PRACTICAL TIPS WARD & TAYLOR, LLC PRESENTS: FOR LISTING AGENTS!

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Presentation transcript:

PRACTICAL TIPS WARD & TAYLOR, LLC PRESENTS: FOR LISTING AGENTS!

BROUGHT TO YOU BY: Nancy Walsh Law, Esquire

INTRODUCTION AND OVERVIEW OF PROBLEM AREAS ASSOCIATED WITH LISTINGS…. What are we talking about? –Estates –Divorce, separated sellers –Short sales –Guardianships –POAs

DEALING WITH ESTATE SALES Who is your seller? Role of Executor, Administrator Who signs the contract? Who signs the deed? –executor/executrix must have DIRECTION to sell to sign deed or if it is Necessary to pay the debts of the estate –12 Del. C. §207(c)

DEALING WITH ESTATE SALES (CON’T) ESCROWS for open estates, claims periods –title company may require ALL funds to be escrowed Seller’s disclosure? Ch. 25, Title 6 §2577 (1)

ISSUES WITH SALES BETWEEN DIVORCED/SEPARATED SELLERS Does your client really own individually? –check the NCC website What if the ex-spouse is still on deed? Court orders

DIVORCED/SEPARATED SELLERS (CON’T) Are your clients divorced or separated? –does it matter? YES! –what judgments apply Document EVERYTHING Divorce attorneys? Property settlement? –Real estate attorney needs this info

HOW TO STREAMLINE SHORT SALES Listing a short sale HOA dues? Get a title search??? Is your client motivated? Who is negotiating the short sale? Will your client accept paying difference if asked?

TIPS FOR DEALING WITH GUARDIANSHIP SITUATIONS What is a guardianship? Need a specific order to sell from Court of Chancery Not a fast process!! Court ordered appraisal

UNDERSTANDING POWERS OF ATTORNEY Good idea to have an attorney review the POA Specific vs. General Is it valid in Delaware?

UNDERSTANDING POWERS OF ATTORNEY New guidelines for general POAs after October 1, 2010 Has it been revoked? Must have an original for closing to record deed and won’t get back right away

ANY QUESTIONS? CONCERNS? THOUGHTS? DO YOU HAVE….

CONTACT WARD & TAYLOR, LLC! Contact Information (Wilmington): (P) (F) Contact Information (Middletown): (P) (F) Contact Information (Dover): (P) (F) THANK YOU FOR COMING! CONTACT WARD & TAYLOR, LLC! Contact Information (Wilmington): (P) (F) Contact Information (Middletown): (P) (F) Contact Information (Dover): (P) (F)