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  1. #1
    Join Date
    Jun 2008
    Location
    Maryland
    Posts
    1,049

    Default deed transfer causes cancellation

    I had an inspection cancel the other day. It was explained to me that the seller had recently had the deed put in their name. It was from one family member to another. I was told that anti flipper laws or regulations caused the buyers financing company to balk at the deal.

    Are any of you aware of such regulations and does the explanation I got make sense?

    Similar Threads:
    Inspection Referral

  2. #2
    Join Date
    Aug 2011
    Location
    Bennett (Denver metro), Colorado
    Posts
    1,394

    Default Re: deed transfer causes cancellation

    The FHA has suspended the 90 day flipper rule to December 2014. So, I'm not sure what the problem is with the lender. Maybe you weren't told the entire story..........nahhh.......buyers never leave out part of the story.

    If you choose not to decide, you still have made a choice.

  3. #3
    Join Date
    Dec 2008
    Location
    Maryland
    Posts
    2,778

    Default Re: deed transfer causes cancellation

    John,
    It may be as simple as the title has not shown up in the land records. Maryland recording moves like a snail in winter. No title shown in the sellers name therefore the lender does not recognize the contract and will not process a loan since the title company can not provide a title search showing the seller as the owner till it appears in the records. The silly part of the process is that it is all on film/computer now and not copied and bound in book form like the old days. Which was also so very slow.


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