Does Option To Buy 3/1, Override Wdtt 3/2?
I have a situation.
A homeowner in foreclosure signed an option to purchase from another investor a few weeks ago (according to the investor). The investor refused to give any copies of any paperwork to the homeowner. She doesn't know what she signed.
The owner called me from a letter I sent her and sold me the house subject to. This was 3/3. I filed the warranty deed to trustee on 3/4. The other investor did not file any paperwork with the court, so at the time, I had no knowledge of any other transaction.
Now this other investor is threatening the owner and promising to sue for remedy. Is the wdtt null and void because of the other investor's option to purchase?
The homeowner was lead to believe by the other investor, that she would be evicted any day, called her non stop and came to her house. He has even called her ex-husband from 10 years ago.
This house is only worth about 75K fixed up, and has a 22K mortgage with foreclosure costs and needs about 18K in repairs.
Any help???? [ Edited by Sunre on Date 03/04/2004 ]
"Now this other investor is threatening the owner and promising to sue for remedy. Is the wdtt null and void because of the other investor's option to purchase? "
I believe the answer is NO. You had a right to rely on what was recorded at the county.