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Dutchess_III's avatar

Does a title search show what you paid for a piece of property?

Asked by Dutchess_III (42473points) March 17th, 2015

We finally got our title search back. I haven’t seen it, but the buyer said, “got the copy of title search. oil pipeline right of way, water shed, convenants, and your mortgage. we will need to meet at the bank to pay off your mortgage before we can sign final contract.”

So does it show what we paid, or only what we owe?

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10 Answers

janbb's avatar

I’m not 100% sure but I imagine it must show what you paid.

Adirondackwannabe's avatar

If you know what the going rate for deed stamps was at the time of purchase you can figure the price paid. I think it’s $4.00 per thousand but I’m not sure if it’s changed since I last looked.

LuckyGuy's avatar

It is easy for them to get the info from Zillow.com or trulia .

anniereborn's avatar

The title search will include any deeds that you had to have drawn up. This will include the Mortage which includes the amount you paid.

JLeslie's avatar

What you paid is easily found online in the county property records. You just go to the government appraiser/assessor site and put in the address, name, or parcel/folio number and all the info pops up.

Dutchess_III's avatar

Well, it shows the mortgage we took out at the bank, but it doesn’t reflect the cash down payment we made.

JLeslie's avatar

Do you want the total sale price? That is in the property record on the appraiser site. The total amount that was recorded by the county.

Dutchess_III's avatar

I know what the total sale price was.

JLeslie's avatar

I just reread your original Q. Usually the title agent prepares the closing statement (the HUD) and he coordinates paying off the mortgage, paying off the taxes, and everything else.

Are you saying you and the buyer are doing all the steps on your own? I guess you can do it that way. You need to call whoever holds your bank note and ask what the pay off amount is. They will want to know the date of the “closing.” If you are responsible for any other expenses according to the contract you need to know those numbers like doc stamps and whatever else the government requires. You might want to talk to someone at the county who can help you comply with everything you need to if you aren’t using a title company or lawyer to do the title transfer.

Dutchess_III's avatar

It’s done. I held $18,000 in my hand briefly. It was cool.

She is paying the other $17,000 off to me. We’re doing an owner carry. The title doesn’t transfer until it’s paid.

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