What Documents Do I Need to Sell My land?
Documents Needed to Sell Your Land
You’re finally ready to sell your property, but you don’t know what documents are required for a land sale. Fortunately, this article will answer all of your questions about the necessary documentation requirements. You’ll learn why it’s important to have an experienced land consultant when considering selling any type of property and how they can help with every step in the process.
The first document you need when you’re ready to sell your land is a Real Estate Purchase Agreement. A Real Estate Purchase Agreement is a document that outlines the terms of a land sale, including any contingencies and other details.
You’ll want to make sure your contract includes clauses for inspecting the property before closing on it, as well as information about what happens if financing falls through or an inspection discovers flaws in the property. Generally speaking, there are four types of Real Estate Purchase Agreements: Sellers Contract with One Buyer (Seller Contingent Agreement), Seller Contract with Multiple Buyers (Limited Partnership Agreement), Purchaser’s Contract with One Seller (Buyer Contingent Agreement) and Purchaser’s Contract with Multiple Sellers (Joint Venture). The type you choose depends largely on how much risk you’re taking by selling your land.
The second document you need is a Closing Disclosure Statement. A Real Estate Closing Disclosure Statement is a written summary of the important information that sellers are legally obligated to disclose about a property.
The third property document is the Deed. A Deed is the legal document that transfers ownership of real property from one party to another.
With these documents a property seller will be able to complete the sale of their land.
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