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Old 08-14-2013, 05:56 AM
 
Location: Northern Maine
9,428 posts, read 14,164,091 times
Reputation: 8772

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So far in this thread there has been no mention of title insurance. Title insurance is very inexpensive and the buyer would be made whole if there was title insurance. ALWAYS buy title insurance.

Quick anecdote to illustrate: Two brothers bought 50 acres and put in a driveway. Next year they built a nice camp. On year 3 a lady drove in the driveway and asked what they were doing there. They said it was their camp. The nice lady informed them that she owned half the property in an undivided shared ownership.

The brothers had not bothered with a title search or title insurance. What they had bought was actually a half interest in the property. The nice lady said she understood her scum bag ex-husband and she didn't want the brothers' camp. She just wanted what was hers. The brothers paid her for her property.

Get title insurance and read the policy.
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Old 08-14-2013, 06:25 AM
 
Location: Virginia
629 posts, read 1,410,643 times
Reputation: 564
Quote:
Originally Posted by Northern Maine Land Man View Post
So far in this thread there has been no mention of title insurance. Title insurance is very inexpensive and the buyer would be made whole if there was title insurance. ALWAYS buy title insurance.
It was mentioned in the original story. It didn't apply to my initial post so I didn't include all the how's and why's but I will clarify since you bring it up.

We did purchase title ins. What we didn't know and was not informed of by our closing attorney was that they found the condemnation and excluded it. We didn't get a copy of the policy until after closing.
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Old 08-14-2013, 03:37 PM
 
5,048 posts, read 6,285,829 times
Reputation: 4121
What about a survey? Was that also done for your purchase?
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Old 08-15-2013, 09:27 AM
 
154 posts, read 498,463 times
Reputation: 201
Quote:
Originally Posted by Northern Maine Land Man View Post
So far in this thread there has been no mention of title insurance. Title insurance is very inexpensive and the buyer would be made whole if there was title insurance. ALWAYS buy title insurance.

Quick anecdote to illustrate: Two brothers bought 50 acres and put in a driveway. Next year they built a nice camp. On year 3 a lady drove in the driveway and asked what they were doing there. They said it was their camp. The nice lady informed them that she owned half the property in an undivided shared ownership.

The brothers had not bothered with a title search or title insurance. What they had bought was actually a half interest in the property. The nice lady said she understood her scum bag ex-husband and she didn't want the brothers' camp. She just wanted what was hers. The brothers paid her for her property.

Get title insurance and read the policy.
I wouldn't even wait for the title company to do a search. A few years ago, I attempted to buy a property nominally on two acres. Almost on a whim, I stopped by the county to look up the deed and appraisal. I was shocked to find out that 0.4 acres of the lot was an easement for an undeveloped street. The county was never going to put the road in, but it was still considered a public right-of-way (!), meaning I couldn't fence it off, plant anything on it, or place an structures, including a septic tank, within 10 feet of it. But I would have had the obligation to keep it mowed AND to allow public access. Needless to say, I cancelled the purchase immediately on the grounds of nondisclosure and I won't make an offer on real estate again without doing a search.
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Old 08-17-2013, 01:19 PM
 
4,610 posts, read 7,095,313 times
Reputation: 4712
The transfer of the missing acres had not been recorded at the time the OP found out about the condemnation.

I can only assume that the Title Company found out through Legal Notices.
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Old 08-17-2013, 01:44 PM
 
12,973 posts, read 12,019,128 times
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You really should go after the Listing Agent/Broker. Your lawyer should be able to tell whether it is feasible to add them as this new information arose. That is really the better case.

At this point you should also be alert for false documents. Those who lie forge.

Any such disclosure made to you should have been signed by you. Standard practice anywhere.

Make sure that you have the regulatory scheme straight. There are two entities involved a state regulating agency and the local Realtor Board. You can file with both

And good luck.
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Old 08-17-2013, 06:00 PM
 
Location: Virginia
629 posts, read 1,410,643 times
Reputation: 564
Quote:
Originally Posted by lvoc View Post
You really should go after the Listing Agent/Broker. Your lawyer should be able to tell whether it is feasible to add them as this new information arose. That is really the better case.

