes Thank Flag Link Sat Jun 5, 2010
You'll need to hire a real-estate attorney; s/he will probably end up filing a quiet title action.
0 votes Thank Flag Link Sat Jun 5, 2010
In addition to consulting with your attorney you should also visit a tax specialist to determine if there are any loopholes in the tax credit law that you might be able to take advantage of. Perhaps due to extenuating circumstances there may be exceptions to the June 30 deadline, and there is a way to extend the tax credit in situations like yourself. If you need a referral to a tax specialist, we know someone personally who is excellent whom we can recommend. Call us, and we will give you his contact information.

The answers regarding consulting with your attorney we agree with. Finally, if you are working with an agent hopefully he or she is touching base with you and informing you of all developments. If you do not have an agent, our advice is to call someone. If we can be of further assistance, please call us at 917-593-4068 (David) or 646-318-5031 (Bonnie).

Good luck to you, and I hope it all works out in your favor!

Best regards,

Bonnie Chernin & David Rogoff
Fillmore Real Estate
2926 Avenue J
Brooklyn, NY 11210
E-mail: david@BestHomesInBrooklyn.com
David Mobile: 917-593-4068
Bonnie Mobile: 646-318-5031
0 votes Thank Flag Link Fri Jun 4, 2010
The attorney will read the title report & then only schedule a clossing.
If the title is not clear im sure no attorney would like to come on for a clossing.
U will hv to consult him.
0 votes Thank Flag Link Fri Jun 4, 2010
Dear HBuyer:

You need to speak to your attorney about this and if he or she cannot help you then speak to another attorney for a second opinion. Your lawyer will be working with a title company that researches these things and should be able to help figure out what needs to be done to solve the problem. I have several questions... Is there an estate preceding? Are there any other estate objections that need to be cleared?

In order to close the title company must approve the title. Until that happens the title is not conveyable or insurable and the bank where you went for your mortgage will not close. To give you more input I would need more information. If you want call me and we can discuss this further.

Most importantly, make sure your attorney is on top of it.
0 votes Thank Flag Link Fri Jun 4, 2010
You will need death certificates for the parties as well as documentation to prove you have the right to sell the property. The solution is with your attorney and the title company!
0 votes Thank Flag Link Fri Jun 4, 2010
Your attorney can best advise you as it relates to your specific situation--if you haven't consulted with him/her, do so--also, what is your agent suggesting.
0 votes Thank Flag Link Fri Jun 4, 2010
I am not sure why you are asking this question on Trulia- get a hold of your agent and get busy.
Web Reference: http://topbrainerdagent.com
0 votes Thank Flag Link Fri Jun 4, 2010
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