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Post by leexrayshady on Jul 22, 2019 15:38:46 GMT -6
I'm buying the 2 acre lot next to our house so we don't have to worry about people building next to us. We are buying it directly from the owner no Realtors involved. I have never bought property that didn't include a realtor, the selling owners just want to use a title company for the transfer as I am paying all closing costs and they believe that is the cheapest route. Should I insist on using a realtor or really estate attorney or is a title company ok to use?
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Post by badgerfowl on Jul 22, 2019 16:12:05 GMT -6
Save the fees and just use the title company would be my guess.
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Post by Bwoods11 on Jul 22, 2019 16:19:32 GMT -6
Title company should be fine, as long as they are doing a title search. No liens, encroachment s, assessments, etc...
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Post by Tooln on Jul 22, 2019 16:33:02 GMT -6
I purchased my 40 without a realtor. Just went with a lawyer who made sure everything was right.
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Post by batman on Jul 22, 2019 16:38:23 GMT -6
title company. you can have an attorney answer any questions the title co brings to light if need be.
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Post by Foggy on Jul 22, 2019 17:20:13 GMT -6
title company. you can have an attorney answer any questions the title co brings to light if need be. Seems to me you should be good with the title insurance company. I think most land transfers this way these days. My house in OZ is done thru a title company.
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Post by Catscratch on Jul 22, 2019 17:30:53 GMT -6
I just sold a trailer house and a lot through the title company. They did all the research needed.
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Post by MoBuckChaser on Jul 22, 2019 18:49:25 GMT -6
Title company is fine as long as the sellers are buying you title insurance from a well known company.
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Post by DoubleLiver on Jul 23, 2019 17:23:54 GMT -6
You should be able to get your own title insurance policy from the title company. Its usually cheap.
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Post by MoBuckChaser on Jul 23, 2019 17:28:24 GMT -6
You should be able to get your own title insurance policy from the title company. Its usually cheap. Why the fuck should the buyer pay for it? Seller provides either an updated abstract or title insurance to the buyer. End of story.
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Post by Foggy on Jul 25, 2019 18:04:30 GMT -6
You should be able to get your own title insurance policy from the title company. Its usually cheap. Why the fuck should the buyer pay for it? Seller provides either an updated abstract or title insurance to the buyer. End of story. I agree. The proof is on the seller that he has a good title to the property to be conveyed to the buyer. He's gotta produce his clean ownership before you pay the dough. No play / No Pay.
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Post by nhmountains on Jul 28, 2019 3:55:23 GMT -6
We’ve always written into our purchase/sale agreement that the bid is dependent upon clear title. That gives you the out of its not clear. That happened once. It cost my wife and I $1500 in legal fees to find out the land wasn’t sellable. Our lawyer said we could sue but that would cost us even more money so like Mo says make the title search cost on the seller. That way you don’t get screwed if it’s in probate or has liens on it.
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Post by DoubleLiver on Jul 28, 2019 19:02:40 GMT -6
You can still get clear title and five yeas down the line the title isn clear anymore for some reason. That is what title insurance is for. If you can get the seller to pay for it, great. If not, i wouldstill buy it.
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Post by sd51555 on Jul 28, 2019 19:18:28 GMT -6
You can still get clear title and five yeas down the line the title isn clear anymore for some reason. That is what title insurance is for. If you can get the seller to pay for it, great. If not, i wouldstill buy it. Does it even cost that much? I think the title policy for stab camp was $80. I remember it being the equivalent of 5 cases of beer, South Dakota prices, or 3 cases of beer MN prices.
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Post by Foggy on Jul 28, 2019 19:21:39 GMT -6
The title insurance company makes SURE the title is clean and they are on the hook if something goes wrong. It's how they make a dollar instead of giving it to an attorney for an "opinion".....which does not guarantee anything. Title insurance by a reputable and solvent company is better than a Lawyers opinion.....IMO......which is worth less than either. . FORE!
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