Posted on: 08th Jul, 2010 06:39 pm
Purchased a home in PA, 2004, was a foreclosure..put approx 1/2 down with bank loan for the balance. Went the whole legal route, had an attorney act as settlement agent,doing title search,paperwork, etc...no problems. NOW, 2010 we have a contract to sell which we signed May 14th, selling as is..buyer paying cash for home and back taxes. His lawyer has done a title/deed search to complete transaction and it is showing 2 outstanding mortgages against the house..one from 1985 and another in 2000, in either case have absolutely NO regards to US! Called bank who had the foreclosure on it, our bank through which we still hold a mortgage, the lawyer who did OUR search, who called the lawyer who is handling for our buyer to discuss AND the realtor who sold us the home.....everyday this place is costing us moNEY, we are seriously about to go CRAzy on someone, any ideas???
We will appreciate any suggestion..thank you.
We will appreciate any suggestion..thank you.
Hi MattandTerri!
Welcome to forums!
You are in a tough situation. If there are existing liens on the property, then it would be better if you could ask the previous owner to pay them off first and get the property free and clear. If you do not get the property free and clear, then you may be held liable for the outstanding liens.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
You are in a tough situation. If there are existing liens on the property, then it would be better if you could ask the previous owner to pay them off first and get the property free and clear. If you do not get the property free and clear, then you may be held liable for the outstanding liens.
Feel free to ask if you've further queries.
Sussane