Attorney Needed?

boman47k

If you are selling a piece of property for cash, do you have to have an attorney to transfer the deed? Or, can buyer and seller do it at the courthouse on their own at the records department?

I am the seller in this case. I would think the buyer would want go the attorney route to be protected.

ScipioAfricanus

I think the least you should do is go through a reputable escrow service. Much cheaper than an attorney, they take the monies and the deed then perform the swap for a price. You can split the cost.

Just my honest opinion.


Oh, and if you go this route you owe me a hunnert bucks.

SLSTech

I have never used an attorney for any property I have bought - everything was handled through a title company

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boman47k

Thanks for the responses.

RCPainting

Title company is all you need. I bought a piece of land in the desert 20 years ago on a handshake. Went to sell it 3 years ago, went thru title and discovered a problem. 3 years in court and 12,000 in lawyer fees!

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boman47k

Who had to pay the costs?

boman47k

boman47k

Kind of a strange situation.

This home builder called me a several weeks ago wanting to buy this piece of ground. Told him to let me think about it.
To make long story short, his wife called last week and wanted to meet and talk about it. We met at a resturant. The three of us discuss it a little. I never mentioned a number to her. I had told the husband a few weeks before the price would be in the ballpark of 53,000. She offered me 55,000. I still would not commit. She thought she was offering 5,000 more than what I had told the husband. Anyway, she wanted to pay me some ernest money (1,000). I finally agreed if they would pay any and all costs involved.
I asked when they wanted to do this thing, and it was like yesterday. They were supposed to get in touch with an attorney then call me. I kept the check for 3 dfays and cashed it. I called 3 numbers to get in touch with them Friday. Called again Monday and was toild they were waiting on me to get in touch with an attorney and they were going to pay the cost. He said he would call one today and call me and to go ahead and cash the check, everything was good. So far, I haven't heard a thing.

Kind of got me scratching my head.

RCPainting

We did.

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boman47k

Were the sellers still alive?

Anyway, that is the reason I would think they would want protection on this deal.

I told them I was a compulsive sort and I might not want to sell it the next week. Their response was, it should take but a few days ( weeks end). My understanding was they were not having to borrow the money. I hope t hey don't think they can make me wait forever just because I cashed the check. She put "earnest money" and the property locale on the check. I had a copy of it ran off before cashing it. No other paperwork.

jbfan

Did you sign a contract to sell the land?
If you have a contract, and they do not meet the time frame for payment, or financing, then you will be able to keep the check.
As a buyer, I want my assets protected, so a title company is the only way I would do the deal.

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boman47k

No contract, just a check for earnest money.
If things go south and I decide to keep the money, I wonder how long would be considered a reasonable time to wait with no contract and no closing date.

Framer53

I guess I must be an oddball. I hire an attorney and sign a power of attorney so I don't even go to closing. Nothing like getting up and having a message to go pick up a check!

boman47k

I agree Framer, that sounds a lot better than what we, but this kind of came out of the blue since I think I had told him a couple of weeks ago we were not ready to sell or even knew if we would sell. I had concerns about capital gains, what I would do with the money, etc..

Capital gains... I'll make anothe rpost.

boman47k

Still no call back from these people. I have had another guy call me that had been told I might be interested in selling that property. I am beginning to wonder if there is something I should know about that area.
For example, there in an interesting business about a 1/2 mile down the road that I think I read lately is planning on some kind of expansion.

www.flogos.net/media/times_daily.htm

My property is 5500 per acre. A few miles back toward town on the same road is , I think, 5 acres for 40,000. BUt the seller of that property always lists high and just waits I guess until someone buys.

This has me perplexed and I am not sure I even want to call the people to do this deal.

Framer53

I think a lawyer might argue that you have a contract to sell the property to the people that gave you a check. I hope you put the check in an escrow account at your bank.
I might send a letter to the people asking them to preform or like I mentioned in another post, go to your lawyer and get him to handle. I always like it when my lawyer negotiates for me!!!!

K2

Depends what state your in. Legal advice on the internet is worse than structural engineering on the internet.

boman47k

Well, I would like to think all I would have to do is return the earnest money, but the way things are sometimes, might not work that way.

Framer53

most lawyers will give you a free apointment, they will give you advise and tell you how much they wil charge to handle.

Please don't depend on us internet "lawyers", remember we haven't charged you for our "free" advise!

boman47k

Heheh, I am very well aware of free advise from the net. I was hoping someone from this state might have some experience with this. I called the lady again today at her home number. It might be she had not gotten home yet, but I got no answer and left a message for her to call me. 6:47 pm now and still nothing. I'm thinking it is time to get some local legal advice. I need to get my notes together as to when I called, when, I called, results, etc..

Thanks for the responses.