Home buying thread

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Daidraco

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If you're committed to learning about it, read the article linked below. But really, its just fake outrage used to sell another monthly subscription to "check" on your title periodically.
www.forbes.com

The Home Title Theft Baloney

Some gullible folks buy insurance against their home getting stolen by scammers. Maybe the real threat is from those same insurers.
www.forbes.com www.forbes.com
 
Seananigans

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Daidraco said:
If you're committed to learning about it, read the article linked below. But really, its just fake outrage used to sell another monthly subscription to "check" on your title periodically.
www.forbes.com

The Home Title Theft Baloney

Some gullible folks buy insurance against their home getting stolen by scammers. Maybe the real threat is from those same insurers.
www.forbes.com www.forbes.com
Click to expand...

Sweet, I can add that to my monthly subscription that cancels other monthly subscriptions that I'm no longer using, and my monthly subscription that manages my monthly subscriptions that I intend to keep.
 
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Cad

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Khane said:
I'm guessing the fraudulent part of that text encounter would be them pretending to be a realtor and buyer to get you to actually, physically sign your deed over to them without them actually giving you any money.

I just don't see how anyone could steal your deed just by stealing your identity.

My deed is in a safe... in my house. How is a text message going to change that?
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Unless you live in an extremely strange state your "deed" is in the property records of your county. Houses don't have titles like cars that you can sign over.
 
Khane

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Cad said:
Unless you live in an extremely strange state your "deed" is in the property records of your county. Houses don't have titles like cars that you can sign over.
Click to expand...

I suppose I misspoke. When I say deed I mean warranty of deed. Which I believe every state has/does so that scams like this can't happen. That warranty of deed is what's sitting in my safe and very specifically spells out who I bought the property from, for how much, on what date and is signed by the sellers and their attorney as well as myself. And even has barcodes.
 
Palum

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Khane said:
I suppose I misspoke. When I say deed I mean warranty of deed. Which I believe every state has/does so that scams like this can't happen. That warranty of deed is what's sitting in my safe and very specifically spells out who I bought the property from, for how much, on what date and is signed by the sellers and their attorney as well as myself. And even has barcodes.
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Ok but you don't need that to "sell" your house, just signatures, which can be forged.
 
Khane

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Well if we're talking about forgers straight up why would they send out text messages? To let you know they're about to forge documents to try and steal your house?

I'm just having a hard time wrapping my head around this being possible without the homeowner themselves doing something to assist.
 
Palum

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Khane said:
Well if we're talking about forgers straight up why would they send out text messages? To let you know they're about to forge documents to try and steal your house?

I'm just having a hard time wrapping my head around this being possible without the homeowner themselves doing something to assist.
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What texts are you talking about? There's people trying to buy houses cheap "legitimately", people trying to scam you (offer ridiculous amount need you to pay for xyz service for $1500 first), and probably some tangentially related identity theft stuff.
 
Khane

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Palum said:
What texts are you talking about? There's people trying to buy houses cheap "legitimately", people trying to scam you (offer ridiculous amount need you to pay for xyz service for $1500 first), and probably some tangentially related identity theft stuff.
Click to expand...

The initial comment that sparked the conversation was about a text message
 
Cad

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Khane said:
I suppose I misspoke. When I say deed I mean warranty of deed. Which I believe every state has/does so that scams like this can't happen. That warranty of deed is what's sitting in my safe and very specifically spells out who I bought the property from, for how much, on what date and is signed by the sellers and their attorney as well as myself. And even has barcodes.
Click to expand...
I'm not being shitty to you, property law is weird as shit. The "warranty deed" you're referring to is a transfer instrument, it's not a title. A deed is just a document that transfers ownership from one person to another. If you look at the "final" deed in your property's record, it will be a transfer from the previous owner to you. Also in the property records will be transfers from all the previous owners to the next owners, all the way back to the patent grant from the state back in the 1700's/1800's depending on what state you're in.

There are "warranty deeds", "quitclaim deeds", special warranty deeds, etc... they all have slightly different things they're transferring with different limits of liability on the transferor. But there is no document that you hold that you need to keep safe that guarantees you own the property. Your ownership of the property is in the property records filed with the county/state. It's good you're keeping documents safe, I'm just telling you that doesn't do what you might think it does.
 
Lanx

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Kais said:
I offered above list and "was competitive" but won't know the final number until after it closes. Sellers agent is pretty tight lipped about it.
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Happened to me,

In the end I attribute it to racist white ppl, why?

House was 490; agent said they would like to see an offer over 500, ok... Why not just list it for that then? Whatever offer 505 and contingency of going up to 525 lost bid.

Check Zillow later (had already got a house by then, wasn't looking for a dream home just a home in the area, ended up 2 blocks away.) Sold for 501k

Literally lost upwards of 24k for what reason?
 
Daidraco

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Lanx said:
Happened to me,

In the end I attribute it to racist white ppl, why?

