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Old 03-14-2018, 08:20 AM   #1
IDFWU
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Default How to Question...Selling land w/out Realtor???

I'm considering selling some land I own (title in hand) to my dad. I think it would be a waste of money to get a realtor involved but am not sure what the process would be to complete the transaction.

Has anyone done anything like this or have any advice? What are the steps?

At this point, i'm not sure if he would pay cash or take a loan and I'm not going to owner finance.
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Old 03-14-2018, 08:25 AM   #2
Honker
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It would be best to find a local title company or real estate attorney to help you prepare the closing documents. Either would then be able to assist with having the new deed recorded by the county.
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Old 03-14-2018, 08:26 AM   #3
bowhuntertx
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No need for a realtor for this transaction. Speak with a local real estate attorney and they can draw up the documents.
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Old 03-14-2018, 08:41 AM   #4
Stan R
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Little different process if he is going to finance. But still would not need a real estate agent.
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Old 03-14-2018, 08:44 AM   #5
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Originally Posted by bowhuntertx View Post
No need for a realtor for this transaction. Speak with a local real estate attorney and they can draw up the documents.
That's what my mom is currently doing. Contacted title company, survey company and RE attorney to divide the property and get it rolling. She mentioned she got low-balled by some guy with "cash in hand" but turned him down and now has another buyer so I assume he is probably going to finance it.

She did mention that she had issues with the county issuing an exact address since the property has never been developed or had an official driveway. I can't remember who it was requiring a exact address but she had to fanagle with someone to finally get it

Last edited by BBReezen; 03-14-2018 at 08:47 AM.
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Old 03-14-2018, 08:48 AM   #6
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Real estate is transferred with a deed, lawyer and title company can help you with that. Just a heads up, think through the tax consequences, I assume you dont want to waste money on taxes either.
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Old 03-14-2018, 09:33 AM   #7
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Originally Posted by batmaninja View Post
Real estate is transferred with a deed, lawyer and title company can help you with that. Just a heads up, think through the tax consequences, I assume you dont want to waste money on taxes either.
I'm picking up what you're putting down. Thanks
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Old 03-14-2018, 10:13 AM   #8
batmaninja
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Starting to smell what I am stepping in?

Quick run down on a few things to consider.

https://www.linkedin.com/pulse/20140...tax-nightmare/
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Old 03-14-2018, 10:20 AM   #9
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Quote:
Originally Posted by batmaninja View Post
Starting to smell what I am stepping in?

Quick run down on a few things to consider.

https://www.linkedin.com/pulse/20140...tax-nightmare/
This is good information if the OP is transferring land in Canada?!?
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Old 03-14-2018, 10:32 AM   #10
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Title company will give you all the forms needed. Part of the closing costs involves their title attorney as well to assure all the requirements are met. Done it myself several times as a FISBO (for sale my owner) without a hitch.
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Old 03-14-2018, 10:38 AM   #11
BrianL
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Originally Posted by kumathebear View Post
Title company will give you all the forms needed. Part of the closing costs involves their title attorney as well to assure all the requirements are met. Done it myself several times as a FISBO (for sale my owner) without a hitch.
This if no lien, if he is doing a loan, credit union/bank will walk you through the steps.
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Old 03-14-2018, 10:44 AM   #12
jheflinland
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Google Warranty Deed Template.

Fill in the blanks.

Grantor is you

Grantee is your father

Legal description will need to be copied word for word directly from the Deed that conveyed the property to you.

Sign it and have it notarized.

File it at the County Clerk's Office.

Take a copy of the Deed to the County Appraisal District.

I'm a landman and have done real estate transactions with no title company or attorneys.
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Old 03-14-2018, 10:58 AM   #13
The Crippler
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Originally Posted by jheflinland View Post
Google Warranty Deed Template.

Fill in the blanks.

Grantor is you

Grantee is your father

Legal description will need to be copied word for word directly from the Deed that conveyed the property to you.

Sign it and have it notarized.

File it at the County Clerk's Office.

Take a copy of the Deed to the County Appraisal District.

