Title Insurance and Why You Need It

Your Real Estate Today
Saturday, February 17th

Josh Costner and Nick Bolling of The Costner Law Firm join Paul to talk about Title Insurance.


Transcript - Not for consumer use. Robot overlords only. Will not be accurate.

And advice provided on the following program. Individual basis listeners should not consider today's discussion has a recommendation for any investment and she carefully evaluate before investing. You should. Hello and welcome to the show your realistic today it's hall Jamieson your host Jamison realty with Keller Williams Jamison property management. We are here today pre recorded unfortunately. But happy to be with you on this Saturday so thankful that your witness today I'm here with my good friend Josh Costner with the Custer law firm. Hey Josh welcome back NATO and I'm doing well I'm doing well so it's well it's Tuesday. But yeah actually acting like it's Saturday that's right now is Anderson if you we just don't indicate a Saturday on Tuesday and also. Neutered at a studio but also with that cost her law firm that polling how are you neck doing pretty good about cell door and good welcome welcome epic have done a couple closings would you haven't just been more than a handful I'd say. I'd say our. In the guy's got hair to that really bothers him that if it doesn't come to follow data DJ is laugher into every year that guy's got more hair than. So young guys and tell them. Well we're just getting over that as an old man I don't have here not much you Eudora and Internet on the donates it works I'd like you've come over my years earlier this morning. All right so guys we've got a lot to talk about today we're gonna talk a little bit about title insurance. There are some fresh. Lessons to be learned there that Josh or nick are gonna share with you about and why haven't. Talk a little bit to about repairs. Nick had mentioned that earlier get repairs done then and things handled before the closing table. That's always something you don't wanna have surprises over. And then a little bit about past and some checks but. Before we do that how about a little fun. I'm a little fun facts are two guys ready and that TJ if you hollered loud enough you can probably participate too if the White House was appraised today. What what is that you'd be yeah. 5050. Million yet not nick 46. I go to historical visor and the billions maybe two billion. Two billion they're probably enough hot air to make it worth two billion that's been and there are certain but 410. Million dollars. Hotter ten million dollars as they must not die the bunkers underneath there that's right that's. You know basement square footage is always right to left center right conservative better right. Let's see. Do you happen to know. The most amount of money ever left to adult. I. Never lift to a bill. People love their dogs on Wednesday ten million that's a pretty good guess that that's a pretty good guess when real estate mogul Leona Hemsley. Passed away in 2007. She left twelve million to her dog trouble. In her will. I don't like excellent that's a lot of I wouldn't answer I don't know it if someone asks us to do that well. And they said those words if if if I could look at look at of street that it you know I would just throw it I'd be I'd wanna see who's next in line. Yeah and I'd be a one want to take care that Nokia yeah exactly. Our. Do you know there are five times as many vacant houses in the US as there are homeless people. Well that's insane. Pretty interest in him that is and so are. OK so has the that the in the midst of the Great Recession of 2009. 2009. Saw more foreclosures. Then marriages in the United States. Saint yeah. I'm gonna say I was thinking it would be some kind of statistic about divorces or something compared to that you know most of us. But hey if it didn't do that I can divorcing your house had been. Back in the 1930s. Gangster. Charles pretty boy Floyd robbed a lot of banks but. He was seen by here as a hero by the common people since he would collect mortgage documents. And destroy them every time he robbed a bank. Freeing hundreds of people from their home loan debts. In modern day Robin Hood that's what onsite and what I'm saying. Too bad it's all in the cloud now. Pretend that the fifth with a real estate agents. Our. The second highest percentage of homeowners in the in the United States they have 84 point 9% homeownership followed by postal workers who had 84% homeownership. Firefighters. 