Jack Says Bring it Back to Sesame Street Level?

Jack Butala: Jack Says Bring it Back to Sesame Street Level? Every Single month we give away a property for free. It's super simple to qualify. Two simple steps. Leave us your feedback for this podcast on iTunes and number two, get the free ebook at landacademy.com, you don't even have to read it. Thanks for listening.

Jack Butala:

Jack Butela with Jill DeWit.

Jill DeWit:

Hi.

Jack Butala:

Welcome to our show. In this episode Jill and I talk about Jack says bring it back to the Sesame Street level? What the hell. Great show today Jill. Let's take a question posted by one of our members on successplans.com, our free online community.

Jill DeWit:

Okay. Carol wrote in and asked, "I'm having trouble understanding deeds. Is there a good resource out there? How do I get better at learning how to prepare a deed?"

Jack Butala:

That's a great question. Why don't we talk about the paperwork part of this enough member. Well, let's do it now.

Jill DeWit:

Okay.

Jack Butala:

How would you answer that, Jill? That falls under your hat. I can say this, it was a hangup that i had when I started and I got over it. It's way more simple than registering your car.

Jill DeWit:

Mm-hmm (affirmative). Well, my first thing is, Carol, get ahold of the last recorded deed which is the vesting deed.

Jack Butala:

Where do you get that, Jill?

Jill DeWit:

My first choice is get it from the seller, because they often are staring at it. They're have it, they should have it right there in their file that they're talking to you about and they have and they can take a picture of it, text it to you if they have to, scan it, email it.

Jack Butala:

This is Sesame Street level stuff, by the way.

Jill DeWit:

It's called the vesting deed, it's the last recorded deed, and you want to get a copy of that and that's easy because it's free and it's right there. You're talking to them on the phone anyway. If for some reason they don't have it and you want to double check it also, so you should be doing your homework, next thing I would do is you got two choices. You can either go to the county, and some counties are great you can see it right online and it's for free. Check the ownership. I shouldn't say that, at the counties you can check the ownership but you can't get a copy of the deed. With our data and what we use I can get a copy of the deed, and that's my go to place.

Jack Butala:

It's part of the data to do our step product that we have.

Jill DeWit:

Yeah. I can get a copy of the deed right there and download it for like $2.50 or something like that.

Jack Butala:

Then what?

Jill DeWit:

Now I've got the deed, so that tells me how I should prepare it. I can see grantor, I can see grantee, I can confirm that they own it. Now what I want to do is i want to copy and make a deed just like that.

Jack Butala:

Staring at a blank screen on the Microsoft word or whatever word processor you use you would just recreate the deed, that's the answer. Exactly word for word, spacing, the whole thing.

Jill DeWit:

You want to make sure, especially, the legal description word for word, we're talking in detail. It might be long, some are long some are short. I got a whole paragraph in there when they get into mineral rights not carrying over, and a rail road being involved, whatever it is. It's not scary, just copy it word for word. It's right. Just make sure, too, that you copy the grantee is now the grantor because they're now selling it to you. Make sure you copy that exactly also and then when it comes time to the grantee now that's you.

Jack Butala:

Yeah. Here's a couple tips too. A lot of people get hung up on this and I pay close attention to it because even seasoned real estate people get hung up on it because usually the title agents doing it. For some reason people are concerned about the form and whe...