Category: Ranches (4)

Quit Claim Deeds

Quit Claim Deeds

 

A lot of people that own land or Lots typically transfer ownership via a Quit Claim Deed. Which if done correctly is not a problem at all. However with the internet making form so readily available I am seeing more and more deeds that are completed incorrectly or not filed.

In the last 2 months I have run into these type problems in several forms. One person use commas (,) in the legal description of land instead of the word “of”  i.e. Northwest ¼ of the Northwest ¼ –NOT—Northwest 1/4,Northwest 1/4 . Another common mistake is the use of the owners names John Doe and Jane Doe need to have a further description behind the names. i.e. John Doe and Jane Doe Husband and Wife or John Doe and Jane Doe single persons.

Another common problem we have been seeing is a tract of land being deeded off to someone else after a bankruptcy of divorce has been filed. I don’t think these were done to hide anything from the bankruptcy or divorcing spouses at least not in the case of the one I have run into lately. But if the Quit Claim Deed transfer takes after the date of the bankruptcy or divorce filing it now has a cloud on the tile. In the case of a bankruptcy the bankruptcy will have to be reopened and the property dealt with. In the case of t a divorce the ex-spouse will have to sign a new quit claim deed.

And the final problem is someone give you a quit claim deed and you do not file it at the county court house in the county the land is located in you may or may not have legal ownership, I will leave that to the attorney’s.

The bottom line is have an attorney or title company review it for you and check to make sure no leans have been levied on the property before you take ownership. The small fee they would charge you will save you a big headache and possible legal fees in the future.

 

Okay Tulsa, Oklahoma the Federal Reserve announced that the Fed officials would take a (patient approach) to future interest rate moves. Jerome Powell Chairman of the Federal Reserve commented on economy by stating it is healthy, but did note some conflicting signals along the last several months.  Powell also commented inflation was not a concern with respect to Wage growth.

In addition president Trump decided postpone the 15% tariff increase on additional Chinese imports that were supposed to go into effect in March. Officials said the Tariffs are suspended until further notice.

With all of this good new the BAD news is the housing supply of home for sale in the Tulsa metro area are in short supply. In others word we need listing.

Jim Bigelow and Lindsey Stucky from Bigelow Group Real Estate
The Bigelow Group team: Jim Bigelow, daughter Lindsey Stucky, Scot Jobe, Ali Herrmann, Kathy Zwart

I know some of this may sound silly but it will affect your ability to qualify for a mortgage.

  1. Don’t change jobs even if you get a large raise. Ask the new employer if you can wait to start until your mortgage is closed. Also don’t reduce hours, quit or start your own company.
  2. Just because you are on vacation don’t make a late payment for anything. Make the payment early and be safe.
  3. Don’t buy a vehicle for any reason again wait until after closing. You will be glad you did.
  4. Okay maybe your new house deserves some new furniture but don’t buy it until after closing. Just writing up the ticket or getting no payment for a year can and will jeopardize your mortgage closing.
  5. Don’t close a credit card, increase the balance or max out the limit.
  6. Oh yah Don’t Shop for any new credit cards of any type either.
  7. Do not co-sign for a loan or credit card with another person.
  8. Don’t spend any of your down payments money even if you think you have more than enough.
  9. Do not take a loan against your retirement/investment funds or get a gift for the closing cost without talking with your lender first. There are specific guidelines that must be followed.
  10. Don’t make any large deposits into your bank account outside of payroll. And if you do have the funds documented as in some case these funds will not be allowed to be used for closing.
  11. Do not deposit cash
  12. Do not change bank accounts or transfer funds to a new bank
  13. Continue to pay all of your existing bills timely
  14. Do check your email on a regular basic as your lender may need addition documentation and respond as timely as possible.

I know this sounds like common sense but will all do things on a daily bases without thinking that yes we can afford but causes an underwriter to ask for additional information or just reject the loan at the last minute.

Call me anytime and let’s discuss real estate. We are here to help or Check Out Heather Jobe at First Mortgage  www.firstmortgageco.com/heatherjobe

Ranch

CUSTOM PHOTOGRAPHY / VIDEOS

Today, all major studies show the vast majority of prospective home buyers utilize the internet to search for homes. The same studies also report buyers will spend more time looking at homes which have quality pictures and/or videos for them to view than those that don’t. At The Bigelow Group / Coldwell Banker Select we recognize the importance of photos and video in selling homes today.

Therefore, we now have a professional state-of-the-art video tours which may include aerial drone footage, indoor tours and voice-overs. These stunning, high definition videos highlight your home and its amenities to give the viewer the best impression of your home and keep their attention on your property. We also provide a YouTube video which can be shared easily online to generate more interest in your home.

The Bigelow Group / Coldwell Banker Select we also know how to disseminate these photographs and Videos to be included on all the residential home searches to include www.coldwellbanker.com, www.cbtulsa.com, www.jimbigelow.com, www.trulia.com/Homes, www.Realtor.com, www.zillow.com, www.youtube.com/user/realestate, just to name a few.

Contact Jim Bigelow, Lindsey Stucky, Ally Herrmann, Scot Jobe or Kathy Zwart to learn more about our custom photography & videos and how they can work to get your home SOLD!

Jim Bigelow Associate Broker Coldwell Banker select

918-640-4657, Jim@jimbigelow.com, www,jimbigelow.com

Serving the Tulsa Metropolitan area.