[Grovenet] question

[Allen Warren]

Jeff, 

What I read is the city manager is merely pointing out at least one example of how a buyer might now know of deliquent taxes, i.e. property purchased on land contract.

Again, when I've purchased homes in the past I paid the title insurance fee.  I always figured it was an extra nuisance fee that I had to pay.  Now I can see a possible real example of how it's truly a "no brainer" fee, assuming a title search would indeed bring up fees like what Steve Emmert is now realizing he has to pay.

To me this is one of those situations where a potential buyer has to perform due diligence to insure they have done their best to insure they are aware of any and all issues prior to agreeing to purchase a property.

As I said in an earlier email, I'm wondering if Steve Emmert ever had the title search performed prior to his purchasing the land he now owes so much on, including if he did indeed have the title search performed, did it expose these fees as attached to the property.
 
Allen Warren




________________________________
From: Jeff Cooper <jbcoops at yahoo.com>
To: Forest Grove local interests list <grovenet at rdrop.com>
Sent: Friday, March 6, 2009 12:15:42 PM
Subject: Re: [Grovenet] question

I dunno... he says "not all buyers agree to obtain a title report"... was this the case in this particular situation? I can't believe a buyer would forgo a title report and insurance which is a mere pittance against something like this happening on a million dollar property.  I think the city manager is waffling.

--Jeff


--- On Fri, 3/6/09, Martha Khoury <khourym at verizon.net> wrote:

From: Martha Khoury <khourym at verizon.net>
Subject: Re: [Grovenet] question
To: "Forest Grove local interests list" <grovenet at rdrop.com>
Date: Friday, March 6, 2009, 9:44 AM

Thanks! That was the question that arose in my mind as well. --MK

On Mar 6, 2009, at 9:24 AM, John Schrag wrote:

> Allen, below is a response from Dave Waffle, city manager.
> john
>
> Thanks for the question.
> Not all buyers agree to obtain a title report, especially if the  land is being sold on land contract.  In that case a bank is not involved to invoke their version of "due diligence".  We know of property owners who have also been surprised to learn of delinquent taxes after they purchased land without a title report.  While title reports are not a guarantee, they normally will show liens, taxes, special assessments, easements or other claims filed against a piece of property.
>
> Dave Wafflle, City Manager
> City of Cornelius,



      
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