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Real Estate Contracts >Signed Sealed and Delivered
Most people assume that when a real estate deed is signed, it is effective. However, there is one more essential part of the process. Even if a deed is properly executed, it is not effective until it has been delivered to and accepted by the buyer. This can sometimes create bizarre results. Here is an example.
An elderly man properly signed, sealed and acknowledged a deed to his nephew and placed it in an old tin box in his room, where it was discovered shortly after he died. The nephew lost a contest with other heirs over the property because the deed was not delivered, and therefore, was not effective at the time of the old man's death.
Until the deed is delivered, the title remains with the seller, who could change his mind at any time and destroy the deed. But once the deed has been properly delivered and accepted, the title passes and cannot be revoked. Thus the old, old saying: signed, sealed (and notarized) -- and delivered.
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| Q |
What are three of the best indicators of real estate market trends?
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| A |
Existing home sales, new home building and mortgage interest rates.
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Mark Holodnak
Firebird Realty
1838 West Parkside Lane Suite 105
Phoenix, AZ 85027
Cell: 480.747.2709
Office: 602.218.5338
Fax: 480.907.2344
Mark@MarkSellsAz.com
I have helped many buyers purchase the best home at the best price and helped sellers get the best price for their home in this market.
Ask me how I can help you.    
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