- Interest rates are creeping up nationally hovering lately just above the 4% marker. Will this affect the number of buyers applying for mortgages or have an impact on home sales?
- New home builds locally saw an increase in June for single family home builds as well as in increase in rental apartment new builds. Buyers may be avoiding the low inventory of existing homes for sale and instead turning to new builds where their options are customizable.
- Median homes sales prices increased, following the National median trend; while inventory levels are still lower than this time last year particularly in the below $200,000 price range.
Click Here for the June market analysis for the Colorado Springs area and individual areas.
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A deed is the document that transfers ownership of real estate, transferring title of real property or of real property interest from one party to another.
Within the Contract to Buy and Sell the Deed is addressed in Section 13. Transfer of Title. Subject to tender of payment at Closing as required herein and compliance by Buyer with the other terms and provisions hereof, Seller shall execute and deliver a good and sufficient (type of deed) deed to Buyer, at Closing, conveying the property free and clear of all taxes except general taxes for the year of closing. ...title shall be conveyed free and clear of all liens...
There are 4 commonly used deed forms: General Warranty Deed, Special Warranty Deed, Bargain and Sale Deed, and Quit Claim Deed. The most common type of deed is the General Warranty Deed: The seller guarantees title against defects that existed before the seller acquired title or during the seller's ownership.
The types of deeds differ soley in the degree of protection that the seller promises to the buyer. There are required items for a deed to be valid. Questions about Deeds? Contact me for more information!
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