My how things have changed.

By
Real Estate Agent with HomeSmart SA541769000

I was cleaning out the garage the other day and found a box of papers that contained some of my parent’s financial records. One of the more interesting items was the Closing Statement from their home purchase in 1955. The Total Cost of the home was $16,460.02.

The entire closing statement was on one 8.5x11 sheet of paper, a total of 18 lines of text. Other interesting items included a cover letter that instructed them to sign one copy and return it to the bank. No notary required, no verification of identity, just a signature.

The part that struck me the most was the way the document was titled. Only written to “Mr. and Mrs. Joseph Domino". No mention whatsoever of my mother’s name. I was speculating; What if something happened to my mother and my father remarried? Would the new Mrs. Domino suddenly become the owner of the home?

I haven’t had a chance to see how the deed was drafted, it probably doesn’t matter any longer. Today’s world has certainly become more complex. I wonder how my parents would think about the selling and closing process we use in today’s world?

It just goes to show how things have changed over the years.

 

Joe Domino is a Realtor® serving the Phoenix & Scottsdale metro area. You can follow Joe's real estate blog at From The Outside Looking In or find more great information about Arizona real estate by visiting his website at www.Scottsdale-AZHomes.com

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Joseph Domino

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Topic:
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Location:
Arizona Maricopa County
Groups:
Old Farts Club
Tags:
relocation
history
closing
home buying
home selling
scottsdale homes
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Rainmaker
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Jeff Masich-Scottsdale AZ Associate Broker,MBA,GRI
HomeSmart Real Estate - Scottsdale, AZ
Arizona Homes and Land Group/ Buy or Sell

That is very cool to see that Joseph Domino 480-390-6011 and thank you for sharing it. On the other side of the coin, I can remember those very high mortgage rates and gas prices with lines. 

Mar 17, 2018 12:19 PM #1
Rainmaker
2,560,363
Myrl Jeffcoat
GreatWest Realty - Sacramento, CA
Greater Sacramento Real Estate Agent

It can really be nostaligic and enlightening to come across old real estate documents like that, Joseph.  I've been licensed since 1981.  I look at homes I sold back in the 1980s, which would sell for many times more today, than they sold back then.

Mar 17, 2018 03:51 PM #2
Rainmaker
2,560,363
Myrl Jeffcoat
GreatWest Realty - Sacramento, CA
Greater Sacramento Real Estate Agent

CONGRATULATIONS Joseph, on having this blog FEATURED in the Old Farts Club group!    

Mar 17, 2018 03:54 PM #3
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Rainmaker
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Joseph Domino 480-390-6011

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