Anyone ever been through a weird title problem- like legal description is wrong?

Question

Apparently my title is incorrect due to the fact the legal description of the house is wrong- completely wrong. Not even close to the home I am buying- they said it's for a different house. They think the orginal owner mortage company screwed it up. This is a foreclosed home, I bought at auction through a auction house. They said they are going to apply for a deed revision. They have no idea when I can make closing- I was suppose to do it next week.

Is this normal? Is this something simple or complicated? How long does it take?

Not really getting any answers from anyone- just it's OK, you just need to wait and we will tell you more.....

Answer 1

You will need clear title to sell the property some day. Get it before you close.

Answer 2

I hate to tell you this but its OK just wait and they will tell you more!!

Seriously, If it is just a clerical somewhere along the way, with no attempt at fraud by anyone, it should be a pretty simple fix, it may delay closing depending on how far out you are.  As long as everyone is still happy and still talking, these little errors are usually not a big problem.

It really shouldn't need to be re-surveyed. There isn't a problem with the legal description for the property you are buying, its just that the wrong legal was in the paperwork.  Title insurance would have to be reissued for the proper legal description and any survey's or "as-built" sketches may have to have the legal corrected (unless they actually surveyed the wrong place).

How was the problem discovered?  The sellers agent should have pulled a deed and verified that it was correct when he/she listed it.

Answer 3

Normally what would happen is they would have the property re-surveyed & have the surveyor do a brand new legal description of the property.  This is why you always want to have title insurance when you buy a home.  For your own protection.  Length of time to close depends on how backed up the surveyors in your area are.  We usually have them in 2 weeks around where I live.

Good luck!