Thanks for the quick response. When I took the documents, generated by the attorney, to the county recorder, they did not look at them. The attorney had explained to the buyer at the closing the significance of recording the deed, joking it would prevent me from reselling the property. In hindsight, the attorney was about to leave on a cruise, so he may have rushed through this transaction. I will contact the attorney for his assistance. Thank you again.
The county should be fully aware of this change in ownership because they recorded your deed, but in many cases – the city or township administration is in a completely separate office and they don't share the same systems with the county. As such, they need to be notified separately about the property's change in ownership (and if they aren't made aware of the change, they'll continue sending the property tax bills to the old owner).
Once you’ve decided that you want to sell, you should try to get your home in tip top shape. A well-maintained home will stand out from other properties for sale and create a better impression on buyers. Tend to any repairs and maintenance issues like leaky taps, faulty switches and broken windows. These obvious flaws will put buyers off or encourage them to try to negotiate you down because of them.
The first obligation of a vendor to the purchaser is to make sure they can provide clear title to the purchaser, in other words, ensure your property can be freed of any encumbrances or orders or conditions at settlement so that the purchaser has clear title to the property.  Your lawyer or conveyancer can assist you with this but the obligation is on you so make sure these matters are worked out before you start signing contracts.
Depending on the state in which the property subject to the land contract sale exists, the buyer will want to file additional forms to gain the benefits of being the property owner, even though technically, the buyer does not have a true legal title to the property until full payment of the purchase price is made. Such forms may be a property transfer affidavit, which you may be required to file with the city assessor’s office for tax purposes, or a principle residence exemption, which gives the buyer a tax break for using the property as the buyer’s principle residence.
Sellers have a choice between using an estate agent to market their property or selling privately. There are benefits to using both and it is up to the buyer to decide which option to take. Selling privately has an obvious cost benefit and puts you in control of the selling process. You get to decide who to show the property to and when to allow buyers access to your home. You, as the seller, also have intimate knowledge about the home’s history and the area, and will be able to add value to the buyer. Sellers should however have some knowledge of the property market and decent negotiation skills if they decide to go down this route. .
Nowadays all of my favorite software packages come for the same price: free.  So I’d check out what’s available at tucows.com or software.com.  You can also make a tolerable web page using Microsoft Word (which probably came loaded on your computer) however, if you’ve never made any web pages before, you’ll probably also be needing  web-space to put them on, and you can find both web-authoring software and web-space available cheap or free with a little thoughtful web-searching.

I do most of my own title searches these days, but only because I know what I'm doing. If you have no idea where to start (even after watching the video above), there's nothing wrong with playing it safe and hiring a title company to handle this for you. Pay attention to what they're doing, ask a lot of questions along the way and learn how to do it yourself for future reference.

Hi Dothan – thanks for asking! The package explains all of the standard steps for handling the closing in-house, but it’s geared more towards vacant land investors (and vacant lots are a bit simpler to close on than a standard home). If you’re working with a bank, they might even require that you go through a title company (and honestly, if the purchase price is $10,000 or higher, it should be fairly easy to justify the closing costs).


