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Updated about 8 years ago on . Most recent reply

User Stats

30
Posts
9
Votes
Mark Matos
  • Rental Property Investor
  • Loganville, GA
9
Votes |
30
Posts

How can I save this deal????

Mark Matos
  • Rental Property Investor
  • Loganville, GA
Posted

Hello everyone. So... I have this property under contract that is a pretty decent rental, and I assigned the contract to another buyer for a wholesale fee of 18k. The buyer's earnest money is in and the closing is in 9 days. Everything great right? Well, I thought so, until I get a call from the title company saying that there is an issue with the title. Apparently there is some overlapping in the property description with the property behind it, which may prevent the title company to provide title insurance. The overlap is just on 20 feet of wooded land on the very back of the parcel and really doesn't affect the property in any way since the house is on the opposite end of the parcel, but apparently this can ruin the entire deal. 

The title company is still looking into it and I should hear back from them on Monday, but I'm trying to be proactive and find out what can I do to possibly save this deal in case things go south. 

Any ideas???

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