Time to rant
ledvedderman
Posts: 7,761
So, I'm about 10 days away from closing on a house. Today my realtor calls me and says that there's a bit of a problem. The woman I'm buying the house from helped her granddaughter out in getting a car a couple of years ago. Fast forward to now, the title comes back with a lien on the house because said granddaughter must be a total moron. Little old lady I'm buying the house from doesn't have the $20K to get the lien off of the title so it looks like I'm up shit creek without a paddle and dumping more money into renting for the time being.
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Can't a stipulation be put in your sales contract that $20,000 of the proceeds to the seller goes towards satisfying the lien?
That's a good question. She is selling the house to me for over $15,000 less that what she paid for it several years ago. She's a little old lady on a fixed income. It seems this mortgage and hew new one is too much for her I guess.
http://www.reverbnation.com/brianzilm
That sucks. I know your probably not in the best mood but you could have the grand daughter give you the car along with the house.
exactly. i would talk to the bank....there has to be a way to finalize the deal to satisfy all of the parties involved. good luck!
www.cluthelee.com
www.cluthe.com
if it does fall through though, afterward down the line,
you might see it was a blessing in disguise.
Maybe it will all work out for the best.... and a new scenario might be a better one.
-the week we were supposed to close, the bank wouldn't sign off on the sale because nobody mentioned that the house was in pre-foreclosure, so instead of a 0% down loan, we had to come up with $4000 in 3 days for a 'good faith' deposit.
-the previous owners were counting on the sale not going thru, so they didn't bother packing
-3 days after we closed on the sale, we had to not only move our stuff in, but pack and move their stuff out
so maybe the house isn't the right one for you...I wanted to walk away from this house, but we didn't, and now we want out, but can't sell, so we're stuck.
Right now, houses are prime for picking, so something will work itself out, and the granddaughter should have to sell her car and come up with the $20k.
Good Luck!
- Christopher McCandless