Posted on: 12th Mar, 2009 12:07 pm
Last year around this time, I was working with a mortgage broker in hopes of obtaining a construction loan for a new modular. I was not comfortable with the monthly payments they were proposing for me to warrant taking on a mortgage so, we changed gears and decided to look at pre-existing. I never found anything in pre-existing that met my needs so, I emailed the broker last month and let him know that I was shopping for rates for a manufactured home loan and inquired what he could do for me. I never heard back from him. So, I began working with another company. During this time the first broker had, in their possession, the abstract for the land I am looking to build on. I contacted them via email a couple weeks ago and requested the abstract back. The reply was that they would put it in the mail. I called the broker today and was told that they cannot find the abstract but will try to locate it. :x It is my understanding that without the abstract, a title search can be quite lengthy and subsequently costly. If they are unable to find the abstract what recourse do I have?
FYI: State of New York
FYI: State of New York
Hi tanya,
Title searches often use abstract of title to determine the ownership of the property as it provides a summary of the legal history of the land. Thus title search without the abstract can be lengthy and expensive. I think you should contact the county clerks office as they keep records of the title history of a particular piece of real estate property.
Title searches often use abstract of title to determine the ownership of the property as it provides a summary of the legal history of the land. Thus title search without the abstract can be lengthy and expensive. I think you should contact the county clerks office as they keep records of the title history of a particular piece of real estate property.