Posted by johnman on November 20, 1998 at 21:21:34:
Irwin,
“I have a contract” means exactly that and yes a title search is in progress and I just received a preliminary verbal report. I will probably receive more details next week I just wanted to know if anyone knows anything about my question. I am the purchaser if that’s what you are wondering.
Thanks anyway.
title problem question? - Posted by johnman
Posted by johnman on November 20, 1998 at 18:37:02:
I have a contract on a property that has three title problems: first it owes quite a bit on taxes. I have resolved this problem. second, it has a SBA lien against it. Don’t know all the details yet. third, it has something called barred redemption?!?
My question is has anyone heard of" barred redemption" or am I not understanding the preliminary findings? I’m just trying to gather more info on this matter from seasoned veterans.
Thanks,
Johnman/new guy on the block
Re: title problem question? - Posted by Irwin
Posted by Irwin on November 20, 1998 at 20:03:30:
I’m not sure what you mean by “I have a contract”. It doesn’t tell me what your relationship to the deal is. Have you contracted to buy subject to clear title being provided, (I hope) or what? It is the seller’s obligation to remove any title obstacles to the satisfaction of the title company that will insure your title. I haven’t a clue as to what “barred redemption” means, but whatever it is, I suspect that it is of some importance.