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Tina
Tina, Lawyer
Category: Real Estate Law
Satisfied Customers: 5436
Experience:  17 years of legal experience including real estate law.
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Closing on home scheduled today at 3 pm Friday it is.

Customer Question

Closing on home scheduled today at 3 pm Friday it is. Outstanding lien on home for prior loan for 49k. Sale price 168. I am now told I will get no monies today as lien etc needs clearing first. Surprise to me. There has been a real lack of professionalism and diligence on my agents part as well as 11th hours actions per the title co. Should I wait till the am in the early part of the week to close as I am concerned about the funds
Submitted: 4 months ago.
Category: Real Estate Law
Expert:  Attyadvisor replied 4 months ago.

Welcome and thank you for your question. I will be the professional that will be assisting you.

Expert:  Attyadvisor replied 4 months ago.

Did the title company advise you about the lien? The issue with an escrow closing is that the title company does not represent either party. I am surprised that no one advised you of a lien until the day of closing. It is true that the lien must be released prior to clearing the 49k if there is no matter left over to disburse to you until that lien is removed.

Would you need to bring in money to close or would you just not be receiving any money until the lien is released?

Expert:  Attyadvisor replied 4 months ago.

Are you online with me? What happened with the closing?

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