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Buying or Selling a Home/Is that all there is?
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Question
This is the first time we have brought a home, so I hope this isn't too "simple" a question. After paying off our mortgage (from Wells Fargo), we received a letter stating our loan was pid off in full. But is there more we should do? I remember in the past (I'm 76) I've seen folks "burn their mortgage" or receive a "deed". We have done neither. They DID inform us that they have recorded the payoff with our county (Douglas County Oregon). Is that it? I guess it just seems so simple, I started wondering about it. I did recently read about a man in FL that paid cash for his home but it was still foreclosed because he didn't "register" it! Thank you in advance.
Hi Jim;
Congratulations on paying off your mortgage. You already received a deed but it had a mortage or lien on it which is now free of any mortgage, so if you can get a copy of the recorded payoff with a new deed that reflects that it would be important to have it in your records. Call the county recorder's office and ask for a copy. You always want to have everything in writing!
Best wishes,
Jessica Bryan
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Jessica Bryan
Expertise
buying and selling process such as:
General questions from first time buyers
How to market a home
Why choose a REALTOR
How do I find a REALTOR
Should I consider buying or selling without a REALTOR--how much can I save
Should I remodel or move
How much can I expect to gain by fixing up my home before selling
Helpful tips when selling
Helpful tips when buying
finding a good mortgage loan
what is the difference between banks, mortgage bankers, and mortgage brokers
Questions from the general public, people thinking about getting their real estate license, newly licensed.
Fellow professionals who have interests in networking and how to get started
What is a market evaluation and how does it differ from an appraisal what are the different loan programs
services a REALTOR can perform
when to use a lawyer
when to use escrow
what are the regional differences in the buying and selling process
what is the MLS and how does it work
how can the layman access information on the web--listings and other information
These are just a few of the questions. I can suggest that if I am unable to answer a question I will refer the inquiry to a source that can.
Experience
Anyone who is in this business and who dedicates oneself to professionalism has continued to take classes and along with it,additional credentials, awards and honors. I can list a host of them, but my greatest accomplishments happen to be those of getting first time buyers (who didn't think they could afford to buy a home)into a home of their dreams. The look on their faces when I hand over the keys is worth all of the hard work.
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