83 point 6% and police officers eighty point 1%. Well who's number one I don't know but how it is for farmers and ranchers ninety point four makes and say. Out of a grand jury got to have a ranch right you can't exactly I'm sorry I gonna go to buy renal dialysis and heard my Cal's. You know you gotta have. If we are ready we need more of that ball hit each week we need people were. The hunt that voice you know we don't know when you're presented no yeah that was really poor and that. If you are Scottish. And you've paid off your mortgage. Do you know what you do. Streak. Besides that ethnic. And he'll burn you hate your front door bright red as is the custom letting others know that your mortgage. Stanford. So if you wanna read door. Before you paid well already door has other meanings and other parts of the country united Scotland it VG paid a reason Philadelphia outside the interest yeah. What do you don't like red. And scanner used licorice I'd just say yeah I'll go get another mortgage can't yeah. That was for DJ actually I salute you translate the hearing. Warren Buffett. May be one of the richest man in the world with a vast fortune due to his part to real estate investments. But the oracle Obama are still lives in the same house he bought with his wife for how much in 1958. 171000. Dollars. 31500. Dollars. Pretty amazing he would think Dave Ramsey would like that. Okay. I think have seen Dave Ramsey's house you know I don't think you gotta for 31000. Is Alice hold. It was it really is also when we were in our national office went on. Yeah I met him here nice guy. Nice guy so he came gave a talk when was that due to a couple of years ago. As pretty cool yeah. McDonald's the most famous restaurant chain in the world does not make its fortunes selling burgers. Let's selling realistic yet to franchisees for their fast food locations in fact. McDonald's is the largest commercial landowner in the world. About that for supporting facts and to know that on. OK show. Here's one. When apple computers wanted to build a new facility in North Carolina they bought a single acre of land in the path of the projects. Build for one. Point seven million dollars from an elderly couple. They're profit. What do you think they paid for that 34 years earlier. This is up in maiden yes. Thousand books. 6000 dollars vicinity could happen I sound investment there are what are they did at 1030 while expansion that know attacks three stooge. I don't know talent. Well there's a little bit of fun facts for you. So it's 48 team we expect. A lot of good things we expect home prices decline but not as fast as they didn't Tony seventeen I think we see that the mortgage rates the way they are. Are going to some. Slow down that price increases towards the second half the year I mean do you. Not here kind of those same things from your industry yes that's what we hear we hear who understand and expect these rays to. To climb not drastically everything but I it to around for visuals they will start to go up. Will stay we have been hearing that for about 45 hitters and al-Qaeda but at some point is gonna happen right here. And and I think now with the economy. You seem to. Was seems to be stronger this woman gonna make rates go loves. Well the last piece of small trivia associate with that you could be the wealthiest man in India. He built a billion dollar personal residence complete with 27 floors and six levels. Just for parking to accommodate his 168. Cars. Self. Julio patterns set up behind the threat that certain I got one under 67 ago no threat. Why at what your awareness on the show your real estate today I've got nick Boeing I've got. Josh Costner the costs or law firm I'm Paul Jamison this is a sugar illustrate to stay with us we'll be right back. We are so glad you're well this welcome and if you're just now tuning in that this is the show your real estate today. Hello hello I'm hall Jamieson your host. Jamison realty with Keller Williams Jamison property management here with Josh Costner and that polling from the costs or law firm. Boy are we ready to talk about some stuff we've done the fun facts. Now it's time let's get down of the meat and what do you guys sounds swell shall not respond because the fund and I know it's I got a few more. We actually do a daily basis but it. If that's OK okay so. One of the important things I wanted to cover because this is a fresh. Topic for me do. To the this I hate to say do the fact let's just say it comma comma. We have. An issue that had come up around. The title. It happens from time to time can you kind of explain the process what happens when you buy a home and we turned the transaction ever do you and we say hey guys. Let's get a title search on this thing what what actually happens what are title search. Church says title searches when we go to the public records we reviewed the public records for a certain amount of time. It is. Common practice in North Carolina to. Tax to a previous title policy. Absolutely options are for your title search period or you find out previous title policies he surged back to the date of that policy. Come in a lot of large neighborhoods. Title companies what have you searched back to the time the developer. Both land. And in for a just a normal property that maybe it's not in you know planned subdivision. Com and Google funded title policies search back minimum thirty years. So so in a title searcher looking for lean to looking for. Mortgages or abuse of trust senator