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HELP - HOUSE HUNTING!!!
posted to General Discussion
in Stafford Va Moms
on May. 27, 2009 at 2:36 PM
- 2 Replies
- 57 Total Views
So, back in March we found a house that we wanted to buy and he signed the contract and did everything they told us to do....ie.....pay for the deposit.....house inspection......and everything else that needed to be paid before we could get our closing date. Come to find out that the house that we are trying to buy has title issues from the previous owners!!! Long story short we gatta wait 4/5weeks until we can get paperwork that clears up the title issue if it can even be cleared up!!! 
Hubby and I want to start looking for a NEW HOUSE!!!!!!! We're thinking of saying screw it and getting a new house b/c we can break the contract since they are giving us issues!!!!!!!! So if you ladies know of any houses available that's in the 160's price range and is a single family home that's built anytime AFTER 2000 that's in Fredericksburg, Culpeper, Stafford, Dale City, Dumfries, Aquia Harbour area then let us know!!! Thanks!!!
Replies:
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- by on May. 27, 2009 at 3:26 PM
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I'd be more than happy to help - I just sent you a message with my contact info.
Prior to you moving forward, we should definitely talk to make sure there are no penalties for you breaking your contract. I'd hate for you to lose your earnest money deposit..
If the home that you are currently under contract with is a foreclosure, it's common to have title issues. Oftentimes after the bank forecloses, the trustee doesn't go to the courthouse and change the deed. The deed has to be in the bank's name, not the owner who defaulted. I'm not sure if you've ever looked at tax records before but a record shows all the owners of that particular house, first owner to present owner- sort of like a chain if that makes sense. If that's the problem with the title of the house you are/were planning to buy, it can be fixed. It's just a matter of someone going to the courthouse to correct the problem. Typically with foreclosures, it can take 30 - 45 days close or sometimes a bit longer. That's totally normal these days.
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- by on Jun. 3, 2009 at 10:36 AM
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Quoting Alakazam:
I'd be more than happy to help - I just sent you a message with my contact info.
Prior to you moving forward, we should definitely talk to make sure there are no penalties for you breaking your contract. I'd hate for you to lose your earnest money deposit..
If the home that you are currently under contract with is a foreclosure, it's common to have title issues. Oftentimes after the bank forecloses, the trustee doesn't go to the courthouse and change the deed. The deed has to be in the bank's name, not the owner who defaulted. I'm not sure if you've ever looked at tax records before but a record shows all the owners of that particular house, first owner to present owner- sort of like a chain if that makes sense. If that's the problem with the title of the house you are/were planning to buy, it can be fixed. It's just a matter of someone going to the courthouse to correct the problem. Typically with foreclosures, it can take 30 - 45 days close or sometimes a bit longer. That's totally normal these days.
for responding to my post ;) I'll keep ya'll Ladies updated on what we end up finding lolhttp://www.cafemom.com/group/VAPLAYGROUP
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