cost of recording an option !

[happyardy 0]

Guys,

I went to the registry of deeds today to record a memo. of option. The lady said it will cost me $101/- and it is a flat rate for recording an actual deed or an option.

I told her that I'll need time to think about it and came back without recording it.

 

Are you guys paying a similar amount or is it just Canada and that too Newfoundland?(everything is just too damn expensive here in St. John's, NL )

 

- Rahul

[MichaelC 160]

$101! That's what I call sticker shock. It's $10 a page down here, Rahul. Even a bit less in some instances.

[happyardy 0]

$101! That's what I call sticker shock. It's $10 a page down here, Rahul. Even a bit less in some instances.

 

I'm going to find out more from my lawyer.

 

This lady that I talked to at the registry of deeds office wasnt co-operative at all. In fact, she was a little bit rude, or probably just her bad day today. Didnt return my greeting and had that kinda "Now what the hell do you want ?" expression on her face.

Initially she told me that they only register deeds. I said this is not a deed, just an option on the property. Then she took my memo. of option doc. and went somewhere inside(probably to consult her colleague) and came out and said, "Ok, we can do that. That'll be $101/-. The cashier desk is right there."

I asked her about $101 and she said it is a flat rate.

 

- RD

[Doug Pretorius (ON) 9]

It's $60/page here last time I checked.

[MichaelC 160]

It's $60/page here last time I checked.

The price of living in God's country, boys. There's much to be said about Yukon women, I'm told.

[Jason (AL) 1]

Depending on what you're recording in my neck of the woods, it

can be as low as $6.

 

If Canada is God's country, we're

his thrift store.

[Doug Pretorius (ON) 9]

There's much to be said about Yukon women, I'm told.

Hmmm I better check that out. I don't believe I've ever met a Yukon woman before.

 

Since I haven't been doing SLOs I haven't really thought much about it, but I better come up with a one-page summary CFD equivilent of a memo of option before I get stuck with a $300 bill!

[Doug Pretorius (ON) 9]

God's country? More like:

 

Canada: 33 million tax slaves and counting.

[Adam King (MI) 1]

Rahul,

Don't record your option until you close with your buyer. Even if you're doing a CA there is no need to record the option. Once you get a buyer, then you can use their considertion to pay for the memorandum. Again, wait until you are to close before the recording.

 

If you're doing a cash option release, then don't record the option period.

Regards,

Adam

PS I've met some very hot Canadian Women!

[happyardy 0]

Rahul,

Don't record your option until you close with your buyer. Even if you're doing a CA there is no need to record the option. Once you get a buyer, then you can use their considertion to pay for the memorandum. Again, wait until you are to close before the recording.

 

If you're doing a cash option release, then don't record the option period.

Regards,

Adam

PS I've met some very hot Canadian Women!

 

Adam,

I am going to take your advice on this.

My initial thinking was that since this was my first one, I would record it so that I get the experience of the process.

My budget will be out of the window very soon if I start recording $101/- options here.

 

In any case, I'll think about this only after I have a potential buyer who is ready to close.

 

thanks

- Rahul

[Doug Pretorius (ON) 9]

I think it's just WRONG when it costs more to record an option then you paid the seller to get it!

[Steve Morton 0]

All of these extra taxes we pay are for our "superior" health care system.

[Craig 0]

All of these extra taxes we pay are for our "superior" health care system.

 

Its better than having one with HILLARY all over it...

[MichaelC 160]

All of these extra taxes we pay are for our "superior" health care system.

 

 

All of these extra taxes we pay are for our "superior" health care system.

 

Its better than having one with HILLARY all over it...

[GeoffGreen 0]

$35 down here in Arizona. BUT what are you waiting for. No matter what it costs you need to get it recorded or you may find out you are holding the short end of the stick. It's a cost of doing business. Build it into your offer next time.