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Hi, the question that I have is this, I recently found a house that I love. I filled out and submitted all the paper work. The house had multiple offers so I submitted mine and hoped for the best. A day after all the offers were submitted, they had to remove the listing due to possible title defect issues. In the Email I received it did say that as soon as everything is resolved the house would become active again. I would assume that they would want these problems resolved quickly as they are looking to sell the house and there were multiple offers submitted. I am not real estate savvy so I am not sure if I should wait a little to see what happens, or try for another house. The problem is that I found this house in the location that I want and the location is the most important thing to my family. There are a few other house in this are but are not as nice as this one. I am afraid that if I wait to long for this house to become active again the others houses that are available will be sold or taken off market. This area does not produce a lot of house to the market and this is the area that I want to live in and I don’t want to miss my chance to get a house there. I talked to my realtor about this but I am not entirely my with him and would like some other input on my situation. My question is how long do you think this will take for the house to become active again? Any help or insight that you could give me would be greatly appreciated.
I'd keep looking. If someone else comes up then great. Title issues can take a few days to a few months to resolve. It just depends. If this is a MERS property, it might be a while.
The issue you have to deal with here is uncertainty. Since the house is not on the market now, and you do not know when it will come back, you are out of the loop.
If you do not see another home that you like today, you can inform your agent and the Seller to contact you immediately when this home becomes available again.
Meanwhile, there will be other homes coming on the market that may appeal to you. So it all depends on how quickly you wish to act.
Could be as simple as a lien or could be an issue of adverse possession/boundary dispute or any number of issues which can take a while depending on the jurisdiction for it to get on the court calendar.
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