Hello, everyone! This is Dave from TitleSearch.com, and in today’s video, we’ll unravel the mystery surrounding the search for a property’s sales price in your title search. Is it listed on the title search? Let’s explore the factors that come into play.
1. Consideration on Warranty or Grant Deeds
The sales price of a property might be found on a title search if the transaction involves a warranty deed or grant deed. In such cases, the consideration or transfer amount could be explicitly stated on the deed. However, it’s common for this amount to be nominal, such as ten dollars, to comply with the statute of frauds.
2. Corresponding Mortgage Percentage
Examining the corresponding mortgage can provide insights. Mortgages often represent a percentage of the property value. By analyzing the percentage difference between the mortgage amount and the property’s total value, you can estimate the sales price.
3. Documentation Fees
Another avenue is to look at the documentation fees. Counties charge fees based on the value of the document. If you know the fees charged and the percentage, you might calculate the approximate sales price.
4. Tax Assessor’s Records
The assessed value in the tax assessor’s records can be indicative of the sales price. If the assessed value aligns with the property’s transfer date, it could suggest the reported sales price to the tax assessor.
5. Comparable Sales (Comps)
In the absence of explicit sales price information, turning to comparable sales in the area might provide a clue. Recent transactions of similar properties in size, proximity, and timeframe could help estimate the sales price.
6. Collaborate with Title Experts
For a comprehensive understanding of where the sales price might be located in your title search, consider collaborating with title experts. They can guide you through the search process, pointing out relevant documents or indicators.
7. Connect with TitleSearch.com
If you have specific questions or need assistance with your title search, reach out to us at TitleSearch.com. Our team is here to provide expert guidance tailored to your needs.
Unveiling Property Sales Prices
Navigating through a title search to find a property’s sales price requires a keen eye and an understanding of various indicators. By exploring the avenues mentioned, you can decode the sales price mystery and gain valuable insights.
Remember: We’re Your Partners in Title Searches!
Thank you for joining us today. Remember, we’re here to be your partners in unraveling the complexities of property sales prices within your title searches. If you have more questions, feel free to get in touch.