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Updated over 1 year ago,

User Stats

10
Posts
1
Votes
Harris Harris
1
Votes |
10
Posts

Title Issues causing Nightmare

Harris Harris
Posted

I bought a house in Austin, TX in July with full cash and spent about $60K renovating the property. I have a buyer for this property, and we are scheduled to close next month. My title company alerted me that the paperwork from my initial purchase of the property looks incomplete.

This property was bought using double closing.

1) Seller A sold it to Wholesaler(Big company) using Title company A

2) Wholesaler sold it to me using Title company B

I found the incomplete paperwork is with Title company A not recording the deed since the County rejected the POA for seal not being clear. The deed for the second closing from the wholesaler to my company was completed in July and recorded.

After my discovery of the issue, Title company A recorded the deed yesterday transferring the deed from the seller A to Wholesaler, but POA is not recorded yet in the county. They are working with the initial seller to fix the POA issue but I don't know how long it will take.

1) Title company B issued me the deed and owner's title insurance. Will I be able to claim the funds through the owner's title insurance? How fast or slow is this process?

Any other advice or suggestions that I should be doing?

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