Main Real Estate Do’s &
Don'ts
-and
Good
Things
to
Know About
Real
Property
(in progress)
Subject: Valuation
DO:
Properly value your home prior to listing. This is one of the most important things a seller needs to do. For the best valuation, you should consider getting an appraisal. Only licensed appraisers are qualified to perform this task. A real estate agent who is not licensed as an appraiser, will be only able to do a comparative market analysis; this is not as valid as an appraisal. Suggestion: Take the time, and do it
right.
(Note: Good news! I am an appraiser, and I’ll help.)
Work with a Realtor-Appraiser. You’ll be given the best information about the value of property you
desire.
Subject:
Deeds Which Convey Property Rights
- General Warranty Deeds vs.
Special or Limited Warranty Deeds
When transferring real property, the Seller (known also as the Grantor), is
required to provide a specific warranty to the Purchaser
(Grantee, receiving the grant) by issuance of a document known as a deed.
The highest form of deed to be received is the
General Warranty Deed.
In receiving this deed, the grantee will have the fullest protection and
warranty against title defects and will receive the highest
quality of title. The grantee receives 5 warranties (covenants):
1-The grantee is guaranteed that the grantor owns the
property with the right to convey to the grantee the rights of ownership.
(Covenant of
Seisin)
2-The grantee is guaranteed that there are no encumbrances
against the property, except those which may be noted in the deed.
(Covenant
Against Undisclosed Encumbrances)
3-The grantee is guaranteed that there are no superior claims
or right(s) to the property by any other persons or entities.
(Covenant of
Quiet Enjoyment)
4-The grantee is guaranteed that if a superior claim to title
would arise, the grantor will do whatever is necessary to deliver
clear title.
(Covenant of Further Assistance)
5-The grantee is guaranteed that if a title claim cannot be
cleared, the grantor guarantees monetary compensation for the loss.
(Covenant of
Warranty Forever)
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
If a grantee receives a Special or Limited Warranty
Deed, there is only 1 Covenant.
1-The grantee is guaranteed that there are no
encumbrances against the property, specifically and only those caused
the grantor. There is no
guarantee against previous owners.
(Covenant
Against Undisclosed Encumbrances)
NOTE: The Special or Limited Warranty Deed is
mostly used by trustees, custodians, agents, and executors.
Subject: Home Condition Before
Listing
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DO:
Consider a home inspection if your home is aged or if you
want to
expedite the sale of your
home. A home inspection will help you better see home deficiencies (if you have any). By correcting these before listing, you’ll be able to better market your home and overcome any issues a purchaser would have
had.
The time and aggravation you can save is astounding. Plus, you’ll generally be rewarded with a higher sales
price!
Consider painting and decorating for a fresh look.
Generally, neutral color schemes work best.
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Current Service Provider List:
for Professional
Interior Painting:
- M. A. Painting
Miguel Odria
(703) 623-6826
                 
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