Several options exist if quitclaim is stalling sale
Q: My sister deeded property to me by quitclaim deed to resolve a family dispute. I now have a contract to sell it, but the title company says they will not insure over a quitclaim deed. How do I fix this situation? A: Go to a higher officer in the title company, or change title companies. Some companies don’t like quitclaim for a number of reasons. However, when they are used to clear clouds on title or resolve disputes, they can make exceptions. Keep trying. Q: I’m a real estate agent and recently was hired to be a buy- er’s rep. We are about to make an offer, and another broker says he represents these buyers and will sue me if I go through with this deal. My buyers say that they couldn’t work with this guy and fired him. They showed me an email that confirmed this. What can he do to screw this up? A: His name is most likely not on the contract. Therefore, there is no agreement to pay him out of the closing, so the title company has no duty to him to pay him out of the closing. The Texas Real Estate Commission has always maintained that no license holder can force their services on anyone who doesn’t want them. Offer to settle the dispute through the TAR arbitration process (https://www.texasrealestate.com/fortexasrealtors/arbitration). It is a lot faster and cheaper than going to court.
Q:
I just got a listing on a very expensive condo through a high school friend. It is her grandmother’s condo. Is there something special I should be concerned about? A: Oh, just about everything. Have you read the condo declaration? Is there a right of first refusal in it? Can a buyer lease the condo after he purchases it? What are the monthly dues? Is the condo association solvent? Are there any assessments due? We suggest getting in touch with a very experienced real estate agent and learn, learn, learn. You’ll be much richer for it in the future. Q: We bought our home a few months ago and have discovered mold. My husband is having trouble breathing. Can we sue the seller for failing to disclose this problem? A: Do you have any evidence that the seller knew of the mold problem or that the broker knew of the mold problem? You’ll also need an expert mold assessor to confirm its existence and the cost of fixing the problem. We’d rather see you spend your money fixing the problem correctly rather than paying legal fees. It may not be as expensive as you think. Get all the facts you can, then make a decision. Q: We are considering buying a house and would like the seller to leave every- thing in the media room as part of the deal. Can we do this? A: Sure. There are a few issues you may want to consider, though. If the personal property is very expensive, the appraiser may back it out as not part of the value of the property. So the property may not appraise at the agreed value. You will need to transfer title at closing by a bill of sale. Be sure to include it in your contract.
To send us a question visit www.AskGeorge.net and select the “Ask A Question” button. Our answers to questions do not contain legal advice. If you wish to obtain legal advice, you should consult your own attorney. George Stephens is the broker of Stephens Properties. Charles J. Jacobus, J.D. is Board Certified by the Texas Board of Legal Specialization in Residential and Commercial Real Estate Law.