Title Company Slow To Release Ecrow Money!
I have a contract that expired due to the sellers not closing by the closing date. The buyers have not contacted me or the title company! The contract expired on the 15th of Nov. I am seeking the money that is in the escrow acct. The title company has told me I am at the VERY last of there priority. They seem to be very busy due to the holidays. How and where do I file a complaint. I just want my money!!!!
Thanks all!!
[ Edited by Redman1 on Date 11/28/2005 ]
I think I would hire myself a good attorney.
Apprentice2Him,
Glad to meet you.
Unfortunate about your situation, so let me give you two words of advice for the future "Subject To", now you know about not getting the deed no matter what you have been told.
John $Cash$ Locke
[addsig]
I do not quite understand this also. I hope someone can explain further. It is suggested over and over again on this site for REIs to structure their business using an LLC. Some posts have mentioned that they quit claim their properties to there LLC. Can you do that if you have a lender. What about insurance? Will you still be insured? I do not want to quit claim any properties to my LLC until I know exactly what will happen after that. And as JS asked, Can you reverse it?
[addsig]
Fin
do you have an umbrella policy on each property?
[addsig]
Fin
do you have an umbrella policy on each property?
[addsig]
I have successfully Quit claimed a number of properties to my LLC with no ramifications. However, this was "only" because it was a Single Member LLC. Once I updated my insurance the lenders called immediately!!! I informed them it was a single member LLC and faxed them my articles and they were "ok" with it barely. Actually the one lender that interogated me was country wide, the other accepted my verbal explanation or requested a copy of my articles of organization. I also have umbrella insurance and that insurance is taken out on me as an individual not the property. If you have your LLC airtight and dont mix your personal business you dont really need umbrella insurance. This was not the case for me so I got umbrella insurance.
I have successfully Quit claimed a number of properties to my LLC with no ramifications. However, this was "only" because it was a Single Member LLC. Once I updated my insurance the lenders called immediately!!! I informed them it was a single member LLC and faxed them my articles and they were "ok" with it barely. Actually the one lender that interogated me was country wide, the other accepted my verbal explanation or requested a copy of my articles of organization. I also have umbrella insurance and that insurance is taken out on me as an individual not the property. If you have your LLC airtight and dont mix your personal business you dont really need umbrella insurance. This was not the case for me so I got umbrella insurance.