How does a few small sentences Abstrct cause my degree my new home?

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IN the process of buying a house. I have been approved and found me and my ex-wife have JUDGMENTS brief summary of total 1500.00. How will this affect my bottom line

  1. Reply
    Ron Berue
    December 18, 2012 at 10:25 pm

    If you’re the Seller, the money will be taken out of the gross proceeds of the home. The title company will pay off those judgments. If there is a shortage, you might have to bring extra money with you to closing/settlement/escrow.

    If you’re the Buyer, you might be required to pay them before closing/settlement/escrow.

    Thanks for asking your Q! I enjoyed answering it!

    Ron Berue
    Yes, that is my real last name!

  2. Reply
    Real Estate Guy
    December 18, 2012 at 10:59 pm

    You will need to pay them off.

  3. Reply
    December 18, 2012 at 11:05 pm

    If these judgements are on your credit report your lender will be able to answer your question very easily.

    If the judgements are on your title report on your existing property they will be paid off out of your settlement funds of your existing property.

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