Hi Walt – certainly. The delinquent tax list could be a solid way to get started. I typically look for land deals when I’m wholesaling, whereas most wholesalers are doing land… so that would be one key difference in the types of deals I look for (mainly because land is a much simpler type of property to work with – even though there may be fewer buyers for this type of property).
In the very least, your land contract should include the address of the property and a full legal description of the land. It should also include the down payment amount, purchase price, the number of payments that will be made, the monthly payment amounts, and any balloon payments that may be required. You may also consider creating and attaching an amortization schedule.
If all else fails, and you're still not happy, check to see if your contract has a cancellation clause. Depending on the situation, some agents may agree to nullify the contract, although they may charge you an early cancellation fee, says Realtor® David Welch, with RE/MAX 200 Realty in Winter Park, FL. If an agent won't release you from a contract, try speaking with a lawyer about breaking it. And remember, all listing agreements eventually expire, within three months to a year.

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.
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.

The one technique for how to sell a piece of land that is the same for home sales is using imagery to help buyers get a feel for the property and to help them get a sense of what they can do with it. For example, when you’re selling a home, you want to include plenty of photos with the listing and hold open houses so people can get a feel for the house. You want to clear out clutter and stage your home so buyers can visualize themselves living there, without being distracted by photos of your kids.

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?
Now, when you get into the more expensive properties, as a general rule – it’s usually safer to work through a title company on those (and it’s easier to justify the costs too), and in those cases, you may not have a choice but to do a quiet title action, because the deal won’t close without this extra step. But again, since there will most likely be more profit baked into these larger deals, it may be easier to justify these costs.
BuyMyHome Pty Ltd trading as buyMyplace collects your information to provide our services and may use it to provide you with information and updates that may interest you including as to our service and other related products and services. If you don’t provide your info you may not be able to access our products or services. Our Privacy Policy contains full details on how your info is used, how you may access/correct info held and our privacy complaints process.
Provide as much detail as you can. Land buyers want the facts, and they wanted them yesterday. When you’re listing your property, be sure to include the zoning, plus details on whether the buyer will be able to change the way the property is zoned. You also want to include details on taxes paid on the land and other typical expenses. If you can, include the tax-roll printout from your local land registry or county assessor and include the legal description of the land in the listing. You can also provide that detail when people come to look at the land.
While a good agent can certainly help with the negotiation process, he or she also has a vested interest in the transaction. “And closing the deal may in some cases be more important to the agent than getting you the absolute best price,” Schorr says. If you’re a good negotiator and can handle the process without emotion and with clear eyes, you might do better on your own.
The land contract should also state how the payments are to be made, including the due date, any grace periods for late payments, late payment fees, and where the buyer should deliver each payment. Typically, the land contract buyer will be treated just like the property owner and thus will be responsible for the taxes on the property, the insurance, and any utility bills including water and sewer which are typically billed directly to the property.
No, the purchase agreement doesn’t need to be notarized – however, in some states (like Michigan, for instance), you technically need to get a witness signature to go along with each party’s signature (the witness doesn’t need to be a notary, it can be pretty much anyone). That being said – there’s nothing “wrong” with getting a notary’s signature on this, it’s just overkill.
If all else fails, and you're still not happy, check to see if your contract has a cancellation clause. Depending on the situation, some agents may agree to nullify the contract, although they may charge you an early cancellation fee, says Realtor® David Welch, with RE/MAX 200 Realty in Winter Park, FL. If an agent won't release you from a contract, try speaking with a lawyer about breaking it. And remember, all listing agreements eventually expire, within three months to a year.
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).
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.
We are Kansas City's oldest and most experienced real estate auction company specializing in accelerated real estate sales in Missouri and Kansas, including Overland Park, Lenexa, Shawnee, Leawood, Kansas City, Lee's Summit, Olathe, Blue Springs, Independence, Liberty, Kearney, Parkville, Smithville, Gladstone, Clay County, Platte County, Jackson County, Johnson County, Wyandotte County, Leavenworth County, Cass County, Lake of the Ozarks, Lake Ozark, Sunrise Beach, Osage Beach, Four Seasons, Shawnee Bend, Miller County, Camden County, and around the Midwest. Kansas City auctioneers with regional expertise!
Some states have laws that treat a land contract similar to a trust deed, and those land contracts provide for a trustee, giving a trustee "power of sale" to initiate foreclosure proceedings in the event the Vendee defaults on the contract. Other states give buyers a longer period of redemption, similar to those under a mortgage. For these reasons, it is important to reduce the chances of default by pre-qualifying the Vendee.

The one technique for how to sell a piece of land that is the same for home sales is using imagery to help buyers get a feel for the property and to help them get a sense of what they can do with it. For example, when you’re selling a home, you want to include plenty of photos with the listing and hold open houses so people can get a feel for the house. You want to clear out clutter and stage your home so buyers can visualize themselves living there, without being distracted by photos of your kids.
Demand a Title Insurance Policy. Title searches of the public records will also show liens or judgments filed against a buyer. The title company will likely ask for satisfaction of those encumbrances before it will insure the land contract on a title policy. Ask to see a copy of the preliminary title report (or commitment for title insurance) to determine if a search reveals anything about the buyer.
Just like any sale of real estate, a land contract should begin with a purchase agreement. This is a legal document signed by a potential buyer making an offer on the real property for sale. The purchase agreement should indicate that the offer is for a land contract, and should state the purchase price, initial cash down payment, length of the payment term, and any other terms of sale.
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.
Each approach has it’s pros and cons – and it does take more hassle to close it yourself rather than using a title company or closing attorney… so these are definitely things to keep in mind if you decide to go this route. You’ll definitely save money by doing an in-house closing, but it’s also a bit more complicated and time-consuming to handle everything yourself.
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.
anyone interesting in commercial land on busy road? very close to i279 north of pittsburgh pa area and its permit allow to rebuild home or parking lot or something of business as well. last price value is 12 k but not sure what it is worth in value it is on 3856 east street... 15214... 2041 sq feet formerly warehouse was there and the land is cleared out... with fence...
×