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Updated about 2 years ago on . Most recent reply

User Stats

12
Posts
6
Votes
Jared Hebb
  • Chattanooga, TN
6
Votes |
12
Posts

Cloudy Title Issue

Jared Hebb
  • Chattanooga, TN
Posted

Hello BiggerPockets! I'm looking for a little help navigating a cloudy title issue.

My wife and I are under contract on a house in Chattanooga, TN.  We received an email from the title company involved saying that there is a cloud on the title, and there would be an additional 1% tax hazard premium due at closing because of that.  Assuming that we can come to an agreement with the sellers on how the 1% tax hazard premium is handled, the issue of quieting that title would still be remain.  

I'd really like to understand the process of quieting the title, how to ensure that it happens.  This listing agent has not been very cooperative in terms of communication and urgency.  My fear is that if we end up closing, she will pop smoke and I'll be left with this title issue. I assume that the 1% tax hazard premium is what is supposed to protect me from that?

Does anyone have experience with something similar?  Thanks in advance!

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