Woman Buys House For $594,481 Then Learns She Accidentally Bought The Whole Neighborhood Of 84 Homes
Business
August 27, 2022Admin
Real estate and housing prices have increased over the past few years. Good deals (and by that, we mean cheap or affordable ones) are pretty difficult to come by. We all want to save a good amount of money to buy our own property.But what is more unheard of is getting lucky in scoring properties; that is getting something without spending a single penny.
Probably they have won it in the lottery or some raffle, and even that is rare.What makes this story extra rare is that one homebuyer who only intended to buy one property ended up having 86 different properties named to them! We got your attention now, didn’t we? This was how it actually happened.
One to eighty-six
A homebuyer, who remained anonymous, bought a new home in Sparks, Nevada. They purchased a $594,481 single-family home in the Toll Brothers subdivision.
SOURCE: PEXELS – OLEKSANDR PIDVALNYI
However, when the purchase records reached Washoe County Recorder’s Office and into the hands of the Washoe County Assessor, they were baffled by what they saw. They knew right away that there was something wrong.
A lot of lots
The records showed that the buyer bought 86 properties in total! This includes 84 house lots and two common spaces in Toll Brothers’ Stonebrook Development in Spanish Springs in Sparks, Nevada.
According to the Reno Gazette Journal, some of the properties the buyer purchased already had a home built on them, and some were already sold.
SOURCE: UNSPLASH – BRENO ASSIS
Usually, these discrepancies would get flagged by the assessor’s office. So they called the title company that handled the purchase to find out what happened.
A matter of copy-pasting
What really happened? It was a simple copy-paste error. Simple, but it could cost them a lot.
“It appears Westminster Title out of Las Vegas may have copied and pasted a legal description from another Toll Brothers transfer when preparing (the homebuyer’s) deed for recordation,” chief deputy assessor for Washoe County Cori Burke told Reno Gazette Journal.
According to Burke, this error often happens due to copy-and-paste mistakes by the title company. However, he added that this one was more interesting because of the number of lots involved.
A costly error
Correcting this error is pretty straightforward, but its ease would depend on the buyer’s cooperation. They simply had to transfer the ownership or title to the title company – in this case, Toll Brothers. Unless the buyer would make it difficult for them to take it back, this case could be solved in no time.
Burke also said that while a buyer may make it difficult for the title company, the files or documents during the sale of the property would be a good-enough proof of the title company’s intent to take the titles back.
SOURCE: PEXELS – SORA SHIMAZAKI
He said that the documents during the offer and purchase of the property could be definite proof. Taking things to court would only mean the buyer would instantly lose, and everything would be a waste of time and money. With that, they were sure that the buyer would transfer the title right away.
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