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Updated almost 4 years ago,
Agent Terminology Question
Hey All,
I have recently begun coming across some terminology that I don't understand when looking for deals on-market. Since this is something I typically do not do I just want to make sure I am understanding this right.
The posting reads as: "We are not listing the property for sale, we are listing our interest in the property. Full ownership will be conveyed to the buyer at closing."
I am reading this as an agent owns the property, but upon purchase deed/title would be passed to the new owners after title clears? However could this also mean there's a cloud on the title? I am still relatively new so I'm sorry if this is a stupid question.
Thanks in advance to anyone who can help me decipher this terminology. lol