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Since your Realtor isn't doing it, reach out to his/her broker and ask them to get a corrected one. Bascially, go over your agent's head and tell the broker that since the agent isn't doing it, you are hoping the broker will.
That's unfortunate that your agent ignored your request. Really could have saved you some worry and would have taken about 60 seconds of their time.
Here in MA, we just typically write "Owner of Record" in our contracts. Keeps things simple and prevents a misspelled name from causing issues and certainly prevents concerns like yours.
MikePRU - That would have made things so much more simpler.
You're lucky all the heirs agreed to sell the property. Now, I hope you all agree to the price and the terms of the contract.
Many times leaving real estate to joint heirs can be treacherous, especially if one doesn't want to sell "the house on the lake where Dad taught me to swim and other such wonderful memories of being children."
Could be a major problem if you don't all get along with each other.
Lillie767--Yes, it has been very difficult.
Actually, one of the siblings is going to keep a portion of the 50+ acre parcel (which has been in the family for hundreds of years). He's a retired surveyor and has portioned out what he's going to keep -- but he still needs to agree (as do all of us) to the sale. It's really is difficult to co-own property with others who have different points of view and opinions about this or that. That's something all parents need to keep in mind, I think, as they prepare their wills...
One of us has been designated as the contact for the listing agent, but that's not working out too well either...
Since your Realtor isn't doing it, reach out to his/her broker and ask them to get a corrected one. Bascially, go over your agent's head and tell the broker that since the agent isn't doing it, you are hoping the broker will.
CarnivalGal - The listing agent was selected by a sibling based on a call she made to him inquiring about the property and offering to list it. He liked what he heard from her, and talked to us about letting her list it. I believe she operates on her own, and don't know if she's an agent or a broker or both. She's got her own "firm" and so I don't know if there's anyone to report her too... A lesson in why I should have done my homework.
Thanks so much, rational1. Our agent is someone selected by one of my brothers, and she takes no time to explain things to us. I am used to agents who give a quick snapshot of info around any info/contract they send -- anticipating questions and providing answers. She does not, and phone calls with her are not helpful.
jeeze....
Quote:
Originally Posted by emm74
You are asking for a legal opinion, and you need to ask a local lawyer for that.
Yes. Legal.
Or at least support from a trained and experienced mentor for each of the agents involved.
Heck, the listing agent should have clarified how to market the property before publishing the listing, and long before ever accepting an offer.
It is not uncommon for the listing agent to express the names of all the sellers so a buyers agent can get it right the first time.
And the buyers agent cannot possibly be serious.
We can print any document and enter a bazillion characters into a field with a fine pen and scan it and forward it.
With multiple parties, I would use the "Additional Signatures Addendum" and perhaps enter the Trust as an "Entity Seller" in the appropriate field(s) with the Trustee signing off as such. Trusts and Trustees are not at all unusual.
This really is not difficult stuff for an experienced agent who is motivated to get it all right. You might ask to talk to your agent's BIC to get her the support you should have.
I do not really understand the problem. My wife and I practice mainly in the mature client sales and buys. That sort of stuff is par for the course.
Basically any competent escrow has to straighten in out. The sellers have to align with the entities that own the property on the official records at the recorders office. A trust can never sell a property with owners of records not on the purchase agreement. And they will not even consider attempting it.
My escrow and I might discuss it briefly though I cannot conceive of making an offer that did not include all the official sellers. Why would I waste my time not getting them all.
I would simply use the recorded title document. Simple
I do not really understand the problem. My wife and I practice mainly in the mature client sales and buys. That sort of stuff is par for the course.
Basically any competent escrow has to straighten in out. The sellers have to align with the entities that own the property on the official records at the recorders office. A trust can never sell a property with owners of records not on the purchase agreement. And they will not even consider attempting it.
My escrow and I might discuss it briefly though I cannot conceive of making an offer that did not include all the official sellers. Why would I waste my time not getting them all.
I would simply use the recorded title document. Simple
What is a "recorded title document?"
The sister may well have quit-claimed her interest to the trust, recorded separately. It may be hard to track down for a lay person, and even an agent. Some of our poorer counties make online searches very difficult.
Fundamentally, The listing agent should know how the contract sellers should be represented and provide that information to any buyers agent.
Listing agent would need this information up front to procure properly completed NC Residential Property Disclosure and Mineral, Oil, and Gas Rights disclosure.
It is fairly safe to predict that the transaction will close at an attorney's office, not a title company, in NC.
The closing attorney would confirm adequate title to allow the buyers to procure title insurance.
The sister may well have quit-claimed her interest to the trust, recorded separately. It may be hard to track down for a lay person, and even an agent. Some of our poorer counties make online searches very difficult.
Fundamentally, The listing agent should know how the contract sellers should be represented and provide that information to any buyers agent.
Listing agent would need this information up front to procure properly completed NC Residential Property Disclosure and Mineral, Oil, and Gas Rights disclosure.
It is fairly safe to predict that the transaction will close at an attorney's office, not a title company, in NC.
The closing attorney would confirm adequate title to allow the buyers to procure title insurance.
"recorded title document?" Mostly deeds of one sort or another. There are others which are rare in things like probate actions.
You are correct of course...one of the silly eastern things. We have a bureaucratic administrative process...and the east uses lawyers while it works in the west with high level clericals.
I have trouble thinking of a worse use of a lawyer than running escrow.
And I would think any lawyer practicing in the area would be able to keep the sellers straight.
I would also suggest removing any agent or lawyer who cannot do a simple owner hunt.
If Jane Doe Trust is listed on the contract as the seller then Jane Doe Trust gets all the money at close of escrow.
Has anybody though about that?
As for the sibling keeping part of the property has it been subdivided and recorded at the county?
Don't rely on what anybody "tells" you. Get a lawyer who can make sure all of this is done correctly.
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