North Carolina you're committed taxes unpaid taxes other judgment leaves that may have been. Place against the individual then attach the proper looking for easements things of that nature. And and then once you do your research. An attorney reviews it. So north and south on both attorneys states we have an attorney does that pass to review that that title work. Sign all fauna and opinions and Rudolph to the title insurance company. They provide title insurance commitment. And basically they say it. This is what we believe title to be yes. You find otherwise your title insurance will cover you. In most cases for Freddie claims that someone makes against the title to your proper. Why would somebody guys why would somebody have a client what what what day. Common claim being what would an example of a plane and be sure. Claim that. And give you example of so it was clear that some had an easy claim it is it is you missed a deed of trust. There's a little blown an old loan and you miss one that was out there. Maybe a big one may be a small one non. And but. You've bought the property and then you get a letter in the mail from a lender that says. I'm Hayward and foreclosed property because. Nobody's to pay Marleau. Well that he that was likely on record. And this guy missed then again. Attorneys make mistakes and yeah that's the title searchers for real turning against us but realtors never made mistakes at the top of and if you believe and a half and and so you know they get asked where you want the title incher and says that you can make being called the title insurance company. Say hey I got this issue going on and and they will step in and handle the issue for you just as sure. If your car insurance if your car wreck you call your insurance company make a claim in if there's a lawsuit that comes of it you're not really. In that lawsuit to tie the insurance companies going the same in title insurance. There insurance companies so fifth. If this Linder says. It's clear that the lender content publishers companies can pay them off. And that will be able to cover you in that manner and reclaim coloring your toasters coverage for as long Jew on the property. And that's a one price. Deal right so you pay want to pay wants okay what's there is there's. What's called enhanced title policy that's a little bit more expensive. And it gives a little extra coverage one of the things it does it will we will. Non. It would increase in value a little bit for use of people for homes an increase in value than. That policy will cover up to a certain amount. You know over time. It'll cut its commute takes into account inflation verses a regular standard title policy at. Obama house for 200000 dollars my title policies with 2000 dollars. That would be the Max I could claim on title. When you talk about that the exam which talk about it with the loan. Very rarely is going to be for the full purchase price whose issues are going to be for whatever loan amount that was again might be. The 2000 might be hundred might be under 20021000. Properly ever. It's a total loss type of claim it is. Somebody comes in and says hey I'm the actual owner of this property. At some point in in a lot of times a schism this might not even be the fault of anybody who transaction. Couldn't fraudulent indeed signed at some point that could have been a missing air that was never tracked down or something. Along those lines and now somebody come says this is actually property I own not that. I'm owed money because of property but hey I own this property. Right and in news that the title company faces a total loss in and that's the best the situation where hey. If in fact it is their property. Then sorry you're out of luck we will pay you at 200000 dollars. For a total loss to view the home buyer to a defiant house. And in the same situation those are gonna come along with the lawsuit. To get that sorted out but the time conference companies can also pay for that lawsuit and hopefully they concede concede in the property. But you know so it can be addicting of that that huge to something of hey there resist hidden a few years back we had a situation where there was a tax bill moved in Union County. And the builder had. There had deferment program and when you pull the taxes on line. It doesn't Shalala. And so that the African company that we use. They call the tax office. And of course to see what was going wrong could indeed when you called the tax office they said you can check taxes on line. But if you check taxes on line this deferment didn't show up. So they said oh well this is a special case but if you were resist calls there was no tax on his property. Though she said you alive so they raise of about 6000 dollars. And that's the situation where. Hey it's not really the attorney's fault of the titles are truthful. Title assurance could tougher to kick in and help pay for that exists thousand dollars because. Venus is you know. This one of those things kind of hidden and there