Deed Types, House Prices and Mortgage Interest Rates
研究发现房屋销售时附带的契约类型与售价显著相关，十种契约类型有折价，一种有溢价；法警契约和止赎契约的抵押贷款利率低于担保契约，表明买家更精明。
When houses are sold they come with a deed attached that spells out the legal guarantees on good title. Some deeds give clues about the characteristics of the seller or the house. Using a 37,043‐observation house price hedonic with a Bayesian spatial error model, we find the type of deed attached to a housing sale can have a dramatic correlation with the sale price. Ten deed types command a discount, and one commands a premium relative to warranty deeds. Mortgage rates for sheriff's deeds and foreclosure deeds are lower than for warranty deeds, indicating more sophisticated buyers.