And if a title company insured title you sue the title company. Just because it doesn’t show up in a typical title search right away does not get the title company off the hook. Then can still search title for anything recorded up to the day of closing. The only thing that matters is the date and time it was recorded VS the date and time of any closing. If you recorded first you have recourse against the title insurer in addition to the seller. Since collecting from a seller is less likely than collecting from a title insurer, I’ll record and protect my interest by having recourse against the insurer over the seller any day!
Posted by michaela-ATL on June 22, 2005 at 13:47:18:
Nick,
First of all, you would do a rush recording, so if the seller does sell it in the period of time between recording and it showing up, then you have recourse with the title company.
Also, if it is being found by the title company, then they will not insure the title, which basically makes it impossible for the seller to sell, unless he finds a cashbuyer, that is willing to take the risk (hardly anybody will).
I’m a very proactive person, so, I’d rather prevent the seller to sell and come back to me, so I can buy, than to have to spend the money on a lawsuit (granted, I’ve done 2 suits for performance and am now filing my own by copying from the first one, that the lawyer did).
Being proactive is a whole lot better than reactive in my book.
JohnBoy, I’d like you to meet Don. Don likes to talk about stuff he has NO idea about. I’ve seen this guy work before. It’s U N B E L I E V A B L E some of the wrong stuff that comes out of this guy’s mouth.
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