And don't ask about this being in "Ethiopian Review"
Jonathon needs to hire a laywer. But at least it sounds like he has title insurance.
I hate when that happens..
Sounds like a scam the realtor and title company were running. They had better make this right.
There’s always the mob’s answer, sudden unexpected arson fire:)
Well, on the bright side, at least he won;t be living next door to a dump, unlike his neighbors, who should really get after him to fix his place up...
Well, assuming there actually was a housing "bubble" 6 months ago, the answer is yes; an imaginary bubble and this debacle are completely unrelated.
I smell stupid on this. When you go through housing you see and sign a MAP that shows the real estate you are buying and the title search company is bonded and insured to cover any possible mistake they made.
Same thing happened in Kenner, Louisiana some years ago in a very expensive home.
Geez man, tough break! But, I can help you out. I’ve got this bridge that I’ve been meaning to sell, and I’m sure you can double your money in less than a year…
This is an old story I believe. I remember posting something like this from Denver several months to a year ago.
Probably on the unit he bought. And it doesn't sound like there is any problem with that unit (except that it's a dump).
Oh man, that poor dude. I can just imagine the look his wife gave him when he told her...
“uh honey, have you finished plastering the bathroom yet?”
the wife sticks her head around the corner wiping the plaster encrusted sweat from her brow and replies... “probably be another hour sweetie, why, what’s up?”
The husband sheepishly folds and unfolds the letter hoping somehow the words he just read will magically rearrange themselves into something other that what they actually say...
“Um, you wanna hear something funny?”
Still, this smells like an urban legend.
Maybe he can trade units with the real owner of unit 5.
I have never seen title insurance cover anything. It is the most grossly overpriced form of insurance. The recourse will be from the Real Estate Agent who probably has errors and omission insurance.
When he found out the bad news, he ran to his car to drive to Coldwell Banker.
But the keys were in the ignition and the car was locked.
So he tried to jig the lock with a coat hanger. A neighbor came by and said,
“Your top is down and it’s starting to rain,”
And he replied, “Duh!”
Well, that deal certainly didn’t benefit Mr. Kyte.
He is about to learn that the document labeled “title insurance” is merely a multi-thousand dollar piece of paper that excludes everything that could possibly happen in this universe or any other. It would be worth exponentially more if it had been left blank.
The realty, title company, surveyors, and lawyers involved in the deal will not be touched in the slightest.
They got their money, what do they care. That is all that matters to them.
Yea, I’m bitter.
I'll bet ya breakfast in the morning that his title insurance covers Unit No. 5 Described above as "the dump next door"