After the buyer has released the last of their contingencies for the purchase, it will be time to make your way down to the title or escrow company to sign the grant deed, transferring the property to the buyer. The title company will hold on to the deed until the buyer has put all their […]
A lot needs to happen once you and the buyer have a signed purchase agreement. A typical agreement specifies a 30 day escrow – which may seem like a lot of time, but it will fly quickly! Some contracts can have a shorter or longer period, so the timeline can vary significantly. However the following […]
When a bank is selling a property (or, typically, it’s an asset management company that sells the property for the investor, marketed on the MLS using the services of a Realtor), there are few disclosures made about the property – because, of course, the owner of the property is an investment firm in Abu Dhabi or the pension fund for a plastic toy factory in Shenzhen, China – and what, really, could such an owner know about the property? … She went on to say that there had been, in effect, a property line adjustment, and the subject property (the one I was helping my client to buy) had relinquished some “useless” land behind the garage in exchange for some use of some of the neighboring ‘s land, which was a non-exclusive easement benefiting the subject property but had been used for years and years exclusively by the former owners. … At some point during all this, I had talked to the listing agent for this parcel, and he said he’d heard about the lawsuit, and said he heard that there were some un-recorded grant deeds lying around, but didn’t really know much about it and would check with the owner and get back to me. … To make a long story short, after a week or so of hemming and hawing and talking it over with various parties concerned, we made a devil’s pact with the bank – we would take the property as-is, and proceed to close immediately, if the seller (“the bank”) would drop the price by about 10%.