This is the scenerio I’m in right now, I wrote “you” to put the reader in first person - personalize this. I need some good advice! Help is much appreciated.
you buy a property through assignment - wholesale and cheap.
you sign a contract.
assignor tells you that “paperwork has been processed…so and so from X title company will be contacting you soon to close”.
after 3 weeks, you find out that “so and so from X title company” isn’t even aware of the assignor buying or selling any property through X title company and that no such paperwork on the property you’ve signed a contract for, has been opened by X title company.
what’s your next move?
call the assignor - play stupid and get information from them, call them and be blunt and tell them what you’ve learned and ask what’s going on, or wait for assignor to call you.
once you’ve signed a contract…what’s the standard for how long it lasts before it expires…i know, i should probably have the contract in front of me so i could read it, unfortunately i’m not at my office…so let’s assume that there is no statement on the contract that i signed, indicating any such “expiration date”.
fyi - i did attach an addendum to the contract i signed directly referencing the requirement of title insurance/clear title.
also, “so and so from X title company” does not do closing paperwork, he is an escrow agent for the title co that the assignor has referenced and additionally, he does not have any idea who this assignor is.
i checked out the assignor with the local BBB in the state they are located - been registered for two years with no complaints (i know this means nothing but it’s something).
anyway, sorry for the abstractions…please advise on my next move.