All Forum Posts by: Tom Gimer

You are going to need to prove to the first lien holder that you are a successor in interest... auction terms, contract, corporate docs, etc.  

This is true whether you go through a title company or not. The typical “authorization to release information” to the title company is not going to cut it.

That sounds like a surefire way to have a seller say "No Thanks" to an offer after reading it.

You can be transparent without blowing up the deal from the outset.

The title company has already been selected by you, the contract purchaser. If the agreements were prepared properly, the assignee has already agreed to use the title company/escrow agent you selected. 

To allow an agent to change this is just the first step in losing control of your transaction... on top of costing your title company money.

So your pro advice is sue the insurer who has already paid for a total loss of title under the policy... i.e., their maximum contractual exposure. 

Got it! Chuckle away.

Unjust enrichment is used when there is NOT a contract... but under circumstances where it would be inequitable for the defendant to keep the benefits received from the plaintiff without compensation/restitution.

If there WAS a contract the plaintiff would just sue for breach. The existence of a contract is actually a defense to an unjust enrichment claim.

The plaintiff here was defrauded (albeit by a third party) into providing a large benefit to the property owner. Not as a gift and not voluntarily... so it's worth further research. And if it all fails, I love @Ed O. 's idea.

Litigating with a title insurer that has disclaimed coverage? Sure... 

But litigating with a title insurer that has already paid policy limits? What is the point, there is nothing to win.

The title insurer has honored its commitment in full. They're out.

Research unjust enrichment... a legal doctrine based in equity. The defendant would be the owner who has been unjustly enriched. You would find the defenses to such a claim developed through state caselaw.

The Investor Team at Eastern Title is looking for a rock solid title processor. As an investor if you've worked with a great processor who you know is not happy at their current company, help them make a move by sending them my contact information! 

A move to Eastern Title could be just the career move they need.

Depending on the candidate, the position could be in office (we have several), hybrid or fully remote. Great pay! Candidate would be expected to close 40 deals per month max. Communication skills and the ability to multi-task are a premium.

Refer anyone you know to me please... and I promise if it works out I will take care of you.

I believe you are dealing with a missing interest and nothing will save the deal until every last % has been accounted for. 

When buying property the expectation is to get 100%… whether to move on or not will depend upon how easy it will be to locate that interest-holder and secure their signing. 

In a pre-foreclosure scenario, the bank does not own the property and therefore cannot use the courts to obtain possession. 

Also the goal in a foreclosure is not to bring in the most money... the bank's recovery is limited to the amount owed.