Two years ago I purchased a house. Now I am refinancing the house after adding considerable square footage. In the process of refinancing it was discovered that one of the seller's signatures was not notarized. Now begins the process of having to get the original sellers back to re-sign. In the meanwhile, I am being penalized by additional costs of interest plus undue stress. Do I have any recourse against the title company that handle the closing 2 years ago?
2007-11-14 09:53:17 · 5 answers · asked by JOHN L 1 in Business & Finance ➔ Renting & Real Estate
None whatsoever, as long as they correct the error in a timely fashion. You cannot successfully sue someone for increased interest costs because their error caused you a delay in refinancing, and you're certainly not going to get any sort of monetary reward for 'your stress'.
2007-11-14 09:58:20 · answer #1 · answered by acermill 7 · 1⤊ 0⤋
You bought a house without checking to see if it was insurable ? BIG mistake on your part. You do not indicate here WHY you cannot obtain insurance. However, if your purchase contract indicates that you MUST maintain insurance and you do not, you then are in breach of the contract. The seller can certainly sue you for a 'foreclosure' due to that contract breach. No, you do not have any legal recourse. It sounds to me as though you did not cross all your "T's" and dot all your "I's" before you engaged in this contract. When the contract required that you maintain insurance, the FIRST thing you should have done (BEFORE you signed) was to procure insurance on the property.
2016-05-23 04:32:36 · answer #2 · answered by ? 3 · 0⤊ 0⤋
You're only recourse would probably be against the notary that omitted the signature, but good luck with that.
Title Companies are a money grab. They charge you for finding clear title but then make you sign all types of waivers that (in case their wrong) you hold them harmless.
Go figure.
2007-11-14 10:17:57 · answer #3 · answered by Anonymous · 0⤊ 1⤋
I ran into a similar situatution where the escrow officer signed in place of the previous owner and previous owner signed in place of escrow officer.
They need to correct the error, you can attempt to make an issue through their error and omission insurance, but your probably looking at an uphill battle.
2007-11-14 10:42:47 · answer #4 · answered by Tim 7 · 1⤊ 0⤋
you're not going to get compensated for stress or anguish.
title laws depend on the state or county
most counties or states dont require documents to be notarized.
now since you added square footage they will require to view all permits use to complete the square footage
2007-11-14 10:06:19 · answer #5 · answered by Anonymous · 0⤊ 1⤋