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Quiet Title Negatives
If you have recently run across a great auction deal on some property in your area then perhaps you are starting to think about the future. How will you be able to maximize the money you can make by reselling the property? This could be a great business venture, but you will not be able to do anything until you go through the all the right channels to be sure everything is clear as to who owns the property.
You would think it would be a simple task, but banks will not give mortgages to your potential buyers unless it`s clear that there are no other claims of ownership. One way to clear up the any confusion is to go through a quiet title action. This can take 6-12 months, requires a real estate attorney and attorney`s fees. While you`re waiting on the court action, you`re sitting on your investment unable to sell.
Getting title insurance is also an essential, and until the quiet title action goes through, this cannot be done. Both of these areas will hold you as an investor up from selling your property. So if an interested buyer came along, you will have to explain that you are waiting for the courts to give you quiet title before you can call yourself the legal owner and sell the property.
The positive to having a quiet title action is that when it is done, it is obvious who the owner is. Legally, there should be no question after it goes through that you as the owner can sell the home. The bank as well as an insurance company should then be able to help you.
There is an alternative to quiet title that could take as short a time as 6-8 weeks, cost much less, and get you what you need in order to prove ownership and get title insurance. If you feel the 6-12 month wait and expense of an attorney and legal action is too high then you should speak with a title service company to find out about their faster options.
When you`re deciding which option to choose, 카지노 think about the time aspect and whether you can afford to wait 6-12 months for a decision to be final. You should think about the cost of hiring an attorney to take care of the situation for you. If you are considering a property certification process, research the company that is offering the service to make sure that they are reputable and will actually do what you need.
2019-4-19 09:51:33 BY 游客   查看:5 次   以下共有回复:0 篇  
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