are hidden title defects that there was not really nobody's fault the dismissed. So those are the kinds of the various times with talent for. Gonna come up. So so neck confusion and closing. And someone's paying cash for house. And they look at you and under this title insurers saying you know necessary or dollars. Why why don't I need this or I'm what is this for. What do you tell. I'll tell exactly can only justice that title insurance is out there to protect your interest in the property regardless of whether you pay cash for or you mortgage that property. In the more recent area these lenders taking a mandatory title Powell senior just getting called simultaneous issue getting a policy just like they are. But in the event that you don't have editors title insurance in the that you had a full failure of title you don't wanna be out of pocket that entire. My money whereas if you paid that one Tom Allen charge premium you're covered for as long as you own it. So that 7800 dollars for your cast purges of a state to 300000 dollars is more than enough for its way to gold and actually protecting you. Think people get homeowners insurance all the time open it house never burns now. Yeah you know it's interesting because and in all my years there was only one time someone insisted. That they were not gonna get title picture. And I made them. Basically give it back to me and writing that says we understand we have the option against title insurance and we are opting not to again it. There's there's what would it make you saw a very long form yesterday are you excited about Andre and I don't know why you wouldn't get it and we you know. It's one of those things that you know you could you could say why many doctors you do Michael C you will pay by tons of them happens I might be dead. You know tab might not be Iraq. The stylish shirts and runners going to be here that should go to the money from the we might not be yours and you might want to make sure that you covered was actually does come up well. How tea after the break I've got a big question for you a lot of people don't talk about the fact that when your bid none of foreclosure. You might wanna talk to an attorney about the title so after the break let's talk about that. And title insurance or title searches and how that can affect. You've been on a foreclosure so we'll be right back here on 11109893. WBT. The show your real estate today stay with us. Hello we are back welcome happy Saturday. This is show you that was that today we're pre recorded unfortunately so if you call. We're sorry the number your dog hasn't connected. But we will be next week. We'll be back toward normal time although lately I just have to say. Normal has gotten weird week for years it was 2 o'clock every Saturday 2 o'clock 2 o'clock 2 o'clock he could set your watch by it. And there's basketball games football games they move us around like I don't know anyway we're back to normal colonials. Yes I can. Yeah man US are so. I'm back to it the following Saturday about this Saturday we're. I don't know for 2 o'clock in the senate I think we are yeah I think your skills don't play at 815 Sarah should be sour normal of conflicting. All right so. Here with Josh terrorist or nick bowling with custom offer my apology missing your host if you just popping on we're talking about title searches title insurance. And a lot of their there's been a lot of misunderstanding. Around. Foreclosures Lotta people. Have an interest or they've gone to a seminar in the U wanna go down of the courthouse plaza in our property here and help it. Yahoo! I go back to the Carlton sheets days. And I still got the stuff I think somewhere in a box via. It didn't work anymore. But a lot of folks teach you don't buy foreclosures north and South Carolina. Little bit different. North Carolina you've got that can they upset bid period. South Carolina. You go you buy. So. One of the things we wanna think about and talk about is. Why. In the world would you do a title search. Before you buy a foreclosure doesn't that come with a clear title. No absolutely not I knew the answer but I figured I'd been it's basically coming as it is on do you want to do a title search he has let's say that the -- more is being foreclosed on his home equity on summit just forgot to pay the second. So the second is for closing and you see it at the courthouse though this is a great deal they're only asking 50000 dollars this property worth 300. I'm gonna get. If you don't do a title search you may not know that you're buying their property subject to that first mortgage that's worth the 200000 I thought you think you've got this 300000 dollar house that 50000 dollar price tag and here comes number one call bank America and their owed 250000 dollars. Now at that point guys can day. Collect all their back interest all their fees all their everything else from you and topple the principle yes. They're gonna that's that's what they're going to put it because they will