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| Subject: QUESTION OF VALID DEEDS | |
Author: VICKERY | [ Next Thread |
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] Date Posted: 12:14:53 09/04/11 Sun Recommedation to owners of property purchased from an individual, company or Corporation; HAVE THE DOCUMENT YOU RECEIVED WHEN YOU PURCHASED YOUR PROPERTY VERIFIED BY A TITLE COMPANY. WHILE I PERSONALLY INSIST ON EITHER A GENERAL WARRANTY DEED, sometimes a Special Warranty Deed, IF I PAY CASH but if my purchase is financed by the seller, I prefer A GENERAL WARRANTY DEED WITH VENDORS LIEN. SOMETIME INEXPERIENCED BUYERS ARE LURED TO A "GOOD DEAL" OR "EASY FINANCE" AND ASK FEW QUESTIONS! YOU WILL NEED SUCH TITLE VERIFICATION AT SOME POINT ANYWAY SHOULD YOU MORTGAGE YOUR PROPERTY OR SELL YOUR PROPERTY! THE COST FOR SUCH IS NOT SO EXPENSIVE AND YOU WILL SLEEP BETTER ONCE VERIFIED AND PROVEN GOOD. I ONCE BOUGHT A COMMERCIAL PROPERTY WITHOUT GOING THROUGH A TITLE COMPANY AND LATER LEARNED I HAD PURCHASED A PROPERTY WITH A SIMPLE 3% OUTSTANDING INTEREST! WHAT A NIGHTMIRE! IT CAN GET EXPENSIVE AND TAKE A VERY LONG TIME TO CURE TITLE ISSUES. SUCH PROPERTIES WITH KNOWN DEFECTS ARE PURCHASED AT DEEP DISCOUNTS AND DEALT WITH BY MORE SOPHISTICATED BUYERS. HOWEVER, THE SOONER YOU GET THE DETERMINATION AND LEARN IF YOU SHOULD BE CONCERNED, THE BETTER OFF YOU ARE. REGARDING WETLAND ISSUE PROPERTIES. ACCORDING TO A CORP OFFICIAL, THERE ARE MANY CONCERNS ON AND OFF THE ISLAND SO PERHAPS YOU SHOULD CONTACT THE ARMY CORP OF ENGINEERS TO DETERMINE IF THE LOT OR PROPERTY YOU ARE CONSIDERING MAY BE REGARDED AS HAVING WETLAND ISSUES. A GOOD PLACE TO START IS WITH THE COUNTY ENVIRONMENTAL DEPARTMENT. We learned this the hard way and had to go through a delineation process to clear our property which I assure you was expensive at best. EVEN IF YOU HAVE PURCHASED PROPERTY ALREADY, on or off the island, PERHAPS YOU SHOULD CONSIDER VERIFYING WHETHER OR NOT YOU SHOULD BE CONCERNED OF SUCH ISSUES before you plan to use the property. BEST OF LUCK! Please keep those e-mails comming! We need your support. Vickery [ Next Thread | Previous Thread | Next Message | Previous Message ] |