Warranty Deed vs. Special Warranty Deed

Special warranty deeds are becoming more common in closing situations. So what's the difference between a general warranty deed and a special warranty deed? Ageneral warranty deedis a promise to the buyer that the seller will warrant any prior problems with title, not just those that occur during the seller's ownership, but back through the chain of ownership. In contrast, aspecial warranty deedis a deed in which the seller warrants or guarantees the title only against problems or defects arising during the period of his or her tenure or ownership of the property. The grantor makes no warranty against defects existing before the time of his or her ownership and, therefore, a buyer has no recourse against either his seller or anyone back in the chain for breach of warranty. As an example, builders often give special warranty deeds. Since they may have only owned the property long enough to build the homes, they generally don't want to warrant new homebuyers against issues that may have clouded title when the subdivision was part of an old family farm, for example. Bank-owned foreclosure property is another example where you often see special warranty deeds. The foreclosing bank, like the builder, has no close relationship to the property and generally won't warrant anything about the condition of title before they acquired the property through foreclosure. To better protect homebuyers against potential title and ownership issues, always recommend they purchase an Enhanced Owner's Title Insurance Policy issued through Realty Title&Escrow.  For more information please contact your Closing Agent or AttorneyTHANKS TO REALTY TITLE FOR THIS GREAT INFORMATION..............

Now is the Time to List Your Home!

The time of year can make a difference both in the amount of time it takes to sell your home and in the ultimate selling price. Most of the time, the real estate market picks up as early as February, with the strongest selling season usually lasting through May and June. You should also consider supply and demand, and other economic factors. With the onset of summer, the market slows. July is often the slowest month for real estate sales due to a strong spring market putting possible upward pressure on interest rates. Also, many prospective home buyers take vacations during mid-summer. Following the summer slowdown, real estate sales activity tends to pick up for a second, although less vigorous, fall market, which usually lasts into November when the market slows again as buyers and sellers turn their attention to the holidays. Sellers often wonder whether or not they should take their homes off the market for the holidays. Generally speaking, you'll have the best results if your house is available to show to prospective buyers continuously until it sells. If your home is shown and priced correctly…….List it Now and let the market come to you regardless of the season of the year. EXAMPLE: Home Sales in Cookeville Tennessee  (Site-Built Homes SOLD between $100,000 - $150,000 in ) Oct-Dec 2009 = 54 Homes Sold Jan-Mar 2010 = 44 Homes Sold Apr-Jun 2010 = 84 Homes Sold Jul-Sep 2010 = 28 Homes Sold

Real Estate for Sale in Tennessee