just. It might give you the option to buy it from them or paid them off. And it would include all of that interest that never got paid in all the late news or they're gonna put it up for auction for that amount. And and injured and it dropped yet considered. Vineyard new outlook. It's. We've we've had clients in the past and some have got lucky because. They just. They were told that they will buy foreclosure wipes everything out pro. On and then they also don't get title in church when they when they get the foreclosures because they felt like the whole it's cleaners like fresh. They'll. And that's another when the misconceptions. If Seattle in a piece of property yes and I get a judgment for. 101000 dollars placed against me in Texas tomorrow proper yeah. All right sales Selma property I don't pay their judgment often maybe that attorney this is it right. And then. In and the next buyer. Maybe they don't pay their bills so that you foreclosed on with a personal vases that foreclosure. Not 101000 dollar judgment is still on the property. Because that foreclosure doesn't wipe it out because it came before that loan was put on record so. There's all types of things that could be out there. It's you have to be careful before you go all in on buying a foreclosure. And we also know that it's. You know we've done quite a bit of foreclosure searches for people fassel wouldn't it kind of chime in on this. Because we also know you don't always have a lot of time it takes some time his search was done yes it was a solid Mick explained how. At least in North Carolina and an auction surge would work. Yes so nick I wanna go to recording us now I want to go to the sale and we get notification what thirty days ahead of time what's going to be there half the stuff falls off half. Half the stuff stays so I've identified. Five properties I wanna bit on what and I call you what I what does that look like. In and out deal or would you call me you'd give me those five properties I would do about the column auction search. As I searched priority meaning you give me that file number I go check those court else files and see who was for closing and what they're for closing on. So then under a quick search of that title to see it that persons and first position second position of whether or not their property taxes that are outstanding that will survive the foreclosure proceeding. And whether or not their judgments are out there to keep you make condom bottom dollar answer own OK look your bid may be next. But along with that big if you won't clean title you're gonna have to pay those property tax bills off you're gonna have to pay this additional judgment. And that way I can give that to you backed tee relatively quick. I don't have to outsource that to actually have tractor which I may not give that full search back in time before that bid for the ten day upset because final. So. And and in that he says if you had thirty days would probably advise and get a full searched on that's gonna cost you more money. On onus on the property you may or may not actually purchase. But a full search. We'll tell you pay as early stuff that was prior to this mortgage that make it foreclosed on the could be an issue. A lot of times what we did as people call and us 23 days before that auction and that's we have to say okay we can give you a brief rundown. And so then you can make the decision without you wanna put that bid down in and that money up front. You can back out of a foreclosure closing just like any other closing so then we'll run a full search. And that's win before the actual closing takes place we find out if they're anything physically prior to. That more years ago foreclosed on. Yeah you lose what the 5% that you lose that 5% you wouldn't really get that back and so again if you do have you know a month at a time then we can. The two and a much better position to make a decision of hey am I going to go one of people put this 5% to. They're practically. It would be great. Realistically what ends up happening. Is that that between the thirty days in about the week before. The auction. All of those properties start dropping off for various reasons yet extension. If someone is satisfied some then. You know they've done a deed in lieu. Yeah you know all kinds of things can can change. That. That siren a lot of people don't wanna spend. 