Posted by Jackie in Dallas on December 29, 1998 at 14:34:17:
It depends on the title problem. For example…
If you discover that there is a $20,000 lien againt the property and you aren’t able to get it released or reduced then it would kill the deal.
If there is a $100 lien again the property from the city because they had to mow the lawn then you should be able to make it work.
If you discover there is a wife that is on the deed but she died 2 years ago - then you can get a copy of the death certificate - and perhaps you’ll need some heirship affidavits - but you should be able to save the deal.
Each deal is different - you’ll learn new things from every obstacle you face. Sometimes it will require renegotiating with the seller - sometimes it will just require additional paperwork - and sometimes it will kill the deal.
What ever obstacles you discover - you need to make your “partner” aware of them - don’t try to hide the facts.