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What is M.E.R.S.?

By
Real Estate Agent with Rich Cotton The Waterfront Specialist EXiT Preferred Realty

 This video helps to explain exactly what M.E.R.S is, how it was formed and by whom. I also give some background about why it was formed and how that created problems not only for municipalities but also for homeowners. 

Chesapeake City MD Waterfront Specialist - Rich Cotton Serving the Waterfront/Water Oriented Buyers and Sellers since 1989 in Elkton, Chesapeake City, Earleville, Cecilton, North East, Charlestown, Perryville, Port Deposit, Galena, Kennedyville and surrounding areas. 800-757-7412.

Comments (4)

Nor Yeretsian
Envoy Capitol Realty Inc. - Toronto, ON
Envoy Capitol Realty Inc., Brokerage Toronto

Thanks for the quick update Rich.

How does M.E.R.S interrelate with Title Insurance and Title Companies ?

cheers

Nor

Mar 16, 2011 03:05 AM
Rich Cotton
Rich Cotton The Waterfront Specialist EXiT Preferred Realty - Chesapeake City, MD
Waterfront Specialist Cecil and Kent Counties MD

Nor,

M.E.R.S. has impacted Title companies as well in that the chain of title is not as it should be. This causes delays in closing. It can also affect Buyers of Foreclosed properties.

Mar 16, 2011 06:53 AM
Lee & Pamela St. Peter
Berkshire Hathaway HomeServices YSU Realty: (919) 645-2522 - Raleigh, NC
Making Connections to Success in Real Estate

Rich great explanation on exactly what M.E.R.S is all about.  Wasn't aware that $$ was taken away from counties.  Hmmmm ~  like you said not something we like to hear.  Is there some reason it's not been questioned more?

Pamela

Mar 18, 2011 02:30 AM
Rich Cotton
Rich Cotton The Waterfront Specialist EXiT Preferred Realty - Chesapeake City, MD
Waterfront Specialist Cecil and Kent Counties MD

Pamela,

Transparency is not something forthcoming from the Governemt or the big banks. Is anyone surprised?

 

 

 

 

 

 

 

 

 

 

 

Mar 18, 2011 03:51 AM