Real Estate Note Of The Day

There’s a misconception that’s bit one of my current transactions, and many others: “once I have an accepted offer, the house is mine”. In a real estate transaction, ownership changes when “numbers are recorded” at the county office. When the deed for the property is filed at the county office, that transaction is given a unique identification number. Only then is that property yours (if you’re the buyer. As a seller, it’s still your responsibility until that happens).

Not understanding this can cause headaches for both buyer and seller. Seen it first hand, and, after consulting with colleagues, heard many horror stories.

Your Thursday thought. Go and do great things.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s