Anyone with advice on property purchase without realtor?

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  • rseymorejr

    Ultimate Member
    MDS Supporter
    Feb 28, 2011
    26,002
    Harford County
    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.

    The surviving seller may need to bring a certified copy of the death certificate to settlement. Check with the title company ahead of time and see what they'll need.
     

    tallen702

    Ultimate Member
    MDS Supporter
    Sep 3, 2012
    5,102
    In the boonies of MoCo
    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.

    Yeah, it'll be death certificate. It's an unfortunate necessity, but in reality, she's probably had to drag it out to get finances, legal matters, etc. handled quite a few times so the sting has probably worn off a bit.

    Post pics when you guys close on it! Raleigh County can be really beautiful, even the ugly areas like Eccles have a beauty to them you don't find many other places. Whitetail should be rather abundant, and if my time in Clay County last summer was any indication, I'd expect the turkey flocks to be sizable. I couldn't get up and down the mountain around Ivydale without nearly smearing a bunch of them on the road every day.
     

    Foohaus

    Member
    Nov 22, 2020
    67
    We just bought land in WV. State law requires an attorney to handle closings. For a simple cash purchase, firms out there use “dual representation” and act as attorney for both buyer/seller. Fees are split; sellers generally pay real estate commissions if an agent is used. The process was dead simple on our end and the attorneys’ fees were low. They handled filing the deed with the county, etc.

    Unless there are complications, this dual representation is fine—feels weird, but in practice it’s not a problem and you could always hire your own attorney if problems arise.

    If purchasing with a mortgage, your lender will arrange closing and you should just have to show up.

    Last point that others mentioned: a verbal sales contract isn’t effective. You’ll need a written sales contract to proceed. You *can* write one up yourself, but it might be worth your time to hire a local attorney to work one up. Should be relatively inexpensive if they’re just drafting the purchase agreement. Maybe a couple hundred dollars.
     

    Foohaus

    Member
    Nov 22, 2020
    67
    Depending on how the land was held and whether or not the deceased owner addressed the property in a will, it may be as simple as presenting a death certificate to the county clerk and filing a new deed, or as complicated as going through probate.

    Since there’s two parcels, ownership questions, mineral rights issues, etc, I’d definitely recommend getting a lawyer to write up the purchase contract for you. You’ll need contingencies to protect you and allow you to back out if there are probate issues or other unexpected hurdles.
     

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