At this point you should also be alert for false documents. Those who lie forge.

Any such disclosure made to you should have been signed by you. Standard practice anywhere.

Make sure that you have the regulatory scheme straight. There are two entities involved a state regulating agency and the local Realtor Board. You can file with both

And good luck.
Hi Ivoc..I agree we should go after the realtor. Attorney is not really interested in doing that as we are a yr into it. You bring up a good point. It concerns me that they would swear to a lie. We are not playing with nice fair people..they are capable of anything.

I also will confess that I am kicking myself for not heeding your advice a year ago. You sent me a DM and very bluntly told us to not go to the meeting with the closing attorney without a witness. We couldn't get anyone so we met with her alone. BIG BIG mistake! I won't go into details but that is biting us in the arse hard and if we lose..it's because of this. It's her word against ours. While we were thinking she was going to represent us she was busy getting affidavits against us. Wish to God we would have worked something out for someone to be there with us. You are very wise!

I've sent the draft to our attorney for review..then I'm filing complaints in both states with both entities.
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Old 08-17-2013, 08:06 PM
 
Location: Oro Valley AZ.
1,024 posts, read 2,229,853 times
Reputation: 1179
On an issue as big as this one on a property sale any half arse real estate agent would have made sure they had signed (documented proof) copies or emails of their correspondence to you making you aware of this major change. The fact that they have nothing tells me that they didn't tell you and all are trying to cover their butts after the fact. Definitely go after the broker since both agents are from the same office. Two agents from the same office and neither of them have any evidence of a MAJOR disclosure item being passed on to you???? Get this in front of a judge, they don't like slimy real estate agents either.
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Old 08-18-2013, 09:10 AM
 
Location: Virginia
629 posts, read 1,410,643 times
Reputation: 564
Quote:
Originally Posted by RickTucsonHomes View Post
On an issue as big as this one on a property sale any half arse real estate agent would have made sure they had signed (documented proof) copies or emails of their correspondence to you making you aware of this major change. The fact that they have nothing tells me that they didn't tell you and all are trying to cover their butts after the fact. Definitely go after the broker since both agents are from the same office. Two agents from the same office and neither of them have any evidence of a MAJOR disclosure item being passed on to you???? Get this in front of a judge, they don't like slimy real estate agents either.
I'm discussing adding them to the suit with my attorney now. It may be that the plaintiff knew the realtor was handing us ammo in the hopes of diverting our attention. When I initially found out and confronted the realtors, I asked them for a copy of the contract and they had "lost our file". They have nothing..and I mean nothing showing/disclosing it to us. Doesn't mean the POS's won't magically produce some fraudulent paperwork. They have proven themselves very capable of deceit.

Here is what she stated in her affidavit...

" John and Jane Doe were aware that a portion of the 3 acre lot would be taken for the condemnation action prior to submitting an offer."

I can rip holes in this all day. First of all how can she swear to what we are "aware" of? Next notice she said "would be taken". What? It had already been taken. Idiot...
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Old 08-18-2013, 09:23 AM
 
Location: Salem, OR
13,707 posts, read 31,297,735 times
Reputation: 12049
Quote:
Originally Posted by ~Pajama mama~ View Post
I'm discussing adding them to the suit with my attorney now. It may be that the plaintiff knew the realtor was handing us ammo in the hopes of diverting our attention. When I initially found out and confronted the realtors, I asked them for a copy of the contract and they had "lost our file". They have nothing..and I mean nothing showing/disclosing it to us. Doesn't mean the POS's won't magically produce some fraudulent paperwork. They have proven themselves very capable of deceit.

Here is what she stated in her affidavit...

" John and Jane Doe were aware that a portion of the 3 acre lot would be taken for the condemnation action prior to submitting an offer."

I can rip holes in this all day. First of all how can she swear to what we are "aware" of? Next notice she said "would be taken". What? It had already been taken. Idiot...
Not having their file is a HUGE deal in the world of real estate. If they don't have your file and you don't have a copy of your contract you need to add that to the complaint.
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