Homebuying times and in law … it is a mess?

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I’m no stranger to buy foreclosed homes for investment, but I’m in a business that really launched for a loop walk. I have an offer on a property owned by the bank that has been cut and placed on the market from I to 2 years (red flag # 1) Go. I told myself, I am nothing to offer and see what happens. The house is valued at $ 269,000, but conservative, there is a house 200-220000 $ this market, where I live. I offered $ 110,000 for fun and I was surprised to be countered at $ 115,000. I took the case and gave them a deposit $ 1,000.00. The purchase agreement was signed, I wrote of “the seller …. We do not know that … not only readable lines untitled pile that included the signature (red flag # 2). The deed holder is a bank in New York. They gave another company, filed the pledge to another company that apparently come to the statement signed on his desk. I have a personal contact with this company and she said, “we can close” but … “LIP”. You do not know who to sign for this place!. My banker has requested a copy of the bill to a committee of credit (loan) to present . They say they will do so by fax, but never. I do not understand how they think we can close, if not someone with authority. The term was to attend the closing, but I threw not the context in which they spoke. Does anyone know any of this sound?

1 Comment
  1. Reply
    Diana S
    May 17, 2011 at 12:01 pm

    I believe you are going to have to contact the deed holding bank directly. They are probably contracting with the company holding the deed physically to take care of this and have no idea that this second company has no idea what they are doing.

    The second company may also be overwhelmed and/or understaffed and can’t perform. Have you talked to a manager at the second company?

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