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Updated over 8 years ago on . Most recent reply

User Stats

11
Posts
1
Votes
Ron Fu
  • Investor
  • Philadelphia, PA
1
Votes |
11
Posts

Quiet a title action

Ron Fu
  • Investor
  • Philadelphia, PA
Posted

Hi all, recently, I came across an investment opportunity where the asking price is quite attractive . however, the title is not clean. it has two mortgage liens on it ($30k) and the seller will be selling the title as is. According to the seller's agent, those mortgage liens were satisfied more than 15 years ago and one of the lien holder might already be diseased. Given the seller want to sell it quick, therefore  it is up to buyer to quite the title

My question is it really risky to go through a transaction like this? How long is the process to clear the title this way? And how much legal fees do I need to be aware off?

If you know any good lawyers for free consultation in this area, that will be great as well!

Most Popular Reply

User Stats

38
Posts
16
Votes
Jonathan David
  • Attorney
  • Portage, MI
16
Votes |
38
Posts
Jonathan David
  • Attorney
  • Portage, MI
Replied

OK as a lawyer, let me respond. Why does everybody expect their lawyer to work for free. Nobody says where do I find a free plumber, a free kid to mow my lawn, a free doctor you don't even let people refill your glass at the dinner table without leaving a tip. But when it comes to lawyers, everybody wants it free. By the way when you see these TV commercials offering "free consultations" it is not because lawyers work for free. The lawyers are hoping to sign the clients to a large contingency agreement. There is no free lunch in life. That's like a car dealer saying come down for a free test drive. It does not mean car dealers are in the business of giving away cars for free. And to answer your question, yes a quiet title action can be complicated. You will need to prove something that you like we do not have the evidence to prove

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