Anyone with advice on property purchase without realtor?

The #1 community for Gun Owners of the Northeast

Member Benefits:

  • No ad networks!
  • Discuss all aspects of firearm ownership
  • Discuss anti-gun legislation
  • Buy, sell, and trade in the classified section
  • Chat with Local gun shops, ranges, trainers & other businesses
  • Discover free outdoor shooting areas
  • View up to date on firearm-related events
  • Share photos & video with other members
  • ...and so much more!
  • Huuman

    Active Member
    Jul 20, 2019
    151
    Well we found a place to hunt and act as vacation home. Father-in-law (who grew up in WV and go back to hunt every year) reached a handshake/verbal agreement with a family member to buy their property. Good deal too in my opinion but family is family.

    I'm getting the mortgage loan (to this day, he's 74 and never had a credit card or anything under his name) and everything is good on my end. But since we are not using a realtor and I dont have any experience with WV house sale regulation, any advice? I hear it very different from other states. That lawyers are more involved. Are there still basic title company that can handle this as long as we have a sale contract? I only have experience buying house in MD, usually after a purchase agreement, the realtor did nothing except wait for their commision check.

    Note: Is it true that WV laws make getting permits to built house really hard? And that's why you see alot of trailers and per-fabucated home in WV because people didnt want to go to the trouble of getting permits?
     

    tallen702

    Ultimate Member
    MDS Supporter
    Sep 3, 2012
    5,102
    In the boonies of MoCo
    Well we found a place to hunt and act as vacation home. Father-in-law (who grew up in WV and go back to hunt every year) reached a handshake/verbal agreement with a family member to buy their property. Good deal too in my opinion but family is family.

    I'm getting the mortgage loan (to this day, he's 74 and never had a credit card or anything under his name) and everything is good on my end. But since we are not using a realtor and I dont have any experience with WV house sale regulation, any advice? I hear it very different from other states. That lawyers are more involved. Are there still basic title company that can handle this as long as we have a sale contract? I only have experience buying house in MD, usually after a purchase agreement, the realtor did nothing except wait for their commision check.

    Note: Is it true that WV laws make getting permits to built house really hard? And that's why you see alot of trailers and per-fabucated home in WV because people didnt want to go to the trouble of getting permits?

    Real estate agents can be helpful, especially in out-of-state transactions, because they know all the rules and laws that you're asking about. That said I'll check with a real estate agent buddy of mine to see what the exact deal is.

    In terms of getting permits, it's easier than most states.

    The reason you see trailers is because people are f***ing poor and that's what they can afford. There's a ton of hearsay about trailers being taxed lower and so if you build a house around them but still have the trailer as a part of it with the wheels on, it's cheaper, etc. etc. etc. But the reality is, there are trailers because they're cheaper and WV overall has a less robust economic engine than the surrounding states.

    Pre-fabs are for a similar reason, cheaper than stick-built. There are very few developers in the region outside of the major metro areas (Charleston-Huntington corridor and Morgantown-Clarksburg Corridor) so any non-trialer house you have is either going to have to be a kit home (think timber frame or log cabin) or pre-fab unless you go through the trouble of getting someone to draw up blueprints for you for a traditional stick-built home, and then hire a GC, then subs, etc.

    By the time you've bought the land, perked it, put a well on it, and gotten permits (which are EASY to get), it's a lot simpler to just pop a pre-fab/modular/trailer/log home on it than go through the traditional build process.
     

    davsco

    Ultimate Member
    Oct 21, 2010
    8,607
    Loudoun, VA
    congrats!

    the good thing about getting a mortgage is they will most likely make sure you've done everything you need to do to purchase (permits etc).

    if you are buying land only no house built, i would do what you can to ensure you will be able to build on there (incl getting elec, gas, water, etc).
     

    Nobody

    Ultimate Member
    Jan 15, 2009
    2,810
    IMHO if your purchase is a " as is where is" purchase you can do it with just a title company. Anthony other than that i would use a real estate agent.

    My 2 cents

    Nobody
     

    rseymorejr

    Ultimate Member
    MDS Supporter
    Feb 28, 2011
    26,002
    Harford County
    You need a written contract, verbal is no good. Some states require a lawyer to do the settlement, maybe WV is one of those? Whatever yo do make sure you get title insurance to protect you (not just the basic title insurance that protects the lender)
     

    Huuman

    Active Member
    Jul 20, 2019
    151
    Real estate agents can be helpful, especially in out-of-state transactions, because they know all the rules and laws that you're asking about. That said I'll check with a real estate agent buddy of mine to see what the exact deal is.

    In terms of getting permits, it's easier than most states.

    The reason you see trailers is because people are f***ing poor and that's what they can afford. There's a ton of hearsay about trailers being taxed lower and so if you build a house around them but still have the trailer as a part of it with the wheels on, it's cheaper, etc. etc. etc. But the reality is, there are trailers because they're cheaper and WV overall has a less robust economic engine than the surrounding states.

    Pre-fabs are for a similar reason, cheaper than stick-built. There are very few developers in the region outside of the major metro areas (Charleston-Huntington corridor and Morgantown-Clarksburg Corridor) so any non-trialer house you have is either going to have to be a kit home (think timber frame or log cabin) or pre-fab unless you go through the trouble of getting someone to draw up blueprints for you for a traditional stick-built home, and then hire a GC, then subs, etc.

    By the time you've bought the land, perked it, put a well on it, and gotten permits (which are EASY to get), it's a lot simpler to just pop a pre-fab/modular/trailer/log home on it than go through the traditional build process.

    Thanks for the information! That made a lot of sense and clear the picture for me. The place we are getting is in Glen Morgan Raleigh County. We could of involved a realtor but figured since its family and we are getting it way below market value, we can put more money in the seller's pocket.

    We're probably going with decent sized pre-fab since its no longer 'just for the boys'. Wife and mother-in-law decided they want in, that means the kids and the dogs and that stupid cat...oh well.
     

    budman93

    Ultimate Member
    Mar 1, 2013
    5,267
    Frederick County
    I would say that if you have to ask questions like that you should probably get a realtor. I wouldnt just trust the internet or people you ask.
     

    usa259

    Active Member
    Mar 11, 2015
    817
    We bought our current home for-sale by owner. I went to the title company that was used for our previous purchase and they provided a much simpler contract to use for the offer and it worked out great. Home seller and I agreed on the price and they split the difference and added it to the price to come up with the sales price. There were no complicating issues in our case.
     

    remodeler1

    Active Member
    Jul 23, 2013
    837
    Frederick
    I've done several real estate transactions as you describe in MD. I used a settlement attorney to write the contract & the deed to mirror our agreement & perform the settlement on the properties. (Record the deed etc...)
     

    Biggfoot44

    Ultimate Member
    Aug 2, 2009
    32,876
    Sometimes if you do your due diligence , a good Title Company can adequately handle things . But when in doubt , use a Settlement Attorney .

    And since it is family , if changes need to be done , you will have yourself covered by blaming it on the lawyer , instead of you being the potential ******* if there are hard feelings later down the road .

    *********************

    So when's the MDS Housewarming Open Carry BBQ ?
     

    GTOGUNNER

    IANAL, PATRIOT PICKET!!
    Patriot Picket
    Dec 16, 2010
    5,492
    Carroll County!
    My last purchase of land, we had no contract, i wrote the deed. Seller signed and Notarized it. I went to the court house and paid 26 bucks to have it recorded. I paid for the tax stamps I paid prop taxes that were due.

    I did do my own title search. Folks in the court house were very helpful. But couldn't off advice.

    No permits required where i am going to build. Septic tank needs a permit, but not inspected.. odd.
     

    TheBert

    The Member
    MDS Supporter
    Aug 10, 2013
    7,684
    Gaithersburg, Maryland
    Thanks for the information! That made a lot of sense and clear the picture for me. The place we are getting is in Glen Morgan Raleigh County. We could of involved a realtor but figured since its family and we are getting it way below market value, we can put more money in the seller's pocket.

    We're probably going with decent sized pre-fab since its no longer 'just for the boys'. Wife and mother-in-law decided they want in, that means the kids and the dogs and that stupid cat...oh well.

    If it is a transaction between family members I would have a written contract and have a title company or lawyer deal with the paperwork.
     

    Huuman

    Active Member
    Jul 20, 2019
    151
    My last purchase of land, we had no contract, i wrote the deed. Seller signed and Notarized it. I went to the court house and paid 26 bucks to have it recorded. I paid for the tax stamps I paid prop taxes that were due.

    I did do my own title search. Folks in the court house were very helpful. But couldn't off advice.

    No permits required where i am going to build. Septic tank needs a permit, but not inspected.. odd.

    See, it should be that easy. But i'm pretty sure its not, guess I'll find a title company to handle stuff since I cant be local.

    The mineral right things is what pushing me to find a professional. Because I know the area around the neighborhood was part of a coal mining company.
     

    tallen702

    Ultimate Member
    MDS Supporter
    Sep 3, 2012
    5,102
    In the boonies of MoCo
    The mineral right things is what pushing me to find a professional. Because I know the area around the neighborhood was part of a coal mining company.

    Very important to make sure the mineral, timber, and water rights convey (all three!) All of Raleigh county is basically one giant multi-level coal seam that can cause issues if you don't have the rights. Don't want a coal company deciding that the old mine under your property has enough coal left in the pillars to make it worth a retreat mining operation. Next thing you know, your house is falling to pieces because the land is dropping down as they pull the pillars.

