Asked by Annoyedinsd, San Diego, CA • Thu Dec 3, 2009
Loan funded today, I (buyer) contributed all funds. Today was closing day.. Escrow said we were done, Title had everything and was set to record, but called late in the afternoon and said that they found a judgement against the seller after going over his statement of information. It didn't show up on title for the property which is why they allowed loan to fund in 1st place. My lender said they did a title search too and didn't see it because it is a judgement against the seller himself and not specifically against the house. Seller claims lien is not him (even though the name is very uncommon). If it does turn out to be him, it is very large and would cause the sale to fall through. Meanwhile i'm fully funded, paid in, and am accruing interest on a mortgage. If the sale falls through, what happens as far as all of the fees owed to escrow, title, lender, etc etc that I just paid escrow to cover? Suing the seller wouldn't get me anywhere, he is broke and this is a short sale.
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