Welcome to February 2022! January seemed to fly by.
Last week the office was busy recording the 1,784 documents that came across our desks. Of those, 466 documents were loans with a grand total of $114,357,574. Surprisingly, only eight of those loans were for amounts over $1 million. The largest of the loans was funded by Truist Bank for $6 million dollars. The others were:
Property sales made up 226 of the documents last week. The grand total for all the properties sold was $66,707,351. There were only five property sales over $1 million last week and of those only two were commercial properties.
Nick McBride
The most expensive piece of property to sell is located on the corner of White Avenue and 17th Street, right between the University Towers condominiums and the Standard at Knoxville Apartments. Currently serving as a public parking lot, this valuable property is now owned by Villa UTK LLC who purchased it for $2.05 million.
The other commercial property that sold for more than $1 million was 2635 Western Avenue. Located behind the Dollar General store, the buildings were sold by Schaad Companies LLC to BIR Investments LLC for $1.1 million.
Most of the documents that were recorded in January were releases. These are sent to us by the bank or holder of a lien once it has been paid in full. After they are recorded, we send them back to the bank or holder of the note.
Banks do not always send the recorded copy to the people who have paid off their loan, but you can get a copy of the release, the deed, or any other document pertaining to your property by calling our office. The Records Department has the information you need and can be reached at 865-215-2329.
Here are our year-to-date comparisons for the last three years. You can see that our numbers are lower this January than they were in 2021, but the value in both loans and property transfers has gone up.
Have you ever seen our website? Just go here. There is a great deal of information available regarding recording statistics, current fees, the forms that we offer, and information about our department. You can even order a copy of a deed.
Last week I was honored to be the presenter at the downtown Kiwanis Club luncheon. What a great group of people! So don’t forget, I am available to speak at your club or group meetings, and I don’t need a lot of preparation time. Give me a call at the office to set up a date at 865-215-2330
I hope you have had a chance to look at our Facebook page here. Give us a like and share our page. Have a great week!
Nick McBride is register of deeds for Knox County.