What are my rights after 07/09/2021. Received request for payoff amount to be good through June 16, 2021 from title company, then they asked me to extend to the 28th of June. When we called on the 28th of June the title company stated that everything was still moving forward and they would request a revised payoff as soon as they can nail down a closing date, but confirmed that it would be in July as the buyer and Lenders were ready and waiting. I also attempted to reach out to the sellers in late June/early July, but could not get through. Now I'm in receipt of a letter from an attorney representing the seller asking me to sign a release for only $10.00. What should I do??
Hello!
You are my 500th Answer on Levelset. Big money no whammies!
Stick to your guns. Title company has your price and knows about the lien. If they sell the property over your lien, they get sued and it costs them more to go to court. They could bond around your lien but it will cost them 2x the lien amount in cash. If they try to sue you to remove the lien, the property gets held up until the resolution of the lawsuit or they would need to bond around the lien during the pendency of the suit. Every option they have costs more than paying you.
E. Aaron Cartwright III
214.799.0776
Info@EACLawyer.com