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researcher
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# Posted: 19 Aug 2010 01:19pm
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As I get closer to finding a property to buy I am looking into the details associated with the actual purchase and transfer of deed. I am in NY and would like to know if anyone in NY, or the US in general, has purchased their property without a lawyer? I'd love to save that money to build a cabin.
What is involved? Can I find out all pertinent info pertaining to the deed, liens, etc. on my own from public records?
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nathanprincipe
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# Posted: 19 Aug 2010 02:32pm
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I bought my land in texas w/o using a lawyer. The county's clerks office was able to provide ( for a small fee, I believe around $130) a "quit claim" deed to the seller and my self, basically he put his notarized signature on the document stating he was transfering the deed to me, there were no closing cost etc. I realize tho I took a risk being I had to mail the seller a check for the property before he would sign it over
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Gary O
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# Posted: 23 Aug 2010 06:59am
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Yeah, the country clerk here in Oregon (for bare land) does the job. If you have any angst about that, check in with a title company.
A 'quit claim' deed is good if you know for sure that the property is free and clear, but a warrenty deed gives you that assurance, and that's what a title company is all about. They search our any liens or back taxes that may be against the property.
A lawyer or realtor for that matter, will just take your money and run your documents thru the title company. They are from the same gene pool...........
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researcher
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# Posted: 23 Aug 2010 07:15am
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Yeah, I spoke to two lawyers, and for $400 they will check the title and file the record of the deed. It seems like it's something I could do on my own with title insurance. But then again title insurance is about $400, and a lawyer will eliminate the need for title insurance (in most cases).
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Gary O
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# Posted: 24 Aug 2010 07:36pm
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Looks like a coin toss.
Haven't really dealt w/Title Cos for a few years, but in the past they have always been more than helpful with tons of info, and don't charge by the minute.
Lawyers on the other hand...excuse me, I have a sudden need to wash my other hand.
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Scott_T
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# Posted: 25 Aug 2010 12:30pm
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I used a real estate lawyer recently to draw up a contract and take care of the transactional "details" for a real estate deal (I did not use a RE agent). If you are clear about what you want to get out of the deal and share this with the lawyer I think it is money well spent as they are familiar with the legalities and potential pitfalls in buying real estate. Should be just a few hundred dollars which is far less than most agent commissions on raw land deals. You could also use the attorney as your escrow agent for any earnest monies.
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Gary O
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# Posted: 25 Aug 2010 06:40pm
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True. In selling, I've used real estate lawyers to draw up contracts. They are very much in the know as opposed to myself or an agent in creating legal verbiage for your intent (other than typical stevens ness type simple transactions).
And, I agree Scott_T, RE agents are quite over paid, limited in legal capability, and too few are well informed.
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ericdj
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# Posted: 30 Aug 2010 12:23pm
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When I bot my little pc of the Ozarks I asked the lady at the title company a bunch of questions and she was SO helpful....the title co. fee was $300., which, for a first time land buyer, was reasonable, I thot....and I didn't feel the need to wash my hands afterward...
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dabones
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# Posted: 20 Oct 2010 03:36pm
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We bought our property in NY state as well w/o a lawyer, its in Cattaraugus County..
We bought from a real estate agent, but he was the owner of the property, so there was no fee's related to teh sale..
we paid some transfer taxes, after the sale was done and he had the papers filed, then a couple wks after the sale, we got the Deed mailed to us here in Ontario from the Cty Clerks Office.. and I have received tax bills since, so I guess it's all good..
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Jerry
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# Posted: 21 Oct 2010 09:47am
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When I bought my property (Minnesota) it was from a neighbor whom I trusted, so that was my reason for doing the legwork myself without a lawyer. I did pay a title company to do a title search so we could verify that there were no unknown gremlins in the closet. We obtained a Quit Claim deed and met at my credit union where we completed the the form and transferred the money. I then filed the deed at our County Auditors Office. Two months later I received a letter from our County Health Department informing me that I had failed to file a septic system inspection which needed to be performed by a licensed inspector from the private sector. That needed to be completed before the deed could be transferred. Usually this cost is assumed by the seller ($300+), and it needs to be filed even for an outhouse/gray water system like I have. So, bottom line, I saved some money by avoiding an attorney but it cost me more on the other end because we didn't know all the latest rules and requirements. Good luck to you.
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toyota_mdt_tech
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# Posted: 25 Oct 2010 02:53pm
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Quoting: researcher What is involved? Can I find out all pertinent info pertaining to the deed, liens, etc. on my own from public records?
Go to the county assesor, you can do a property search. Some will have a map feature, and it wil give you lots of into, ie who owns it, how much taxes are, assesed value. As for a lein, not sure. Make sure you have timber, water and mineral rights also. If you want a septic later, maybe a perk test???
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RalphMcFadden
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# Posted: 17 Feb 2017 04:10am - Edited by: RalphMcFadden
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Nice info
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