250 dollars in title search. For some of the by the time kissed auction and I'd be available today that's her so a lot of times it is we are given that short period of time. To say hey please search this property for me. We need to know what we can dote in this two day period. And yet we can't really can usually a full serve to tell you everything in that short minutes but we can only say it for this particular when getting foreclosed on. Here's you know it you most importantly your system. Firstly misconduct foreclose. Billion elements taxes taxes don't get wiped out probably Texas of this person has been part of Texas in two years. Even though goes to whoever bows the proper is gonna road as they don't get wiped out by the foreclosure. A so so. Is that state by state thing. For example property taxes like in Tennessee. Is it the same way in Tennessee it's it can be different and every state that's what I was thinking. We in Georgia all the license here in North Carolina so we can't really say. Yet at other states but it is different in every state that this is different process in every state as to how the foreclosure takes place. Again as you said battery has that could upset bid period. And so it is different in every state. Yeah you know it and that's what I think is is centrist thing is that if you get on the Internet you see. Different states different services is selling for closure and pre foreclosure. Properties. Let's be clear. If it looks like conduct. Sounds like a duck. Acts like a duck. Just probably a duck I think I told you I knocked on the door for pre foreclosure what time off what has web sites I've paid for Sarah sell from a disguise to cork quickly scan machine gun. After he was our only laid on one payment and they put this guy and his pre foreclosure thing he bout ran me off so I don't do. It's just like it could decision. He ducked the hard after the break we're gonna talk about repairs. And who knows we might throw in a couple more fun facts you're listening to the show your real estate today with Josh content Custer nick bowling. And myself Paul Jamison saw how well this 111099. Victory. WBT. Is that. He's not. Felt dance. I was thinking it was that long without woman runs this place really fast with a shoulder show an offer offer shirt again what has made. Maniac yeah I thought maniacs on are you trying to tell me some. I'm a real estate maniac who. The sure you're real estate today welcome to my. Probably done this group got really great guy doesn't greatest single guy calling let off for real statement in I would have gotten immunity so that your. The Sharia real estate today apple Jamison Jamison realty were Keller Williams Jamison property management here with just roster of the Custer law firm or when that Boeing. An associate at the Custer law firm as well we're here. Talking about real estate have a good time yes were pre recorded so you can't call us so sorry. If you do call the pick up the phone and go hum. He came here. I'll be here next with a pair. So a few more fun facts before we talk about repairs. Get a few more fun facts for Alaska holds two important distinctions in the US state. It's both the northern most state and the eastern most state. But that. Day. Speaking of Alaska. Many people don't realize that Japanese forces invaded a few remote Alaskan islands during World War II making it the only. Occupied US land during that war. I didn't know that. I didn't they tried to do so is Alaska further west in Hawaii. Some of the Aleutian balanced and I don't know. This is just what director. I got. Needed jealousy and has asked who did not win every young boy you know eastern posts yeah eastern rocket into Aleutian Islands though there editorial at least humans I don't know I was notified until and if you're looking at a from the Batman. Yet. It is accurate throw mere area yeah you'll say western division isn't our reading a map right there yeah. Yeah okay don't call me about that please and yes call it again Saturday on to a day work go to a race that's. And we're gonna start over all the stuff I don't know man cannot. I think that's okay. OK so that's a lot of credibility to buy other fun facts pat I okay. In order to preserve the natural. Scenic beauty of the states are Vermont Hawaii Alaska and Maine have laws that banned all outdoor roadside billboards. So there's no billboards in the states. I don't know about that he. Throughout. Not but it just revenues in there are others look at our Google+ a look at Google Maps. I'll just ride along. We don't do that okay. Yeah I'm starting to lose all faith in these fun fact the average US home built. Last year is nearly 2600 square feet. And we even consider older 15100 square foot home small. But in most developing countries I do believe this a common home may only be 75 square feet basically one. I do believe that yeah I've seen that first. Yeah OK I want I'll take. Seven before but how flood insurance is a necessity around Lake Superior in fact the great leg hold so much water that. If it even emptied it could theoretically spill one foot of water across the entire United States. That it easily on it Nash geographic special on Great Lakes it's great. Yeah really deep yeah. Are efficient and just look at our fifth the true wonder why okay. Part one more. And then we're gonna quit this Tom Fuller. You've probably heard of people who specialize in bartering. Remember they used to have that show the bartering guys yeah. And maybe even seen the TV show or people try to trade up to get bigger and better possessions well one man started with a single red paper clip and traded