Recorded option… - Posted by Scott T.
Posted by Scott T. on August 25, 2003 at 17:39:59:
Ok, here goes, I did a sandwich l/o with a seller on June 21. The seller then found a buyer (after I had a signed contract). Upon finding out about this, I went to record my option-to cloud the title. I recorded my option on July 29 and the seller closed with his buyer on July 31, after I clouded title. Well the house closed and now I would like to know what my options are (legally) since the title company allowed the closing with my cloud on title. Is it possible that a title company would do a title search that much ahead of closing. I thought they generally did the search the day before closing. Whatever the policy, what can I legally do now, and is my conflict with the seller or the closing attorney, or the title company, or all three.
I just want to get this resolved and get whatever $$ I can out of whomever I can. I feel as though I am getting taken advantage of and to be honest, it leaves a bitter taste in my mouth for real estate investing with sandwich lease options. I would love to hear from anyone that has ever had this type of situation happen to them, and what were the results of the situation.
Thanks in advance,