How to Avoid Deed Scams in Minnesota

Our Minnesota Attorney General has published a warning to all buyers and sellers of homes to beware house deed scams. These deed scams aren’t just affecting Minnesota or the Twin Cities area, but have affected people across the country.

These swindlers are tricking buyers and sellers by sending letters posing as a government authority and recommending that they send money to obtain an official, certified copy of their deed. People who are falling for these house deed scams are sending money, but receiving nothing in return.

Some instances where you may need or want a copy of your property deed may include buying or selling your home, refinancing, or transferring title. If you are ever asked for a copy of your deed, ask if they need just a copy or a certified copy. This can save you a little money if just a copy is needed.

If you need a copy of your deed, you can contact the county that the property is in to request it. Typically, if you just need a copy, it is about $1 per page. If you need a certified copy, the price can go up to about $10. Also, you may be able to obtain a copy of your deed from the title company that handled your purchase.

Sadly, scammers are constantly reinventing new ways to con people out of money or personal information.  It is affecting the Real Estate Industry more often.  The best thing to do is educate yourself.  The Minnesota Attorney General’s website is a great resource to read up on “How to Spot a Scam” and common scams that are out there.

If you would like to learn more about how to avoid house deed scams, contact Watermark Title. We’d love to help answer any questions you might have.

Baby Boomers Accelerated Retirement Rate

The baby boomer generation makes up nearly 20% of the American population, ranging in ages from 53 to 71 in 2017.  Baby boomers are ‘retiring in droves’ according to a recent Bloomberg article.  In the fourth quarter of 2016, this generation had a marked increase in number of Americans 65+ that are no longer in the labor force.  It is suggested that this accelerated retirement rate affirms that this generation is beginning their exodus into retirement.  Some of the generation surely still looks forward to the golf and relaxation plan for their later years, while others are adjusting their work-life-retirement plans to include more meaningful work when nearing retirement age.  Also, a delay in starting to receiving social security benefits could result in larger benefits.

It should be noted that some baby boomers have acquired higher mortgage debt through the years due to circumstances.  A New York Times article, “They’re Growing Older. Their Mortgage Debt is Growing Deeper.”, touches on the issue that people with more mortgage debt tend to stay in the workforce longer than they may have originally planned.  This also increases the possibility of more real estate inventory changeover in the coming years.

Greater Minneapolis/St. Paul Promotional Video

The organization called ‘Greater MSP’ has put together this great, promotional video of the accomplishments of our Minneapolis + St. Paul, 16-county, metropolitan-area. The goal of Greater MSP is to improve business, economic, living and recreation conditions for the greater MSP area. There are some surprising (golf, for starters) statistics stated in this video.

For being located right in the middle of flyover country, the Twin Cities are a veritable powerhouse in terms of per capita, or simple, outright comparison.

This message can be appreciated by any person who is a part of, or anybody thinking of becoming a part of our area.

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