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RealEstateAnswer
RealEstateAnswer, Lawyer
Category: Real Estate Law
Satisfied Customers: 23924
Experience:  9+ years in handling Leases, Landlord-Tenant, Foreclosures,Mortgages, and Eviction cases
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My granddaughter has been waiting months now to move into a

Customer Question

My granddaughter has been waiting for six months now to move into a foreclosed home by Hubzu.We have done everything getting an approved Loan and paid closing costs,but every month they extend the time to next month.What are our rights as home buyer to get into this house?
Submitted: 1 year ago.
Category: Real Estate Law
Expert:  RealEstateAnswer replied 1 year ago.

Good afternoon. Can you share with me who Hubzu is? Do you know why they are not ready to close?

Customer: replied 1 year ago.
It is an Indian operated company that the bank has authorized them to take over their foreclosures,and they seem to take their time in clearing the titles.
Expert:  RealEstateAnswer replied 1 year ago.

How did she pay closing costs if the closing did not take place? I am confused. Does the contract for sale have a closing date? If she is ready, does she keep agreeing to extend the closing?

Customer: replied 1 year ago.
she does keep agreeing to extension ,but she doesn't seem to have a choice even though I have paid these costs.
Expert:  RealEstateAnswer replied 1 year ago.

Thank you. It should not take 6 months to clear title and if there were issues ahead of time, they should have not entered into the contract and agreed to a closing date, if the matter would take more time then agreed. I am inclined to believe that there is language in the contract whereby they need to deliver clear and marketable title to her at closing but if they are 6 months past the closing date, she does not have to agree to an extension at this point. If that is how she decides to proceed, she likely would be entitled to a refund of all costs and expenses incurred to date and could go after them for other possible damages. They should be sharing with her exactly what the problem is and why this can not be cured, since she does not want to take possession if there are issues.

Customer: replied 1 year ago.
She does want this house very much as it was auctioned at a good price for her budget,but she needs to get on with this.This seems unreasonal that our country allows this behavior.We are all flustrated that she does not have a place to live.
Expert:  RealEstateAnswer replied 1 year ago.

Yes, I agree. If she wants the home, she needs to cooperate. As I shared, they should tell her why and what the problem is with title. Why they can not clear it and convey marketable title to her. If they can not show her evidence and documents of them proceeding and handling this, she may want to reconsider who she is dealing with.