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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Title insurance, disclosures, and escrow Posted by Ward-CA- on December 05, 2001 at 7:14 AM In Reply to: Title insurance posted by Joanne P. on December 04, 2001 at 5:47 PM : I am in the process of submitting an offer on a property that foreclosed with the lien holder buying back the property. The bank was on the verge of releasing this property to real estate when I came into the picture. I offerred to buy with a contingency to sell my house, pay my agent and allow the people to rent while my home was up for sale. Question: Does this sound good? Do I need to hire an attorney and title search company at this time? I am buying this home as a residence not an investment. : Any help you can give me would be appreciated. I live in Upstate New York. : Joanne =?=?=?=?=?=?=?=?=?=?= Joanne, just consider your purchase from the bank as an ordinary, regular real estate purchase and conduct yourself accordingly. For starters I would suggest that you take advantage of all the normal accouterments of a regular purchase by insisting on an escrow, title insurance and full seller?s disclosure of property conditions by the bank. Those three safeguards will insure you end up with the deal you originally negotiated for when the bank originally accepted your purchase offer. Hope this helps. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : I am in the process of submitting an offer on a property that foreclosed with the lien holder buying back the property. The bank was on the verge of releasing this property to real estate when I came into the picture. I offerred to buy with a contingency to sell my house, pay my agent and allow the people to rent while my home was up for sale. Question: Does this sound good? Do I need to hire an attorney and title search company at this time? I am buying this home as a residence not an investment. : : Any help you can give me would be appreciated. I live in Upstate New York. : : Joanne : =?=?=?=?=?=?=?=?=?=?= : Joanne, just consider your purchase from the bank as an ordinary, regular real estate purchase and conduct yourself accordingly. For starters I would suggest that you take advantage of all the normal accouterments of a regular purchase by insisting on an escrow, title insurance and full seller?s disclosure of property conditions by the bank. Those three safeguards will insure you end up with the deal you originally negotiated for when the bank originally accepted your purchase offer. : Hope this helps. Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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