Skip to main content

Recordation discrepency

My home is recorded by the city as a "bargain sale" however my paperwork has a signed form from seller stating a "fee simple" or "warranty deed" (I think it was the former and it was explained to me when I asked that it's still clean ownership but bc her husband passed).

She built the house with her husband and was on the orgiginal deed with him. He did pass a few years prior to the sale, but my confusion comes from the fact when I Google bargain sale it states that it's a deed that protects the seller from liability against liens or defects bc the seller doesn't typically have the knowledge about the house and used in tax sales and foreclosures typically.

Should I be concerned and have this looked into?

There were a few issues with her honesty and integrity and there were some connections to city officials and unscrupulous behavior on seller's part so I want to make sure if I need to have anything fixed, I get it fixed while I can. Part of me is like it's not a big deal, but the other part is that this is a legal document and I don't want it to possibly cause issues later, plus why should someone be granted potential privileges.

Additionally, one of the mortgage inspections failed, and they needed to correct some stuff. The agent provided me with documentation on the dates the work was to be done. We were allowed to proceed with the mortgage because of this. Well it turns out they never did fix what the mortgage required them to fix. I only had the ability to go off what the agents conveyed to me. Was given date it was scheduled to be fixed and then mortgage proceeded. I had no way of knowing they lied. It wasn't my request to not proceed it was the mortgage company's policy that they weren't proceeding until it was remedied. I was told it was rectified, mortgage was allowed to proceed, so I had no way to know it didn't. They did some other things too and while I've paid or dismissed and moved on, but now seeing this with all the other experiences I've had, I wonder if I need to be concerned.

Thank you.

submitted by /u/ilovegluten
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/1ga6zfw/recordation_discrepency/

Comments

Popular posts from this blog

North Carolina – “One to Buy; Two to Sell”

I realize I will likely have to contact a real estate attorney but also hoping to hear insights and experiences from others! I have a house in NC that I bought by myself in 2009, and paid off, in full, in 2022. I got married in 2023. My spouse and I have not lived in the house as our "marital residence". We have maintained separate residences even after we got married. (That a separate topic!). I am now selling this house. Realtors have told us that my husband has to sign the deed at time of transfer but I am not convinced since the house has not been our marital residence. The realtors like to use the phrase "one to buy; two to sell", which seems like a broad-stroke statement which is not applicable under all circumstances. And of course, the realtors don’t realize the details of my specific circumstances: I purchased and paid for the house in full prior to marriage Only my name is on the deed And most importantly, we have never lived in the house as a marit...

Question With Tricon "Pending ID".....

My wife and i, along with 2 other peopl applied to rent a house, and our application says "Approved, Pending ID". Anyone else know what that means? Do we pretty much have the place or are we missing something? submitted by /u/Itskrueger [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1orixqj/question_with_tricon_pending_id/

How to get started?

Hi! I’m 23F and I just graduated college with an english degree (😅) but i’ve been working in nonprofits since I was 16 and lucked into an amazing first job with an one of the biggest and best real estate non-profits! I love my job so far, but it’s my first time being surrounded by such wealth (and very hard working, deserving individuals.) To be quite honest, I‘ve had a rough few years juggling multiple jobs to finish school, and the idea of myself not living paycheck to paycheck seems light years away. This is all being said, I guess I’m posing the question towards the group of what I can do now to start building that kind of future for myself. I find real estate very interesting, and i’ve loved learning about all the machinations behind development- I’m just not sure where to begin within the industry (investment/rentals are definitely not an option for me yet). I’m also looking to go back to school, but being that I don’t know where to start, I wouldn’t like to begin classes aga...