? please fsbo
Click here for Top Ten Discussions. CLICK HERE for Q & A Homepage
Receive Free Rental Owner Updates Email:  
MrLandlord Q & A
     
     
? please fsbo (by Jason [MI]) May 1, 2021 11:21 AM
       ? please fsbo (by Nicole [PA]) May 1, 2021 11:27 AM
       ? please fsbo (by Richard [MI]) May 1, 2021 11:39 AM
       ? please fsbo (by Jason [MI]) May 1, 2021 11:43 AM
       ? please fsbo (by Dave [MO]) May 1, 2021 12:57 PM
       ? please fsbo (by ned [AL]) May 1, 2021 1:45 PM
       ? please fsbo (by small potatoes [NY]) May 1, 2021 10:34 PM

Click here to reply to this discussion.
Click Here to send this discussion to a friend

? please fsbo (by Jason [MI]) Posted on: May 1, 2021 11:21 AM
Message:

Hello..

Have a question.. I have a cash offer of 120k to buy a piece of vacant farm land from me. He is getting perk permit on Monday.. Everything will be fine, there are homes all around. Whats next? I am calling my agent or title company on Monday but i like to be prepared.. I assume can just give info to title comoany an they will just close the deal?

--107.117.xxx.xx




? please fsbo (by Nicole [PA]) Posted on: May 1, 2021 11:27 AM
Message:

I assume you already have a written contract. If not, figure that out right away. Googling may be okay but each state has a few of their own quirky laws. Anything is better than nothing.

where I live, the buyer hires the title company or attorney. Seller prepares and submits a deed to them a week or a few days prior to closing. --72.70.xxx.xx




? please fsbo (by Richard [MI]) Posted on: May 1, 2021 11:39 AM
Message:

Call the title company. They will handle everything. They also generally have purchase and sale agreements in house that cover state required clauses, etc. Their lawyers review it all.

Be careful if the buyer uses their own agreement. If they do, have title company or better yet, your lawyer review it.

Get the money into the title company's escrow account immediately. If the buyer want's to put up a deposit and the rest at closing, make it a large deposit and non refundable. As it is non refundable, have the title company pay the deposit to you immediately, or the day any contingencies clear. If you leave the money in their account and anything happens, the buyer might be able to tie it up somehow and there is a possibility that you will not get it.

Be sure that the buyer is not just trying to flip the contract because if they are and they cannot find a new buyer, they might walk from the deal and try to get their deposit back. That's one reason for making the deposit non refundable and as large as possible, preferably over 10 percent and 20 percent is better. Don't let the buyer tie it up with a hundred dollars. --24.180.xx.xx




? please fsbo (by Jason [MI]) Posted on: May 1, 2021 11:43 AM
Message:

Thanks for info --107.117.xxx.xx




? please fsbo (by Dave [MO]) Posted on: May 1, 2021 12:57 PM
Message:

100% what Richard said. --174.234.xx.xxx




? please fsbo (by ned [AL]) Posted on: May 1, 2021 1:45 PM
Message:

good advice from richard --70.92.xx.xx




? please fsbo (by small potatoes [NY]) Posted on: May 1, 2021 10:34 PM
Message:

was the property listed? Why not list it and see if you get a higher offer? --24.194.xxx.xxx



Click Here to send this discussion to a friend
Report discussion to Webmaster


Reply:
Subject: RE: ? please fsbo
Your Name:
Your State:

Message:
? please fsbo
Would you like to be notified via email when somebody replies to this thread?
If so, you must include your valid email address here. Do not add your address more than once per thread/subject. By entering your email address here, you agree to receive notification from Mrlandlord.com every time anyone replies to "this" thread. You will receive response notifications for up to one week following the original post. Your email address will not be visible to readers.
Email Address: