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Posted: 5/11/2020 11:34:53 AM EDT
Do plan to see lawyer but after the king fun virus moves along

Am trying to get an adjacent piece of property.

What things / documents need drawn up ( sales contract ? )

And how does deed get transferred?
Link Posted: 5/11/2020 12:00:33 PM EDT
[#1]
Hire a real estate lawyer, they can handle everything.  I always use one.
Link Posted: 5/11/2020 12:02:14 PM EDT
[#2]
if you go directly to a title company, that may be easiest route.
Link Posted: 5/11/2020 12:10:26 PM EDT
[#3]
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Originally Posted By rmakak:
if you go directly to a title company, that may be easiest route.
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I did this twice.  Title company handled everything.
Link Posted: 5/11/2020 11:17:34 PM EDT
[#4]
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Originally Posted By rmakak:
if you go directly to a title company, that may be easiest route.
View Quote

This^^^

Written sales contract with the buyer then go to the title company. They handled everything except the mortgage work. And when closing day came and my wife had a 2 year old and infant while I was 13,000 miles away in the sandbox, the owner of the title company came out of the back and helped keep the kids distracted while my wife signed all the papers.
Link Posted: 5/31/2020 12:16:27 PM EDT
[#5]
Discussion ForumsJump to Quoted PostQuote History
Quoted:

This^^^

Written sales contract with the buyer then go to the title company. They handled everything except the mortgage work. And when closing day came and my wife had a 2 year old and infant while I was 13,000 miles away in the sandbox, the owner of the title company came out of the back and helped keep the kids distracted while my wife signed all the papers.
View Quote View All Quotes
View All Quotes
Discussion ForumsJump to Quoted PostQuote History
Quoted:
Originally Posted By rmakak:
if you go directly to a title company, that may be easiest route.

This^^^

Written sales contract with the buyer then go to the title company. They handled everything except the mortgage work. And when closing day came and my wife had a 2 year old and infant while I was 13,000 miles away in the sandbox, the owner of the title company came out of the back and helped keep the kids distracted while my wife signed all the papers.


Owner executes deed conveying into buyers name.
Not all that much to sign by the buyer unless a mortgage is involved.
You generally do not have to sign a title insurance policy.
The issuer signs it issuing the policy in your name.
When I purchased my present house for all cash I never actually met the seller.
They executed the deed. Settlement agent held it till money had cleared later that day by wire.

'Single person ownership' in Virginia.
"Sole Ownership" is what the deed says.

Link Posted: 5/31/2020 12:30:59 PM EDT
[#6]
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Quoted:
Hire a real estate lawyer, they can handle everything.  I always use one.
View Quote

Now this is a smart man. A lot of RE Attorneys will write title too. Spending a couple grand is cheap ins. and a good way to keep from things going sideways.
Link Posted: 5/31/2020 5:06:23 PM EDT
[#7]
Discussion ForumsJump to Quoted PostQuote History
Quoted:

Now this is a smart man. A lot of RE Attorneys will write title too. Spending a couple grand is cheap ins. and a good way to keep from things going sideways.
View Quote View All Quotes
View All Quotes
Discussion ForumsJump to Quoted PostQuote History
Quoted:
Quoted:
Hire a real estate lawyer, they can handle everything.  I always use one.

Now this is a smart man. A lot of RE Attorneys will write title too. Spending a couple grand is cheap ins. and a good way to keep from things going sideways.


Depending on your state, settlement companies make an attorney available to handle the actual settlement.
I think Virginia still requires settlements to be 'handled' (as in at least supervised) by an actual attorney.
Most are RE specialists.

In may places they are a great source of settlement details and actual performance of the paper passing and deed writing.

Deeds vary by location.
Every place seems to have specific wording requirements.
It is often very localized specific wording.
NH starts with something like "Know ye all men by these presents..."
Va is not the florid, but still very standardized.

To make a deed a valid contract it almost always has some nominal amount of money declared on ts face.
Virginia was "One Dollar ($1)" for along time, but the last few I have had $10.
And to put it all into the background "Receipt of which is here acknowledged." is also stated.
Never had anyone actually pay it though.
A contract must contain value for value in the exchange to be valid.
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