Dollar amount on Deed is $10
I recently acquired my second property. One of the papers I had to sign at the escrow office was the Statutory Warranty Deed. It states:
"THE GRANTORS Joe Jones Jr. and Janet Jane Jones, husband and wife for and in consideration of TEN DOLLARS AND OTHER GOOD AND VALUABLE CONSIDERATION in hand paid, conveys and warrants to Charles David an unmarried individual the following described real estate, situated in the County of King, State of Washington."
I had questioned the escrow closing agent about the amount that was entered on the Deed $10 and they told me it was the filing fee.
It seemed to me that this should have been the sales price $150,000.
My question: Is this correct? If not, why would they change this amount to $10 and not state the sales price?
My real estate agent was not present at the signing he was traveling out of state. So I asked him about this matter a few days later and he said he would check into it. When he got back to me the next day he said this was in fact not the amount for the filing fee and that it was correct and that is a standard statement escrow companies use on deeds and I didn't have any thing to worry about.
Thank you.