Home Buying in Falmouth>Question Details

Russell Dodge, Home Buyer in Plymouth, MA

Why do some realtors put properties on the market without the Deed to that property being available and specifically causing lost time to go forward ?

Asked by Russell Dodge, Plymouth, MA Thu Mar 1, 2012

My wife and I recently put in an offer to a property in Falmouth and its bank-owned. The deed is nowhere to be found and it halts the entire proceedure because the courts or whoever did not have the deed to proceed.....A complete inconvenience to us and the entire negotiation....Why is that allowed to happen???

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4
Hi Russell,
I think you may be getting some miscommunication somewhere. The deed should be recorded at the Registry of Deeds (public record) when the transfer to the bank first happened. The bank does not need to have their original deed in hand to sell you the property. I am assuming this is a foreclosed property. It should have been recorded when they held an auction and took the property from the owner. There are a lot of homes that were foreclosed on incorrectly and it may be tied up in the courts that way. This is something a real estate agent would not know unless the bank (sellers) told them. If not you are right the agent should be verifying that their customer (seller) is the legal owner of the property.
1 vote Thank Flag Link Thu Mar 1, 2012
I must have heard this complaint a thousand times!

Exactly how would a Realtor know that a Deed was not available?

Are you suggesting that the Realtor did it deliberately?

Good luck and may God bless
1 vote Thank Flag Link Thu Mar 1, 2012
Because they weren't doing their job properly. either laziness or inexperienced . I have over 18 yrs full time experience selling homes on Cape Cod. Call me if you want to work with a professional Real Estate agent.
0 votes Thank Flag Link Sat Feb 9, 2013
Well the Realtor shouldn't put any Bank owned home on the market that not available for Sale. I completely agree with you. They cant sell it without an available clear Deed. The Realtor may be an inexperienced Short Sale Realtor or may have never even have asked the Bank that question until too late. If you are looking for an experienced Short Sale Realtor please let me know if I can help you?
0 votes Thank Flag Link Sun Feb 3, 2013
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