Hi Seth, and thanks for the quick response! I’ve looked at the steps you’ve outlined, and, other than a few required disclosures when selling a house, the steps seem the same to me. I’m just not willing to pay a third party 2300 bucks to close a cash deal on a 54k property. It’s just not right that I can go pay cash for a 54k car, but somebody else’s hands have to be in the pot when I buy a 54k house for cash! Arghh! I’m going to buy title insurance because the owner is in bankruptcy, but I really don’t see anything else that I can’t do by myself. I’m waiting on a couple of quotes from different title companies, but I’ll likely buy your package and go from there. Even if it doesn’t work out for this deal, I’m sure I’ll be able to use the info on future land only deals!
Equally, if you are thinking of buying a particular property, you don’t have to wait for a property to go on the market or appear in the real estate section of the newspaper in order to make an offer to purchase it.  There is nothing stopping you from approaching the owner directly and asking if they are prepared to sell their property if the price is right.
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Consider all offers. An offer can be accepted, rejected or countered. You choose how to respond but it's important to remain focused on your bottom line. Don't take any offers personal. Buyers generally are looking out for their best interest; you need to look out for yours. As the seller, you may decide not to counter if you think that the buyer is not serious enough to continue negotiations.
If the buyer has secured financing or is planning on paying with cash, a contract for sale will be necessary. This contract will specify the terms of the sale and may also specify other documents required before transferring the deed. This may include the financial documents that are necessary to secure financing. The contract may also indicate that title insurance will be provided. In this case, the title company may be involved in the transaction.
An attorney’s office or a title company can prepare closing documents for a land contract sale, but only the parties themselves or an attorney can prepare the actual land contract document and land contract memorandum. It is important to keep copies of all documents involved in closing on a land contract to verify required filings are performed and to protect each party’s interests in the sale.
Hi Brandy, thanks for reaching out! Most of the deals I close in-house are vacant land, so there isn’t much work involved with contractors or improvements. If I were you, I would probably bring this kind of deal to a title company or closing attorney, simply because they’ll be able to handle the moving pieces a lot better than you can on your own (and the cost should be reasonably low – low enough to justify the value they’ll be bringing to the table).
Equally, if you are thinking of buying a particular property, you don’t have to wait for a property to go on the market or appear in the real estate section of the newspaper in order to make an offer to purchase it.  There is nothing stopping you from approaching the owner directly and asking if they are prepared to sell their property if the price is right.
Purchase agreement: A purchase agreement is a document stating the buyer is going to buy the land for a given amount, and that you’re going to sell that land for that amount. A purchase agreement also lists any conditions that would allow either of you to back out of the sale, and includes any details of the purchase that have been met, such as the buyer making a down payment.
It is unfortunate, but one of the most common phrases we hear from sellers is “I don’t want to do anything to the land, just sell it as is.” At that point we begin the education process, but sometimes to no avail. Some sellers are just determined to leave significant amounts of money on the table due to the lack of “curb appeal” displayed by their property.
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A lot of attorneys would love you to believe you have to cough up $1,000+ every single time you need to close a deal. There may be the occasional case where you have a VERY complicated deal that ought to be handled by an attorney (and in some states, the involvement of an attorney is required – see this blog post for more information), but I've found that in many cases, there is nothing wrong with using these basic templates to close transactions in-house.
My neighbor and I both want to do this as inexpensively as possible. I’m not expecting to make much more than what is needed to cover the mortgage payoff and a little extra to cover closing costs. I’m not sure what level of professional help needs to be involved, but the realtor who handled the deal for the home I just bought said it was as simple as contacting a title company to cover the necessary paperwork. Is that true?
And last but not least, you can advertise it for sale online. Three sites that I recommend, especially if you need to sell your land fast, are Bid4Assets.com, eBay, and Craigslist.org. The internet should be your medium of choice for those of you who are selling land that is located in very secluded and isolated areas of the country, far removed from civilization, since there won’t be any people nearby to see your “for sale” sign.
Once you’ve decided that you want to sell, you should try to get your home in tip top shape. A well-maintained home will stand out from other properties for sale and create a better impression on buyers. Tend to any repairs and maintenance issues like leaky taps, faulty switches and broken windows. These obvious flaws will put buyers off or encourage them to try to negotiate you down because of them.
Once you’ve got the mechanics taken care of, all you need to do is collect absolutely everything you can think of that will describe your property, which may include, but will not be limited to, a written description, lots and lots of photographs, perhaps taken in different seasons, information about the local area, last year’s real estate taxes, aerial photos, road maps and perhaps a .pdf or .jpg copy of the survey, if available.
Sellers have a choice between using an estate agent to market their property or selling privately. There are benefits to using both and it is up to the buyer to decide which option to take. Selling privately has an obvious cost benefit and puts you in control of the selling process. You get to decide who to show the property to and when to allow buyers access to your home. You, as the seller, also have intimate knowledge about the home’s history and the area, and will be able to add value to the buyer. Sellers should however have some knowledge of the property market and decent negotiation skills if they decide to go down this route. .
Bargain hunters: Of course, some buyers may find you even without a buyer’s agent. “If you have a great house, in a sought-after neighborhood, and you’re on a busy road where you’ll get a lot of visibility, then you might do fine working with only the unsigned homebuyers who discover your house on their own,” says Schorr. If you’ve got a charmer with a great kitchen in an affordable price range, they’ll find it online no matter how far off the beaten path you are.
Cates Auction & Realty Company has been working with property owners and selling land at auction since 1942. We use accelerated auction marketing methods and competitive bidding to generate interest in and increase the market value of your land. We’re committed to getting the best price for your property, in the shortest amount of time. To learn more about the benefits of selling your land at auction, contact us today.
I've seen a lot of different situations and dealt virtually every type of buyer, seller, lender and property type imaginable. After working through many of the different scenarios that can materialize in the real estate closing process, I have to admit – I understand why most people are intimidated by the idea of closing a real estate transaction themselves. For understandable reasons – there can be a lot of confusion and fear about how to close a real estate deal without the assistance of a professional.

Make sure the deposit is held by the conveyancer of the vendor, not the vendor if unrepresented.  A conveyancer has professional obligations with respect to the retaining of deposits which are effectively held on trust for both parties in a transaction pending completion of its terms.  A lay vendor has no such professional obligations, although they of course have legal obligations but those obligations can often only be “policed” in Court.
I sold a house in Illinois with assistance of an attorney four years ago. The attorney instructed the buyer to record the deed during the closing. The buyer has never done so. I still receive the tax bills that I pass on to buyer with requests that he record the deed. I took all documentation of the sale to the county recorder but was informed that only the buyer could record the deed. Any advice?
If you have unimproved land to sell, you may also find that the majority of agents are more interested in selling more expensive improved properties where they stand to make much larger commissions (and get fewer ticks) so your five acres of woods may get short shrift when it comes to exposure to the market.  This wouldn’t be such a big problem were it not for the fact that these days, more and more brokers are insisting on exclusive listing contracts that obligate you to pay them a commission even if you sell the property yourself to the fellow next door.
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