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If you're convinced that you'll be receiving a clear title, why not fix the place up and rent it out to offset any carrying costs or even your the opportunity cost lost by having your money tied up in this investment.
I have already been shopping for lawyers. But I am really hoping to get some guidance from this forum on what else I can do. Or if anyone has good recommendations on a lawyer in the Houston / Austin / Dallas area. Thank you.
You already got the advice and guidance and continue to ignore it. Shopping for what? A bargain on hamburger? It's been three months since you were ADVISED to hire a lawyer.
Come back when you have a lawyer. You don't need a recommendation on a lawyer--just throw a rock and you will hit 1 or 1200 attorneys who can file a suit or motion on your behalf.
I have already been shopping for lawyers. But I am really hoping to get some guidance from this forum on what else I can do. Or if anyone has good recommendations on a lawyer in the Houston / Austin / Dallas area. Thank you.
Why are you in such a hurry, you've been looking for an attorney for the 4 months since your first posting. I don't see why you don't just keep looking while the insurance company drug things out. So just keep looking, they will resolve things eventually.
Seriously you should have gotten a lawyer long ago. You don't have anyone representing your interests.
You already got the advice and guidance and continue to ignore it. Shopping for what? A bargain on hamburger? It's been three months since you were ADVISED to hire a lawyer.
Come back when you have a lawyer. You don't need a recommendation on a lawyer--just throw a rock and you will hit 1 or 1200 attorneys who can file a suit or motion on your behalf.
.
As mentioned in my last post, I won the case and got title about two weeks ago. Last week, the plantiff counsel filed an appeal. The appeal will take a year to work through the system hence the new need for a lawyer to go after the insurance company to force them to pay today instead of waiting a year.
I actually did consult with lawyers three months ago, they advised me to wait it out as the case the insurance company was fighting on my behalf was a gurateed win. The lawyers said that route is faster than them trying to intervene and going against the insurance company. They were correct, insurance won the case and I got my title. But, now there is this appeal...
The problem is, going through a court takes a lot of time. One year, is a minimum many places to get to court.
As the other attorneys are telling you, just let it ride and in the long run you will win. Paying another attorney to go against the title company will not get the finality of the process to speed up. It would just cost your money.
The insurance company is doing exactly what the title insurance company is supposed to do. They are getting your title cleared up. The only time they would pay you off, would be if they lose the case, and you lose the property. You have not lost the property, so you really have no claim against the title company. The title company has a bigger reason to make sure you are well represented by legal counsel, and that you win. They either get the title problem solved, or they have to pay out a lot of money to you and your mortgage holder.
Quit listening to people that really do not understand the problem involved, and listen to the other attorneys you consulted with. Attorneys realize that you as of this time have not had a loss of property, but there is a lis pendent action going on, and until the appeal is completed there is nothing that can be done. You are in a win/win position. If he problem gets solved which is almost guaranteed, you get the title problem solved. If you lose, you get the money for the property from the title insurance company.
What the title insurance company is doing, is SOP (standard operating procedure), and they are doing their job as they have guaranteed they will do. Their duty under a title insurance policy, is to clear up any title problems such as you are having. They have won in court once. There is an appeal they have to beat. They are working on the problem as they are required to do. It is taking a long time, as it always takes a year or two to get to court. They won the first go around. They are almost certain to win the appeal, from what you have told us. All you can do is to just sit back and wait for the Title Insurance Company that has guaranteed you clear title, to get rid of this bump on the road. And yes it can take another year or so to get this appeal taken care of.
Take a deep breath, sit back, and let things run their course.
The problem is, going through a court takes a lot of time. One year, is a minimum many places to get to court.
As the other attorneys are telling you, just let it ride and in the long run you will win. Paying another attorney to go against the title company will not get the finality of the process to speed up. It would just cost your money.
The insurance company is doing exactly what the title insurance company is supposed to do. They are getting your title cleared up. The only time they would pay you off, would be if they lose the case, and you lose the property. You have not lost the property, so you really have no claim against the title company. The title company has a bigger reason to make sure you are well represented by legal counsel, and that you win. They either get the title problem solved, or they have to pay out a lot of money to you and your mortgage holder.
Quit listening to people that really do not understand the problem involved, and listen to the other attorneys you consulted with. Attorneys realize that you as of this time have not had a loss of property, but there is a lis pendent action going on, and until the appeal is completed there is nothing that can be done. You are in a win/win position. If he problem gets solved which is almost guaranteed, you get the title problem solved. If you lose, you get the money for the property from the title insurance company.
What the title insurance company is doing, is SOP (standard operating procedure), and they are doing their job as they have guaranteed they will do. Their duty under a title insurance policy, is to clear up any title problems such as you are having. They have won in court once. There is an appeal they have to beat. They are working on the problem as they are required to do. It is taking a long time, as it always takes a year or two to get to court. They won the first go around. They are almost certain to win the appeal, from what you have told us. All you can do is to just sit back and wait for the Title Insurance Company that has guaranteed you clear title, to get rid of this bump on the road. And yes it can take another year or so to get this appeal taken care of.
Take a deep breath, sit back, and let things run their course.
thanks for your feedback. the reality of the situation is as you described it. However, if this case takes 5 years, is that still a reasonable time to wait? where is the line? life is not long enough...
also, it's not like this is a home I live in, it's an investment property that is not habitable. I paid for in cash. the property is now just incurring losses and I am unable to invest more into it as the insurance company won't cover any investment I make into it if they lose the appeal. So, it's not exactly a win win - it's more of a lose a bit or lose a lot.
lastly, the reason I am in this mess is because the company was negligent during their title search. pretty much their only job pre-closing.
that said, the amounts for this property are minuscule compared to the costs of litigating for 3 years...
How does this happen? I have always thought that title insurance meant a fairly and relatively payout for damages of this sort. No different than a car wreck. It wouldn't take years to be reimbursed by your check from the insurance company should you wreck your car?
I would do as others have suggested. Go to the media (and keep going) and to the governing body. This type of publicity would make anyone leery of doing business with Fidelity.
I'm glad you started this thread. Every time someone googles Fidelity, this thread will come up. I'd like to know the outcome too, so please let us know how this goes.
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