House was 490; agent said they would like to see an offer over 500, ok... Why not just list it for that then? Whatever offer 505 and contingency of going up to 525 lost bid.

Check Zillow later (had already got a house by then, wasn't looking for a dream home just a home in the area, ended up 2 blocks away.) Sold for 501k

Literally lost upwards of 24k for what reason?
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If it wasnt for extenuating circumstances in real estate sales, I would agree with you. But in this case, it likely more of a binding issue rather than a racist one. Even though racism can and Im sure does happen, realtors are generally very guarded in what the say about the prospective buyers (and to an extent, sellers) out of fear for breaking a law dealing exactly with that, losing their license permanently in most cases and the fines that go along with. As there are some popular cases out there that in not so many words "aint gone be no honkies in my neighborhood!" (Throw your reverse card.)
 
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Khane

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Daidraco said:
If it wasnt for extenuating circumstances in real estate sales, I would agree with you. But in this case, it likely more of a binding issue rather than a racist one. Even though racism can and Im sure does happen, realtors are generally very guarded in what the say about the prospective buyers (and to an extent, sellers) out of fear for breaking a law dealing exactly with that, losing their license permanently in most cases and the fines that go along with. As there are some popular cases out there that in not so many words "aint gone be no honkies in my neighborhood!" (Throw your reverse card.)
Click to expand...

Haha, well maybe in investment property/multi family scenarios realtors try to keep it professional and anonymous but in single family buying scenarios realtors tell buyers to write sentimental snot nosed bullshit letters spelling out entire life stories to get an edge with the dumb boomers that are selling and totally want to sell to a nice family who will appreciate the house as much as they did.

Realtors don't give a flying fuck about your privacy and mostly have no professional scruples whatsoever
 
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Cad

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Khane said:
Haha, well maybe in investment property/multi family scenarios realtors try to keep it professional and anonymous but in single family buying scenarios realtors tell buyers to write sentimental snot nosed bullshit letters spelling out entire life stories to get an edge with the dumb boomers that are selling and totally want to sell to a nice family who will appreciate the house as much as they did.

Realtors don't give a flying fuck about your privacy and mostly have no professional scruples whatsoever
Click to expand...
The listing agent for my house told me how much to counter so I could win the final bid because she didn't like the other family. They are truly scum who have no ethics.
 
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Sanrith Descartes

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Cad said:
I'm not being shitty to you, property law is weird as shit. The "warranty deed" you're referring to is a transfer instrument, it's not a title. A deed is just a document that transfers ownership from one person to another. If you look at the "final" deed in your property's record, it will be a transfer from the previous owner to you. Also in the property records will be transfers from all the previous owners to the next owners, all the way back to the patent grant from the state back in the 1700's/1800's depending on what state you're in.

There are "warranty deeds", "quitclaim deeds", special warranty deeds, etc... they all have slightly different things they're transferring with different limits of liability on the transferor. But there is no document that you hold that you need to keep safe that guarantees you own the property. Your ownership of the property is in the property records filed with the county/state. It's good you're keeping documents safe, I'm just telling you that doesn't do what you might think it does.
Click to expand...
So on the subject of deeds, why does every one I see say something to the effect of "for a consideration of $10 (or $100)...". Is that some old legal language that just continues over time?
 
Cad

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Sanrith Descartes said:
So on the subject of deeds, why does every one I see say something to the effect of "for a consideration of $10 (or $100)...". Is that some old legal language that just continues over time?
Click to expand...
A deed is just a contract, can't have a contract without consideration. Consideration is what you are receiving in return for what the other person is doing. In this case you're transferring property to someone in return for... they put $10 or $100 in there to hide the actual purchase price.
 
Kithani

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Cad said:
The listing agent for my house told me how much to counter so I could win the final bid because she didn't like the other family. They are truly scum who have no ethics.
Click to expand...
A lawyer calling another profession scum with no ethics lmao

Come On What GIF by MOODMAN
 
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Daidraco

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Lanx said:
hey Daidraco Daidraco , you use this?


looks like bs imo
Click to expand...
I've watched and read plenty about it. Its been an ongoing thing. What I think is fucked up about the case in particular, is that other companies are collecting and sharing that information as well. Zillow is constantly telling me what I should be renting shit out for in the area, and unlike house pricing.. Zillow is pretty spot on for how much Rent I should be collecting from a property. Or even a potential property, so you can look at a property, see its rent potential, and see if it "maths out" whether its a good buy or not.

There is another company that went through it recently in another field, literally and figuratively - where they were collecting information on Farm land and analyzing what parcels were giving the best profits and selling that information to companies. Farmers/government officials went after this one particular company with a hard on, too. Yet, just like in real estate, theyre completely ignoring companies like John Deere - which have long sense turned their focus to satellites, tracking of profitability, AI, etc. No longer are they just Tractor manufacturers.

Until the Supreme Court or Congress starts making some serious changes - the little man in all of this shit is going to continue to get shit on. I honestly dont see it changing anytime soon.
 
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