Do I own a home - not sure.?

Asked by Sunshin49, Tampa, FL Wed Jan 27, 2010

I believe I just closed on a home about a couple of hrs ago. Reason why I say "believe" I have all this paper only my signature. As the "seller" which is a law office (foreclosure) lives in Plantation, FL. And I'm here in Tampa, Fl. I have given them the down payment cashier check. I believe I have done everything I needed to. However, I am unable to have the key until they recd the documents and determined that the "cashier check" is good (I guess) which could be late tomorrow (Thurs) or early (Fri) depending on if the notary gets the pkg to them tonite. Not only the "seller" my lender keeps sending paperwork for me to sign I had to go back to the bank's realtor ofc to sign more paperwork and coming home got a call saying my lender forgot to send some more paperwork and I need to meet her tomorrow to get those signs. So do I own a home I have no clue. Afraid to do any work in the home and moving on the 31st

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Chris Suarez…, Mortgage Broker Or Lender, Spring Hill, FL
Wed Jan 27, 2010
The seller that you are speaking of in Plantation, FL is probably the title company/foreclosing attny (maybe Watson Marshall or Florida Default). There are a few there. What you are describing is all normal w/ the exception that so many people forgot to get you to sign things. This sounds like maybe someone did not get all the documents together before getting to the notary. Your Broker/Bank should have been able to explain and help you with all of this. I am a Broker and I walk my clients thru all of this because it can be very confusing. The deal is really not final until the title company has the original signed documents and your down payment in their hands. They are the ones that collect your monies as well as your finance company sends the loan amount to them too. Then the title company overnights and wires everyones monies and paperwork to them and you have the keys. You should actually get the keys to the house and it is yours once they receive the monies, documents, and your lender says "ok, it is funded". This means that they have all that need to confirm and the title company is allowed to send the money to the seller, etc.

I hope this helps you.
Chris Suarez
0 votes
Mark LeMenag…, Agent, Lake Nona Orlando, FL
Fri Jan 29, 2010
Hi Sunshine,

Sounds like the problem here is the "totally different story" about your agent. What you describe is normal. I've done closing with Stern as well. Your agent should have provided you with proper expectations so that you would understand the process. If you feel they have done a poor job then by all means complain to the Florida Real Estate Commission and if that is too much, then at least complian to their broker.

Best Regards, Mark
0 votes
Sunshin49, Home Buyer, Tampa, FL
Wed Jan 27, 2010
Actually the atty is David J Stern PA

This does makes me feel better and not feel like "I'm being made a fool of" at least I know it's the norm unfortunately. Patience is something I had very little of but have gained a lot of....:)

Thanks again
0 votes
Nadine Mauro, Agent, Lake Worth, FL
Wed Jan 27, 2010
Unfortunately in a foreclosure sale a lot of "work" is done by fax and email, and not face to face.

Regarding your agent: If they were sick and unable to attend the closing, they should have sent an associate or their broker. If the agent has not been performing, give their managing broker a call and file a complaint. Someone should have been guiding you through this process.

Hopefully everything will be processed tonight and you will have your keys tomorrow. Good luck in your new home.

Nadine Mauro
Realty Hub, Inc.
0 votes
Sunshin49, Home Buyer, Tampa, FL
Wed Jan 27, 2010
I don't have an attorney and my agent was sick and couldn't show up for the closing. My agent is a totally different story. I have been thru this process pretty much on my own from day one. But that's in the past. I'm confident in the paperwork I have signed it's just waiting for it to be recorded I guess. I'm not use to doing things by fax/email, etc. No face to face contact with people.
0 votes
Lou Molnar, , Land O' Lakes, FL
Wed Jan 27, 2010
If you are worried, hire an attorney. Most of what you are going through sounds pretty normal for a foreclosure closing. Who represented you in this transaction.
0 votes
Anna M Brocco, Agent, Williston Park, NY
Wed Jan 27, 2010
What is your attorney and or agent advising--and why are you signing documents if you don't know what they are--without knowing exactly what was signed, it sounds like you're almost there if all you're waiting for is the recording--again what is your agent and or attorney suggesting.
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