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I submit the bid on short sale property thru the same agent who listed the property. From the very beginning I was telling the agent that the title is not very clear, and she did not pay any heed to my requests. I expressed over and over to the escrow and title company but no one listen to my concerns. So the time was wasted. the short sale lender gave us the escrow extension to 3/29/13. we are set to close the escrow on 3/18/2013, as per escrow agent I wired the funds last Thursday and after that, i got call from the Title officer that there is a problem with the title as the neighbor's loan is recorded on this property in 2006 and the modifications were also recorded in 2009 and 2011.
My agent talk to the BOA, neighbor's bank and was told that it will take 25-35 days Wells Fargo told her they will not grant any extension and she must resubmit the package again. Now we may loose the deal as the prices are gone up since last year, pls. tell me what to do.?
Can the title company issue override that the neighbor's lien is wrong.
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