his way up until he owned an entire house. I'd like to see that you know it probably took 500 years. Purity with a paper clip and then he traded that for a and for the Iraq retreated to before. We just found at the Euro bonds but he did yes Pryor when he did you know. She's it was a very thoughtful on her paper clip owner becomes homeowner. Now. Act makes sense. OK. Where were you finding these effects. I've found them on a fund real estate website and I'm not. You show you how much fun most of what's to come from an alum tainted. OK so anyway. Let's say that out loud it was not a thought bubble started and I was just kidding. Me love you Pat Riley it's all right. That's a friend pants and get some you're probably called me and then there are so. Let's talk about repairs. You know. From a real estate perspective and then I wanna hear about it from a closing table perspective but from a realistic perspective let me share this with. In negotiating people who really. Have to now there's two levels of negotiations that take place in almost every realistic contract. It's a one the first one is easy right how much am I gonna pack. What are the terms. And everybody does the high fives well you're halfway done. Because after the inspections and appraisals and everything moves forward there's one level or negotiation this to rest take place and that's around repairs. Getting the stuff fixed between buyer and seller and for those that listen to me on a regular basis you know. I am not for bringing in your handyman and fixing stuff I'm all about let's trade money. Let the buyer do it the way they wanna do it. Their own standard of workmanship the supplier they wanna use the person they wanna use the handyman they wanna use let them do it themselves give the money let him do. Yeah because there's nothing worse than the little phrase that says done innate workmanship like manner a little. Talk about an open book for negotiation what is workmanship like manner. Well. Guerrilla group. Could be workmanship like manner to some via duct tape could be workmanship like mannered some. And it's terrible if I do it ten workmanship like manner. Doesn't happen because I just break stuff worse and have to pay somebody to fix so let's get that out of the way we call who have rewarded yourself but yeah. Pace on about exit doesn't then but. Nick you made a point and Josh we were talking about this a little bit. All of this stuff has to be ready and done before you get to the closing date. Don't you agree how many times have you been to the closing table they've done their final walks through. And oh stuff is not done. More times and I care goodness com we'll get fueled a come and the closing in around on introduced myself and I get Neil. Can we talk. Forehand and can we put this into the firm and not that easy sends up red alarms and it's usually the first time. We is an attorney her ever made aware. That a repair has gone wrong or that to repair are supposed to be done in the first place or their stuff a ship that's a whole different sure that effect. We could all dale now on. It's a basically what it would needs to happen in these scenarios and you played it up perfectly is money into talking and if you can do that you gonna solve a lot of the are we need to delay closing or I'm here and you said you were supposed to fix the garage door opener and I can get an open. And they want a delay closing. Com most of these things can be fixed by just a conversation between both agents and in the buyer and the seller. Com you should not have to come to close seeing and throw a fit because something is fixed. If you just talk it out in the first place. Yeah now Josh let me ask you this question because this has come up a lot. So your answer is important so everybody get out your pen and pencil because we wanna hear what Josh is gonna say when I asked this question. The house disclosed. Them from the deal is recorded. Them in the house has changed hands. However. In the contract. There's a word or repair that we're supposed to be done. That was not done. What happens. To Hillary you are contractually bound to contract. So there's work that did not get completed. You need to get it done. Reality sets in them which is. You're bargaining chip as the fire which was I'm not gonna close on this how else to pay your money. Is now gone. So. So the chances. Of you getting this done. Who he went down in Taiwan he wanted time has just gone with the wind so is it fair to say though legally. The contracts supersedes the clothes yes. But. An overture bargaining chip is gone yet and I mean depending on size of an it guy trying to contract is is just a piece paper right. Art what we've got to wrap it up thanks guys reveal whether may nick Josh thanks for being here. Appreciate it enjoyed it now a sort of went by quick and I'm Paul Jamison give us a colleague for six dominate for 63663. They showed your real estate today where we live next week so we'll see you then take care god bless.