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Buying land direct from owner

Northbound

Northbound

5 year old buck +
So I'm looking at another parcel of land. Basically waiting for the realator contract to expire and deal direct with owner. In the past I've had title company's handle it or with a few small lots I've gotten quit claim deeds and filed with the previous owners present at country clerk.

My problem is that my girlfriend always did the quit claim stuff for me. I have no clue where she got forms and such. She gets a little irritated with my buying of more land and not sticking money in to silly things like a new kitchen... so I need to keep this kinda under wraps at least until a extra tax bill shows in mail if she notices lol. Any good sources for downloading documents?
 
Some real estate contracts have clauses that state that even though the contract has ended, if the property is sold to anyone that had contact with the seller or the agent then the agent still gets the commission. This could go for an additional 3-6 months so you need to be aware. Also, I would always get a Warranty deed not a quit claim deed. Quit claim deeds can be potential problems concerning liens among other things. A warranty deed, title search and title insurance in my opinion are the only way I would buy anything. A lawyer shouldn't charge very much at all to do these things and well worth it if your not paying a real estate agent commission.
 
Yeah, I haven't had any contact with their agent. Had talked with them about it before a realator was in play. Known the family for years. I'll make sure he checks his contract to see if we need to wait some time before transaction.
 
I’ve done it twice. Used a title company. Listen to buckly
 
"She gets a little irritated with my buying of more land and not sticking money in to silly things like a new kitchen"​

I feel your pain
 
I've done it twice. Used a title company both times and it worked very well. Both seller and buyer felt very confident and comfortable with the title company taking care of everything.
 
What did your title companies typically charge? I used a title company twice, once was 700 bucks and very pleasant. The second time wasn't a great experience
 
What county is the land in. I see you are in NE WI so I may be able to recommend a good title company from my own experiences.
 
CedarSwamp said:
What county is the land in. I see you are in NE WI so I may be able to recommend a good title company from my own experiences.
Click to expand...
This one's in sheb county
 
Bszweda said:
"She gets a little irritated with my buying of more land and not sticking money in to silly things like a new kitchen"

I feel your pain
Click to expand...
Me too...

I'm also with Buckly. Always cheaper to use a lawyer up front then on the backend if something goes wrong.
 
Your girlfriend is your legal rep?

I have done 2-3 direct purchases. A Title company does not represent the parties purchasing-selling, they represent the insurer.

Get an attorney ... one that represents your interests. Mine found multiple errors in the title language that had to be addressed to make sure insurance language was correct.

Vacant land is the most risky purchase you can make as there is always questionable & challenge-able title history.
 
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Yeah with some stuff she is. She's been around 8 years, she'd be a wife if her family had acreage ;)

I realize I roll the dice on some purchases, houses I never buy without lawyer, way to easy for second, third, whatever mortgage to be in effect and unmentioned, especially since houses I chase generally come from those in financial distress. I've never seen that (yet) with bare land. And I've lost out on deals I wasn't sure about in the past when I wanted title search bit owner went with someone else willing to do a quit claim on the spot
 
Most of the BayTitle and Abstract title companies do a good job and there is one in Manitowoc that may be good to work with. Most of my business has been to the North of there so not familiar with sheboygan county.

The cost will depend upon the purchase price, but closing fee is generally $200, deed prep around $150, and the seller should pay for the Buyers Title Commitment. If you borrow money then the most expensive part is the Lenders Title Commitment and the Appraisal. The cost of the Lenders Title Commitment will be dictated by the loan amount. Recording the deed is $30 and if you have a mortgage it also costs $30 to record it at the courthouse.
 
Northbound said:
She's been around 8 years, she'd be a wife if her family had acreage ;)
Click to expand...

Son, don't look for a wife based on acreage. Particularly if it's the back 40. :emoji_thinking::emoji_astonished::emoji_fearful::emoji_scream::emoji_stuck_out_tongue_winking_eye:
 
And don’t let her read this either...


Sent from my iPhone using Tapatalk
 
I would make sure you don't make something common law or you may end up with have the acreage and her a new kitchen
 
On a serious side I have bought all my land directly,first thing is I get a purchase agreement signed as it never fails thsat someone else hears about the possible sale and offers them something trying to outbid you.They after agreement is signed I send to title company to be checked for past liens and get title insurance.The title company sets up closing and we meet seller gets their money and you get land payment.The banks will either bring or send a check with paperwork to closing company.
 
I've done it twice and just run it through our lawyer, was pretty simple.
 
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