How do I get the deed to my house when my mortgage is paid off?

Author Message
Icon Mini Profile bschouwen





Joined: 05 Jun 2009

Posts: 1

1.51 Dollars($)
Post Posted: Fri Jun 05, 2009 7:52 am    Post subject: How do I get the deed to my house when my mortgage is paid o
Like
Dislike

I recently paid off my mortgage and the bank gave me an abstract and told me they've released the mortgage at the county courthouse. What do I need to do to get the deed? If I'm planning to sell my house privately, what do I need to do to prepare for this?
Icon Mini Profile gmakerley
gmakerley
Community Mentor
Community Mentor

best lender badge

Joined: 09 Nov 2007

Posts: 12377
Location: bloomfield, ct
58.69 Dollars($)
Post Posted: Fri Jun 05, 2009 7:59 am    Post subject:
Like
Dislike

you ought to have received the original deed shortly after you purchased that home. check with the title agent/lawyer who closed the loan in the event you didn't receive it. keep in mind that you may have it and not be aware of it...purchasing sometimes clouds our minds and we fail to take note of the documentation we receive at that time. if you have a file with all the related documents from your purchase, you ought to find that document there.

in any event, the deed would have been filed with your local town clerk, county clerk, etc. depending on where you reside. you can always get a certified copy of it if you feel the need. in selling you won't need to present a deed anyway...the title work that needs to be done would be done by the attorney representing your buyer (hoping they have one, of course).
to prepare for the sale...clean your home up nice in the event it needs it and get a good feel for what the true value of the home is so that you'll know how to price it to make it attractive to buyers (a realtor can help, or an appraiser if you wish to pay for an appraisal, which might be worth the money).

_________________
George M. Akerley
Mortgage Consultant
Word of Excellence- Writing/Editing/Proofreading
Icon Mini Profile robertsmith2005





Joined: 22 May 2009

Posts: 338

-0.48 Dollars($)
Post Posted: Fri Jun 05, 2009 8:20 am    Post subject:
Like
Dislike

Buyer may ask for dded copy for authentication purpose. so you can get duplicate certified copy from local office.
Tdillon

Guest







Post Posted: Wed Aug 26, 2009 8:36 am    Post subject: Selling my home
Like
Dislike

My home is paid off and I want to sell it to a friend and do the financing.
Can I do this without an attorney and if so what documents would I need
and where should they be recorded
Icon Mini Profile gmakerley
gmakerley
Community Mentor
Community Mentor

best lender badge

Joined: 09 Nov 2007

Posts: 12377
Location: bloomfield, ct
58.69 Dollars($)
Post Posted: Wed Aug 26, 2009 8:55 am    Post subject:
Like
Dislike

you can do it; i strongly advise legal counsel. unless you have expertise of your own with legal documents, you could be setting yourself up for failure.
one alternative i will mention - if your friend is represented by counsel, you could rely on that attorney. of course, you'd want to do your homework to ensure that you'd be working with someone trustworthy.

_________________
George M. Akerley
Mortgage Consultant
Word of Excellence- Writing/Editing/Proofreading
Icon Mini Profile robertcampbell07





Joined: 25 Aug 2009

Posts: 52

-0.11 Dollars($)
Post Posted: Wed Aug 26, 2009 11:03 am    Post subject:
Like
Dislike

you can sell your property . but as suggested by George, take help of attorney.
Guest









Post Posted: Thu Apr 15, 2010 4:22 am    Post subject:
Like
Dislike

can i use my houe thats paid off but has a lein on it for a downpayment for another house?
Icon Mini Profile sara
sara
Moderator



Joined: 05 Jul 2006

Posts: 3236
Location: New Brunswick, New Jersey
581.38 Dollars($)
Post Posted: Fri Apr 16, 2010 2:32 am    Post subject:
Like
Dislike

Hi Guest,

You will have to pay off the lien and then you would be able to get a loan on that property which you will be able to use as a down payment. Unless your property is free and clear, lenders will not be ready to give you a loan.

Take care

_________________
Find me at FB: http://www.facebook.com/people/Sara-Jones/100002976822020
Join me at G+: https://plus.google.com/109953528133398164155/posts?partnerid=gplp0
Icon Mini Profile gmakerley
gmakerley
Community Mentor
Community Mentor

best lender badge

Joined: 09 Nov 2007

Posts: 12377
Location: bloomfield, ct
58.69 Dollars($)
Post Posted: Sat Apr 17, 2010 9:51 am    Post subject:
Like
Dislike

i'd think that the lien, depending on its type and the amount of the debt owed, would be taken care of by the next lender with the proceeds of the new loan. you ought not to have to pay the lien off first in order to go obtain a new loan.
_________________
George M. Akerley
Mortgage Consultant
Word of Excellence- Writing/Editing/Proofreading
moreno

Guest







Post Posted: Fri Sep 16, 2011 10:49 am    Post subject: paid off mortgage in Puerto Rico
Like
Dislike

I recently paid my mortgage of a house purchased in Puerto Rico. I recently received my original note from bank. What do I do next? should I request the original deed to house or do they send it me on a later date. I only received the original note page signed at the day of closing. Thank you.

Moreno
Icon Mini Profile jameshogg
jameshogg




Joined: 20 Dec 2005

Posts: 12157
Location: Nevada
1221.05 Dollars($)
Post Posted: Sun Sep 18, 2011 11:43 pm    Post subject:
Like
Dislike

Hi moreno,

You have mentioned that you received the original note from the bank. Now you should record the note at the county recorder's office which will help you declare the property as free and clear of any kind of mortgage.

Thanks
Guest









Post Posted: Wed Sep 19, 2012 3:28 pm    Post subject:
Like
Dislike

i need 10000 loan on my house that is paid off
Icon Mini Profile jameshogg
jameshogg




Joined: 20 Dec 2005

Posts: 12157
Location: Nevada
1221.05 Dollars($)
Post Posted: Thu Sep 20, 2012 10:56 pm    Post subject:
Like
Dislike

Hi Guest,

You will have to contact the lender and apply for a loan. It will depend upon the lender whether or not he will agree to provide you with loan of such a small amount.

Thanks
All times are GMT - 7 Hours
Page 1 of 1

 

Page loaded in 0.484 seconds.