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| We have a motivated buyer who actually HAS the money to buy a piece of property we own. It is land only, no buildings. Does anyone here know the simplest/cheapest, yet still legal way to finish the transfer of ownership without going through a real estate agent? |
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 Accident Prone
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Location: 100 miles from Nowhere, AR | Both times we bought land, there was no agent involved, just a lawyer to draw up the contract. His fees weren't bad at all. |
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 Expert
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Location: Gainesville, TX | Three 4 Luck - 2015-04-14 12:37 PM
Both times we bought land, there was no agent involved, just a lawyer to draw up the contract. His fees weren't bad at all.
This. Use a lawyer, especially if its just a cash transaction. |
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 Extreme Veteran
Posts: 336
Location: Missouri | I agree with the above - have an attorney draw up the contract AND the warranty deed. Be sure to have title insurance (work out with the buyer who is paying) - this protects the buyer AND seller against future legal issues (easements, title clouds, etc). Do the closing either at your attorney's office or have the title company close it. |
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 A very grounded girl
Posts: 5052
Location: Moving soon..... | It's worth every penny to use a lawyer to draw up your paperwork. |
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 Expert
Posts: 2457
| Three 4 Luck - 2015-04-14 12:37 PM Both times we bought land, there was no agent involved, just a lawyer to draw up the contract. His fees weren't bad at all.
We're in the middle of this now - lawyer drew up contract, we all signed it, lawyer dropped it at the title company, closing is about to happen. boom, done. |
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| Thank you so much! I knew someone on here would have the answer and not direct me back to an agent if it wasn't necessary. Appreciate all the replies! |
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| You can do a one day property sale if buyer and seller are in agreement
by going to the court house and signing over the deed to the buyer.
Everyone needs to be honest in the deal with taxes paid and no liens
on the property.
Oklahoma Real Estate Commission has several contracts online that
allow you to type information into the forms and then print them off ...
CASH LAND CONTRACT .. another one day event ...>>
http://www.ok.gov/OREC/documents/Vacant%20Lot%20Land%201-2011.pdf
Once contract is completed and signed and notarized which can be done
at the court house .. transfer the deed and go home with the money in
your pocket ..
Real Estate Brokers and attorneys want everyone to think that buying
or selling a piece of property is complicated. Of course if a lender is
involved then they protect their rights with long drawn out slow moving
steps to make it look complicated again. The same 5 things happen
on lender requirements ... only the buyer and seller names changes .
.. yet .. they want you to think it is a mystery ... lol
You can make it simple or very involved when attorneys and title
companies get involved ..
Edited by BARRELHORSE USA 2015-04-14 1:28 PM
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  That's White "Man" to You
Posts: 5515
| Find a reputable title company. That is all you need. |
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Extreme Veteran
Posts: 336
Location: Missouri | Whiteboy - 2015-04-14 1:27 PM
Find a reputable title company. That is all you need.
Amen. I was a title/closing agent for years. In our state, the title company couldn't draw up a legal document (i.e. contract or deed). I've seen some "simple cash" deals get ugly LOL - doesn't cost much for a contract, deed, owner's policy - well worth it! |
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Location: Texas | Make sure there has been a RECENT survey done and keep that with all the documents the lawyer gives you. |
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That's White "Man" to You
Posts: 5515
| What state are you in?
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 Water Weight Barbie
Posts: 6829
Location: Oz, Kansas | dianea - 2015-04-14 12:42 PM Whiteboy - 2015-04-14 1:27 PM Find a reputable title company. That is all you need. Amen. I was a title/closing agent for years. In our state, the title company couldn't draw up a legal document (i.e. contract or deed ). I've seen some "simple cash" deals get ugly LOL - doesn't cost much for a contract, deed, owner's policy - well worth it!
We just closed on some land a few weeks ago & I paid a little extra for the title company to prepare the paperwork, under $1,000, and it's done. It was really easy for both parties & saved both of us a lot of money. |
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 Lived to tell about it and will never do it again
Posts: 5409
| Make sure to have a title search done! My mom is purchasing two lots in town, turns out the last two times it changed hands there wasn't a title search done so guess what PROBPLEMS. So glad mom requested the search, it is going to all turn out ok but had she not done the search it could of wrecked havok down the road. This way she is going to no that all is legal and she does own the property when finished.
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 Toastest with the Mostest
Posts: 5712
Location: That part of Texas | BARRELHORSE USA - 2015-04-14 1:26 PM Real Estate Brokers and attorneys want everyone to think that buying or selling a piece of property is complicated. Of course if a lender is involved then they protect their rights with long drawn out slow moving steps to make it look complicated again. The same 5 things happen on lender requirements ... only the buyer and seller names changes . .. yet .. they want you to think it is a mystery ... lol You can make it simple or very involved when attorneys and title companies get involved ..
It's not that we want people to think it's complicated -- we just want it done right. I make money off of people who don't hire attorneys or title companies to do searches on property because it costs much, much more money to clear up a mess than to do it right the first time. |
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Accident Prone
Posts: 22277
Location: 100 miles from Nowhere, AR | Red Raider - 2015-04-15 2:27 PM BARRELHORSE USA - 2015-04-14 1:26 PM Real Estate Brokers and attorneys want everyone to think that buying or selling a piece of property is complicated. Of course if a lender is involved then they protect their rights with long drawn out slow moving steps to make it look complicated again. The same 5 things happen on lender requirements ... only the buyer and seller names changes . .. yet .. they want you to think it is a mystery ... lol You can make it simple or very involved when attorneys and title companies get involved .. It's not that we want people to think it's complicated -- we just want it done right. I make money off of people who don't hire attorneys or title companies to do searches on property because it costs much, much more money to clear up a mess than to do it right the first time.
We didn't find the attorney's fees expensive either time, and our first one was a very complicated sale. Like you wouldn't believe that it actually came off without a hitch, it was so convoluted. LOL But it did. |
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 Expert
Posts: 4121
Location: SE Louisiana | BARRELHORSE USA - 2015-04-14 1:26 PM
You can do a one day property sale if buyer and seller are in agreement
by going to the court house and signing over the deed to the buyer.
Everyone needs to be honest in the deal with taxes paid and no liens
on the property.
Oklahoma Real Estate Commission has several contracts online that
allow you to type information into the forms and then print them off ...
CASH LAND CONTRACT .. another one day event ...>>
http://www.ok.gov/OREC/documents/Vacant%20Lot%20Land%201-2011.pdf
Once contract is completed and signed and notarized which can be done
at the court house .. transfer the deed and go home with the money in
your pocket ..
Real Estate Brokers and attorneys want everyone to think that buying
or selling a piece of property is complicated. Of course if a lender is
involved then they protect their rights with long drawn out slow moving
steps to make it look complicated again. The same 5 things happen
on lender requirements ... only the buyer and seller names changes .
.. yet .. they want you to think it is a mystery ... lol
You can make it simple or very involved when attorneys and title
companies get involved ..
I cut out a few 10 acre lots that I had sold already and the surveyors set everything up as soon as they got done.. no extra charge. |
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