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A Planned Unit Development (PUD)is typically a planned community, but not necessarily generally a condominium community. If a title agency did the title work and missed any pertinent information that could cause a loss of value to the property or marketability of the property, you may have a claim. However, if it was disclosed to the buyer in the sales contract that the home/property was located in a PUD, it would be hard to file a claim of loss against the title agency, since you knew it was an established community of some sort or it was implied. ie. "Welcome to Silver Springs Community" on the entrance sign when you drive up. Additionally, if the borrower was told that they would have to be approved for membership or pay fees to a homeowner's assocation in conjunction with purchasing the property as a non-elective, it is "implied" that the property is not located in a non-community organized neighborhood. In order to file a claim, there has to be a loss. A loss of value, a loss of marketability, etc. You should contact an attorney for their legal opinion on it. Personally, I don't see where purchasing a property in a PUD would adversely affect the title or the marketability. And, I can't imagine that there wasn't a pre-determined or "implied" factor that the property was part of an established association/community prior to purchase.
What else can I help you with?
Why was a car left on the property after the closing?
The car was left on the property after the closing because the previous owner may have forgotten to remove it or did not have the means to do so before the sale was finalized.
Where can someone buy a new home in a new development?
A buyer can buy a home in a new development by contacting the real estate agent, viewing the property, making an offer and sign a sales contract, apply for a loan, have the home inspected, have the home appraised and be there to sign at the closing.
What is the percentage of seller closing costs on commercial property?
The percentage is negotiable.
Can a stop payment be put on check issued by title company after closing?
after closing and recording of property to new owner can a fidelity title company stop payment on a sale on a property. a lein was later discovered on the property after disbursments of sale were made by cashier checks and deposited
What is a letter of execution in a house closing?
Deed is a letter of execution in a house closing. The legal document that informs who owns the property is called title.
What is cash out on mortgages?
If you refinance a property you own and take out a new loan for more than the balance (plus allowed closing costs) of the previous loan you will receive cash at the closing. That makes a mortgage cash out. or.... if you own a property free and clear and want to take out the equity in your property you can do this by taking out a mortgage loan and the lender will give you the money at closing. When you walk away from closing with usually more that 2% of the mortgage balance as cash to you..that is considered cash-out.
How do you know indalex is closing in girard?
the plant is for sale. property number 15679254
What is the process for handling prepaid HOA fees at closing when purchasing a property?
Prepaid HOA fees at closing when purchasing a property are typically handled by the seller. The seller will provide the buyer with a statement showing the amount of prepaid HOA fees, which the buyer will then reimburse to the seller at closing. This ensures that the buyer takes over responsibility for the HOA fees from the date of closing onwards.
What does a closing step signify from the perspective of a real estate deal?
The closing step signifies that you are willing to buy the property that the real estate agents are offering. From the perspective of the real estate dealers, you are ready to take over the rights for the property.
What information is typically included in a copy of a HUD closing statement?
A HUD closing statement typically includes details about the buyer, seller, property, loan, and closing costs. It outlines the financial transactions and fees involved in the real estate closing process.
Can a buyer of real estate property place a lien for repairs to property prior to the closing date?
No. The buyer has no authority to place a lien on the property and no cause of action for which to sue.
What is real estate marketing?
Generating interest in a property for sale by advertising using various means and managing the sale of the property through closing or settlement.
