Online House Hunting

What paperwork/legal documents to I need to sell a piece of vacant land?

We've had an open lot in a development for sale for a couple of years and it's finally sold!! But we never thought through how we would legally do the 'sale by owner' part. What all do we need to do?

Public Comments

1. Get a lawyer.
2. hire an attorney you need a deed, disclosures, sales documents FSBO means you don't have a realtor--get an attorney
3. Depending what part of the country you are living in - contact either an attorney or escrow company. A contract will need to be prepared for the sale; and note secured by a lien for the financing. If you are not sure if you need an attorney or not, contact the escrow company first and they will be able to give you some direction.
4. Generally, you just need to execute a sales agreement with the buyer. There are some very basic ones for free all over the web. Pick one you like and use it. As far as completing the transfer, depending what state you are in you may be able to use a title agent or you may need an attorney. It isn't Chinese math, but you want to be sure the agreement is clearly written. The title examination and deed preparation are for the attorney or title agent to do. Good luck.
5. Relax, this is a whole lot easier than people think. All you need are two things, a buyer and a title company (or escrow company as they are called in some places). The title company will gather and prepare all the documents. If they need something from you they'll tell you but normally everything they need is on file at the court house. You and your buyer will need to put your agreement in writing. A local realtor might give you a blank contract or you can get that sometimes from the title company, stationary shop, or business that sells legal documents. Don't be shy about contacting a title company in advance. They'll be jumping for joy to help you in this real estate market.