Re: Title problem 1-1/2 weeks before closing

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On 8/20/08, John Jones wrote:
> I am supposed to close on a house on Aug. 30 2008. I just
> found out yesterday Aug. 19 that there is a problem with
> the title on the home and the seller will not be able to
> close for somewhere between 30 and 90 days, due to having
> to go through probate, and getting a tax release from the
> state. His brother was listed as a tennant in common, but
> has died, and his widow has not been through probate. I
> have to be out of my home by the first, and was told by my
> realestate agent that everything was a go on my end, and
> we may even possibly close early. Now that this has
> popped up, I really need to know what my options are.
> Thanks in advance for your help and advice.
Does your purchase contract address this issue? No bank
will issue a loan on a clouded title and a property cannot
be transferred without a clear title, loan or no loan, end
of discussion there. Perhaps you can get a holdover lease
on the place you're living now until the matter is cleared
up? This is not an uncommon occurrence.