Extend Required Field Affidavit For Free

good morning everybody Frank great with Abbie Realty back with our latest agent tutorial this morning we're gonna be taking a look at the t47 residential real property affidavit before we get into what to put in the blanks on this form let me share with you its general purpose and the big idea behind it the t47 affidavit is used whenever a seller is providing an existing survey typically from when they purchased the property several years earlier they're presenting that to the title company which is going to issue a title insurance policy basically defending the new owners right to that property and guaranteeing its area and boundaries in order to do that the title company wants to be assured that they're working from a valid survey one way to get a valid survey is simply to have a new survey done but that's going to come at the cost of several hundred dollars in expense typically to the seller but sometimes to the buyer as the representative the agent the fiduciary of the seller it's your responsibility to reduce costs whenever possible so if you can provide an existing survey with an affidavit of t47 which is the sellers affirmation that they've done nothing to invalidate that survey then you're going to be doing a great service for the sellers and saving them several hundred dollars that's the big idea behind the t47 so we want to provide this to the title company whenever possible okay let's run through the blanks the date is the date that the seller or whoever is making the affirmations in this affidavit completes the form GF number is a title company field it does not need to be completed by you or the seller the name of the offense that would be the seller or whoever is completing this form as you'll see in a moment in certain cases it's not the seller but it is their personal name the address of the offend is wherever that seller currently lives what they've already moved they put their current address the next line description of property is where you put the property address that this t47 is referencing and although it's not clear from that that description there I would put both the physical address and the legal description the county in which the property resides and then let's get into the text title company as used in herein is the title insurance company whose policy of title insurance is issued in reliance upon the statements contained herein that just supports what I shared with you is the big idea the title company wants to know if this provided survey is legit and this affidavit is a huge part of their due diligence it is notarized and that's what an affidavit refers to it is a sworn statement before a court or judge or in this case before a notary and now there are six paragraphs that the seller or the Athea is affirming let's run through them number one we're the owners of the property or state other basis for knowledge of the property so for example this could be completed by a neighbor if this is in a state it could be...