I'm a landman and have done real estate transactions with no title company or attorneys.
.
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Old 03-14-2018, 12:02 PM   #14
GatorBait
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Some realtors will help with a contract, I think it cost me a few hundred bucks. They are used to filling out those and could get you on the right track. No need to actually list the property. Good luck
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Old 03-14-2018, 02:01 PM   #15
Ouch
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Quote:
Originally Posted by jheflinland View Post
Google Warranty Deed Template.

Fill in the blanks.

Grantor is you

Grantee is your father

Legal description will need to be copied word for word directly from the Deed that conveyed the property to you.

Sign it and have it notarized.

File it at the County Clerk's Office.

Take a copy of the Deed to the County Appraisal District.

I'm a landman and have done real estate transactions with no title company or attorneys.
I'm a landman, too, and I'd say you're walking a dangerous line here.
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Old 03-14-2018, 02:34 PM   #16
Rush2Judge
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I'm NOT a landman (I don't even know what that is exactly) and I haven't sold any property like you describe but, I have purchased land directly from an individual with no realtors involved. I asked if he wanted to sell, he said "yes" for x amount. It was then on me to find a title office and get them to draw up the contract and do the legwork. Whole process took a little more than a week. It was a cash deal on land only so I don't know how that would change things.
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Old 03-14-2018, 05:41 PM   #17
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Quote:
Originally Posted by The Crippler View Post
.
Checking in from Spring Break vacation to day....


BAHAHAHAHAHAHAHAHAHA!!!!!!!
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Old 03-14-2018, 06:47 PM   #18
Burnadell
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Quote:
Originally Posted by batmaninja View Post
Starting to smell what I am stepping in?

Quick run down on a few things to consider.

https://www.linkedin.com/pulse/20140...tax-nightmare/
Quote:
Originally Posted by The Crippler View Post
This is good information if the OP is transferring land in Canada?!?

Exactly! Reading that article, I was thinking, “that ain’t right”! Then realized the dude is in Toronto!

Nevertheless, the tax consequences need to be examined.
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Old 03-14-2018, 07:55 PM   #19
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.
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Old 03-14-2018, 11:44 PM   #20
jheflinland
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Quote:
Originally Posted by Ouch View Post
I'm a landman, too, and I'd say you're walking a dangerous line here.


Care to elaborate why?


Sent from my iPhone using Tapatalk
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Old 03-15-2018, 02:17 AM   #21
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I just finished this process. I had an attorney draw up the warranty deed. Cost $125.00
Both parties signed at a Notary. I took the original to the court house and had it filed, $45. It was a cash deal. If financing, I'm sure a financial institution will have their own requirements.
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Old 03-15-2018, 07:43 AM   #22
Nate Riley
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For the most part the job of a real estate agent has been done here, which is getting it sold (getting to the "meeting of the minds"). While they can be helpful at an administrative level after that, the important stuff is handled by the title company and lender.

If he is getting financing, just go to the title company and his lender and tell them what you are doing. They should be able to get you on the right track. They might tell you that you need a contract. If so, so to the Texas Real Estate Commission's website and download the contract for Unimproved Property and fill it out. It's not very hard and if you make a mistake they will let you know. You might do a little bit of research to find out which title company in the area (county) is easiest to deal with and can get it done in a timely manner.

I'm big fan of getting title insurance. It's a smart thing to have and its cheap, if any prior owners have a title claim. That said, if he is paying cash and you had the title work done when you bought it (if you got title insurance) and you both are comfortable with what you are transferring, technically, you could go to a local attorney and have them draw up a deed. this might save him a grand or so. I wouldn't recommend do in your own handwritten deed. I definitely would get the title insurance, but this is an option, if he is paying cash.
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Old 08-28-2018, 02:15 PM   #23
1riot1ranger
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Quote:
Originally Posted by Ouch View Post
I'm a landman, too, and I'd say you're walking a dangerous line here.
If it has been platted in the county make sure to follow their re-platting rules. Title insurance won't cover their omissions here. Ask me how I know.....
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