    Also, from my real estate buddy:

    Bestitle in Charleston handles Raleigh. Fast and very reasonable 304-343-0235

    He also said: "They (meaning you, OP) can pick up a generic real estate contract at Staples or find one online. keep it simple."


    Title company can ascertain if the rights convey.

    Lastly, While Glen Morgan itself was never a company town, you're right across the crick from Raleigh which was at one point, the second largest town in Raleigh County. It's an area rich in mining history. CoalCampUSA.com has some good info on Raleigh and the extant remains of the old company town, mine, and workings of the area: http://coalcampusa.com/sowv/river/raleigh/raleigh.htm
     

    GTOGUNNER

    IANAL, PATRIOT PICKET!!
    Patriot Picket
    Dec 16, 2010
    5,492
    Carroll County!
    WV has very accurate mining maps. Plus the GIS mapping will indicate whether the property has been mined or not. Maps show the depth of coal, the over burden. All sorts of info.

    I don't have coal rights. But i doubt it will ever be mined. The parcel was at one time several hundred acres. It was 1904 when the coal was purchased for 20k. Some mining laws have changed to protect the environment that some places won't be mined.
    I have a gas well on the property but the royalties go to a bunch of other folks. I will have free gas once i build. The cost will result in less royalties to prior heirs.

    One other thing. Over years, heirs disappear or there are no heirs. After 7 years the property owner can get the royalties back. Mind you that over 100 years how big the group of heirs maybe. What was worth good money when shared by 4 people is more of a pita to 60 people. Banks only have to perform a good faith search for heirs. They could really care less.
     

    tallen702

    Ultimate Member
    MDS Supporter
    Sep 3, 2012
    5,102
    In the boonies of MoCo
    WV has very accurate mining maps. Plus the GIS mapping will indicate whether the property has been mined or not. Maps show the depth of coal, the over burden. All sorts of info.

    To a point. For example, there are enough abandoned wildcat mines in the Charleston region alone to keep surveyors busy for the next couple of centuries. Most mining maps that we have are from the early 20th century and onward, there are still plenty of operations from the late 1800's and pre-FDR times that aren't mapped well, or at all. As a matter of fact, I reported several open and abandoned portals to the WV DEP and SkyTruth a few years back. They were portals under Eastridge in the South Hills neighborhood of Charleston and up S. Ruffner Hollow that they simply didn't know about because they were wildcat mines that sprang up in the boom times.

    That said, coal is dying and I don't think we'll even see 1980's or 1990's production levels ever again let alone the true "boom" days of the early 20th century when company towns were popping up overnight. With that in mind, chances of having your property disrupted by a deep mine are minimal. MTR mining disturbing your land, on the other hand, is still a real danger in some areas.
     

    Mightydog

    Ultimate Member
    MDS Supporter
    Need a title company and a real estate lawyer. Sold my dads house about 4 years ago in Pennsylvania. His neighbors daughter wanted to buy it. She got her mortgage company and title company as buyer. I got a real estate lawyer as seller for my dad. My lawyer charged I believe a percentage of the sales price. Cost me about $1200-$1500 as seller.
     

    Huuman

    Active Member
    Jul 20, 2019
    151
    Very important to make sure the mineral, timber, and water rights convey (all three!) All of Raleigh county is basically one giant multi-level coal seam that can cause issues if you don't have the rights. Don't want a coal company deciding that the old mine under your property has enough coal left in the pillars to make it worth a retreat mining operation. Next thing you know, your house is falling to pieces because the land is dropping down as they pull the pillars.

    Also, from my real estate buddy:



    He also said: "They (meaning you, OP) can pick up a generic real estate contract at Staples or find one online. keep it simple."


    Title company can ascertain if the rights convey.

    Lastly, While Glen Morgan itself was never a company town, you're right across the crick from Raleigh which was at one point, the second largest town in Raleigh County. It's an area rich in mining history. CoalCampUSA.com has some good info on Raleigh and the extant remains of the old company town, mine, and workings of the area: http://coalcampusa.com/sowv/river/raleigh/raleigh.htm

    Contacted Bestitle, they seem to be straight forward with pricing and customer services. Hopefully everything goes smoothly and I close end of April, then deposit my father-in-law there so he can setup everything for turkeys and whitetails for upcoming season!

    Only thing i saw of issue was that the property is actually 2 different parcels, so got to make sure that we are getting both deeds. Oh also need to find out what is required when one of the owners died but still on deed (the seller's husband died recently so the wife is selling so she can buy a house near her kids). I'm guessing at some point she needs to show someone a death certificate, not the most pleasant task to ask someone to do.
     

    Users who are viewing this thread

    Latest posts

    Forum statistics

    Threads
    274,915
    Messages
    7,258,427
    Members
    33,348
    Latest member
    Eric_Hehl

    Latest threads

    Top Bottom