How to Read Real Estate Records

Keep a real estate glossary handy when reviewing real estate records.
Reading real estate records without a knowledge of the terminology is challenging. Records are prepared differently and the terms used are not all the same in every state, which can be confusing. You can learn to read real estate records with the help of a glossary, much like a person visiting a foreign country refers to a translation book.


Instructions

• Get a real estate glossary book. You can find one at a book store or download the Real Estate Marketplace Glossary by the Federal Trade Commission on the Internet. The glossary gives 17 pages of definitions for terms found in real estate records.

• View a legal website such as the Washington State Bar Association and review its real estate publication concerning documents used in real estate transactions. It gives a full description of real estate documents, such as listing agreements, purchase and sale agreements, disclosure documents, security documents and financial records.

• Visit the Register of Deeds Office in your county and review the deeds, mortgages and liens. Index books consist of recordings made in a year. The index book gives the book number and page number of a particular document. You can make copies of these documents and examine them at your leisure.

• Take a trip to the library and compare records you have to a book on real estate documents. Follow the format of the documents and get a feel for the structure of the record. You will find that many records have the same terminology and same sections that cover pertinent legal declarations.

• Take the real estate record to an attorney for clarification. If you are in the process of buying a property or obtaining a mortgage, you have the right to an attorney review.

• Obtain several rental agreements, which are confusing because not all landlords use the same documents. Check the rental agreement terminology against a glossary. Understand the clauses that govern the security deposit, termination of lease, eviction, late fees and property damage.

• Educate yourself on a standard format for most real estate records. You can find blank documents through legal supply stores, bookstores and in some cases, real estate agencies and county offices. Documents vary by state. Learning a standard format will enable you to read most real estate records with ease.

Tips & Warnings

• Refer to a real estate glossary.
• Do not sign a blank document.
• Do not sign a document you do not understand.

source : Vickie Van Antwerp