• Click Here to Subscribe to Email updates

  • psst … I’m a Realtor! Thanks for stopping by my website. I would love to help you find your dream home and community in the Hampton Roads or Williamsburg area or to sell your existing home. This website is authored by local resident and REALTOR, John Womeldorf. John is known around town as Mr. Williamsburg, for both his extensive knowledge of Hampton Roads and the historic triangle, and his expertise in the local real estate market. His websites, WilliamsburgsRealEstate.com and Mr Williamsburg.com were created as a resource for folks who are exploring a move to Williamsburg, VA , Hampton Roads VA and the surrounding areas of the Virginia Peninsula. On his website you can search homes for sale , foreclosures, 55+ active adult communities, condos and town homes , land and commercial property for sale in Williamsburg, Yorktown, New Kent, Poquoson, and Gloucester, VA as well as surrounding markets of Carrolton, Chesapeake,Gloucester, Hampton, Isle of Wight, Portsmouth Mathews, Newport News Norfolk, Poquoson, Smithfield, , Suffolk, Surry, Va Beach, Yorktown and York County Virginia You can reach John by email John@MrWilliamsburg.com or phone @ 757-254-813
  • RSS Colonial Williamsburg News

    • An error has occurred; the feed is probably down. Try again later.
  • Flickr Photos

  • Advertisements

A case for title insurance- What do you mean I don’t own my land anymore ?

In my job as a real estate agent I am always asked by clients why do we need title insurance ?

Guy Gugliotta Here is one instance where the buyer was very lucky to have bought it.

In spring 2013, the Virginia Beach real estate market was up, and Guy Gugliotta was thinking about selling.

For decades, the New York writer had owned two vacant lots on the seaside in Sandbridge – investment properties surrounded by vacation homes. With thoughts toward buying in another part of the country, he contacted Siebert Realty in Virginia Beach to talk about options.

The call seemed to surprise the agency, and the agents’ response surprised Gugliotta even more. He couldn’t sell the properties, they said, because he had already sold them. Didn’t he remember? The deal had closed the previous August.

Gugliotta was floored. He hadn’t sold his properties, so who did? And in the world of real estate, so full of documents, signatures and attorneys, how could someone do that?

Those questions have dogged Gugliotta through court proceedings in which he fought to reclaim his property and through calls to law enforcement agencies he hopes will catch the thief. The same questions have haunted the two buyers who thought they made above-board purchases and the agencies and banks who thought they were conducting a standard real estate transaction.

The truth bewildered them all. But the most startling discovery may be that while this exact crime is rare nationally and in Virginia Beach, some who work in real estate say it’s surprisingly easy to commit.

"It’s mind-blowing how vulnerable our system is," said Billy Joe McFarland, a Florida attorney who works in real estate law. He said he’s seen fraudsters fake deeds and pretend to be owners, but Gugliotta’s case seems to be the most brazen yet.

 

Read more here

Advertisements
%d bloggers like this: