But I thought it was my house!
Agents, make sure you know what you are selling. Are the names correct? Who is on the title? Have you checked the tax ID? Have you checked the deed? Is the estate in a trust? Is there one or more trustees? Do you have documentation of who legally can sign? Do you have their power of attorney or letter of administration? Has anything changed since someone created those documents? A death, a divorce, or someone added or removed? Are there siblings or children from previous relationships? What, if any, are they entitled to?
A while ago, I was called to list a home—not one she wanted to sell! She and her late husband purchased their forever home twenty-five years ago. They were so proud that it was paid for without mortgage or debt. They wanted that security for each other in case one went before the other. The widow devastated after his death, was contacted by a stepdaughter and wanted the house sold. How could she?? The entire family was aware this home was for their retirement.
They had planned for their daughter to inherit their home, but after they passed away, believing there was a strong relationship and complete trust in her.
The owner did not want to sell or move, so she secured her place by striking a deal with her stepdaughter and obtaining a mortgage on her fully-owned home. As a result, she found herself making mortgage payments on a property she had intended to be debt-free forever.
This is a reminder to make sure you get legal advice.
Thinking of Selling a Home
Call Margaret Rome
Comments(34)