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Make sure you have Title Insurance!
I posted about this last night on MM but I figured it would be relevant to everyone on here, and we have gotten more clarification on our issue, so I thought I'd share.
DH and I bought our house in November 2009. The house at the top of our street sold off some land and two different builders built our and our neighbor's house. Everything had been fine... until yesterday.
Yesterday we received a letter that there were outstanding property taxes on our property and that the town was going to list our property for a tax sale in 30 days. WTF! We knew we were current on all our taxes and I immediately called our personal lawyer, who got me off the ledge (figuratively).
Our lawyer called today and after doing some research with all the loan, closing, and tax information that we had sent him, it appears that our closing attorney didn't properly close our house! The clean title we were issued wasn't so clean! There are unpaid property taxes on the property from 2009, before we bought the house, that the original land seller or builder never paid. Our lawyer is now dealing with calling the builder to get him to rectify the situation and pay the outstanding taxes that he owes and the closing attorney and taking any recourse as we had purchased the house in good faith that were told there were no outstanding liens on the property after they had ran the title search.
So make sure you have title insurance to protect yourself from a situation like this! Trust me, the last thing you want to do is get a letter in the mail saying you're going to lose your house and you have no idea why/thought you had clean title... I couldn't sleep last night and had a pit in my stomach worrying about possibly having our house go up for auction!
It's a dog's life!
Re: Make sure you have Title Insurance!
That is just awful! I listen to Clark Howard's radio show and he talks about title insurance ALL the time. He says hardly anyone has it, but everyone should. To hear a story like yours really hits that home for me (we are still in the buying process).
Good luck, I hope everything comes out OK.
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Good story. I mean, not good for you, but good for people to hear.
Our LO basically told us that Title Insurance was non-negotiable, and I'm glad he did. It was cheap, too. (In the grand scheme of things.)
Eat.Drink.BeMarried. Blog.
Thanks. I think a lot of people have the "oh, it'll never happen to me" mentality and here is a perfect example of someone who is going through something that should have been prevented.
In the grand scheme of things, the unpaid taxes are negligable (not the tens of thousand of dollars in back taxes we thought it could be) so we'll pay it if it comes down to it to finally have all of this behind us. But it really can happen to anyone so you need to protect yourself!
It's a dog's life!