:help :help There is a judgement against home trying to close on. My title co. just found this and it has been on there for 2 yrs. Seller is a RE agent and said the judgement is for more than the value of home. Do I need to hire a lawyer to oversee everything or is the title co. protecting my interests ?
As a general rule, a title company is a neutral third party who facilitates the closing. If any aspect of the settlement is disputed between the buyer and the seller, the affected party needs his own attorney on board to resolve the issue.
Dave is right, if the transaction has not yet closed then you have no title insurance to step in and clear the judgement. The seller should pursue release of this judgement if they want to close the transaction but you should have your own attorney involved to protect your interest.
Most every contract states that Seller has to deliver clear title. The closing shouldn’t take place until it is resolved and title insurance can be issued.
As a side note I always request that my closing attorney handle the transaction. Not all closing attorney’s & title companies are the same and some do a better job on title searches then others.