Long back story but short of it is we have a family member in prison and at his request used a power of attorney to sell his paid-for house. It's not a good house and is in an arm pit of Texas and sold for a whopping $18k. We had to owner finance which is apparently the norm for this neck of the woods. It was done through a realtor with a mortgage and we insisted on title insurance for the sake of the buyer because this relative is a moron and we didn't want anyone to get hosed.
Now the buyer wants to pay it off after a year which is great but we can't reach the realtor to find out the procedure. The title company told the buyer they don't have anything to do with it now. Our main question is - where's the title?
I've read online and it appears that since it was a mortgage the house is deeded to them already so there's really nothing left to do except maybe send a letter stating they've paid in full? Is that right? Any other things we are missing?
Now the buyer wants to pay it off after a year which is great but we can't reach the realtor to find out the procedure. The title company told the buyer they don't have anything to do with it now. Our main question is - where's the title?
I've read online and it appears that since it was a mortgage the house is deeded to them already so there's really nothing left to do except maybe send a letter stating they've paid in full? Is that right? Any other things we are missing?