TOTALLY GEEKED!

most of the stuff we've bought through the years has been multi-family--with rental property, have damn sure learned that, in addition to a good title company, you need a good real estate attorney to review all the docs/receipts/deposits/leases/vendor contracts/escrow deposits,etc.

they're worth the $$$

I tend to run with an older crowd. A lot of people I know have paid off their mortgages (15 year and pay an extra principle payment each month, paying off the mortgage in 8 years or so) a while ago.
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Damn I would love to do that!! Never going to happen in this lifetime. I bought in 2006 & put almost $200 K down. The market went to hell & now after paying for almost 10 years & making overpayments I still owe exactly market value. And still have 20 years left on the mortgage.

burns07 wrote:

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most of the stuff we've bought through the years has been multi-family--with rental property, have damn sure learned that, in addition to a good title company, you need a good real estate attorney to review all the docs/receipts/deposits/leases/vendor contracts/escrow deposits,etc.

they're worth the $$$

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 Yes, we are.   

We're the best in town, and people bitch about our fees b/c we run about $50-$100 more a closing, but guess where they come when they need a title mess cleaned up?  And in the end, it would have been cheaper to use us in the first place b/c we don't shortcut.  Of course, they bitch about that, too, when it delays their closing and I have to ask them if they want it done fast or do they want it done right.  Because if you don't get it done right up front, then you will pay for it when you try to sell.  And I swear, we are the only firm that follows up to make sure all the liens actually get cancelled of record after they are paid.  

LL, I have a real estate question for you. When the title company or whoever's job it is filed my paperwork with the county as the new owner of the property they misspelled my last name by one letter. Will that cause me trouble when I try to sell?

Lexxy wrote:

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LL, I have a real estate question for you. When the title company or whoever's job it is filed my paperwork with the county as the new owner of the property they misspelled my last name by one letter. Will that cause me trouble when I try to sell?

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 I can only tell you what our title standards are.  An obvious minor typographical error would simply require a name affidavit, but if it's something like "Mills" vs. "Bills" I'd take it back to them now and make them fix it.  Here, they could simply re-record the original deed with the correction made and a notation of why they are re-recording it on the deed.  If you feel comfortable PM'ing me the actual error, go ahead. 

Lawyerlady wrote:

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Lexxy wrote:

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LL, I have a real estate question for you. When the title company or whoever's job it is filed my paperwork with the county as the new owner of the property they misspelled my last name by one letter. Will that cause me trouble when I try to sell?

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 I can only tell you what our title standards are.  An obvious minor typographical error would simply require a name affidavit, but if it's something like "Mills" vs. "Bills" I'd take it back to them now and make them fix it.  Here, they could simply re-record the original deed with the correction made and a notation of why they are re-recording it on the deed.  If you feel comfortable PM'ing me the actual error, go ahead. 

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 Thanks.  They added an S to the end of my name basically making me plural.

Lawyerlady wrote:

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Lexxy wrote:

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Lawyerlady wrote:

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Lexxy wrote:

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LL, I have a real estate question for you. When the title company or whoever's job it is filed my paperwork with the county as the new owner of the property they misspelled my last name by one letter. Will that cause me trouble when I try to sell?

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 I can only tell you what our title standards are.  An obvious minor typographical error would simply require a name affidavit, but if it's something like "Mills" vs. "Bills" I'd take it back to them now and make them fix it.  Here, they could simply re-record the original deed with the correction made and a notation of why they are re-recording it on the deed.  If you feel comfortable PM'ing me the actual error, go ahead. 

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 Thanks.  They added an S to the end of my name basically making me plural.

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 I always try to show people their deed and ask them to verify the spelling of their name.  It's not full proof, some people obviously need glasses, but it cuts down on those kinds of mistakes.  

It should be ok.  Keep your original deed where you know where it is, though.  

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 I don't think I have a deed do I?  I still owe years on it.  Doesn't my mortgage company have the deed?  I'm suddenly feeling very confused.  I think I know where all my settlement/closing paper work is.

Lawyerlady wrote:

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Lexxy wrote:

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Lawyerlady wrote:

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Lexxy wrote:

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Lawyerlady wrote:

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Lexxy wrote:

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LL, I have a real estate question for you. When the title company or whoever's job it is filed my paperwork with the county as the new owner of the property they misspelled my last name by one letter. Will that cause me trouble when I try to sell?

---

 I can only tell you what our title standards are.  An obvious minor typographical error would simply require a name affidavit, but if it's something like "Mills" vs. "Bills" I'd take it back to them now and make them fix it.  Here, they could simply re-record the original deed with the correction made and a notation of why they are re-recording it on the deed.  If you feel comfortable PM'ing me the actual error, go ahead. 

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 Thanks.  They added an S to the end of my name basically making me plural.

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 I always try to show people their deed and ask them to verify the spelling of their name.  It's not full proof, some people obviously need glasses, but it cuts down on those kinds of mistakes.  

It should be ok.  Keep your original deed where you know where it is, though.  

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 I don't think I have a deed do I?  I still owe years on it.  Doesn't my mortgage company have the deed?  I'm suddenly feeling very confused.  I think I know where all my settlement/closing paper work is.

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 I don't know what state you are in.  We have our deeds, here.  The mortgage is a separate document that shows as a first lien and gets cancelled when paid.

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 I am in VA.  I have never thought about it before & I own (mortgaged) two houses.  I just assumed it was like a car note.  The bank keeps it until you pay it off.