delaying closing

Asked by Joanne, Canton, MA Mon Aug 25, 2008

I was informed that the seller (the bank) has to come to closing with a clear title, they told me there is a missing assignment, (which has been found) however they are still delaying, supposed to close on 8/15, told on 8/14 wouldn't due to seller unable to obtain a clear title????

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Michael Giles, Agent, Beverly, MA
Mon Aug 25, 2008
BEST ANSWER
Hi Joanne,
If you give me the address I can try to make some sense out of it for you. You can use my link to contact me or e-mail me at mgiles@kw.com.
0 votes
The Moores', , Templeton, MA
Wed Aug 27, 2008
Dear Joanne,

This happened to a client of mine and after 4 months my buyer walked. However, the bank/seller had to relist and to an additional loss of $15,000. on top of a several hundred thousand dollars with list agent.

Another deal started to fall apart when we realized the 1930 subdivision plans didn't match the deed and my client didn't technically own the land his house was on (which he purchased in 2000 from the orginal buyer from 1930.) We were able to locate a son of the past owner , straighten out the typo for the lot next doorand still pass title to the new buyers on time.

My point: If you the buyer are still interested and the selling bank is still wanting to sell to you. Then you still have a deal. Its known as a meeting of the minds in legal circles. Just keep your documents up-to-date and find a solution to the problem.

Un-Clear title could be taxes, past mechanic liens, unknown beneficiaries, missing registry documents. A good Attorney can usually get the job done with a title company and some phone calls.

Feel free to call us anytime for Moore information

-Karissa
0 votes
Nice response
Flag Thu Mar 7, 2013
Andrew Adams, , 01915
Mon Aug 25, 2008
If they have the assignment then the delay makes no sense. I am guessing that there is more to the delay than the assignment.
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