We are in the process of selling a piece of vacant land that we have had for a while. In your opinion what is the best way to do the deal. Should we do a quit claim deed or go through a title company? Is there another, better way that we are not aware of?
Oh yeah, we already have the buyer and price negotiated.
Thank you in advance
I would assume the buyer will be doing a title search. Thats his responsibility. Quitclaim deed should be find assuming the buyer does the title work and finds no issues. Im not sure about your title company question. That may be specific to your state.
Thank you for this info Rob! Any suggestions on the easiest way to do a quit claim deed? Do we need to go through a lawyer or can we just do one up on our own?
I've written a few quit claim deeds and I'm no lawyer. There are tons of templates to follow online. Really just a fill in the blanks kind of thing. Hope that helps!
I personally would never buy land (or any property) without a title search and title policy from a reputable title company. The fees depend on property price and if there is a mortgage. Selling with a quit claim might be ok unless you're a real estate agent. Licensed agents will always be held to a higher standard, especially if problems arise later with survey, encroachments, easements, liens. etc.
When I sold my land (that I improved then sold) in WA, I just used a title company. I knew the buyer - he put in my septic system :-)
How did the deal go? Did you end up using an online service for the Quit Claim Deed? Also did the seller have a problem with the deed being Quit Claim as opposed to Warranty Deed?
A quit claim deed would never suffice for me if I was a buyer. All a quit claim deed does is convey the interest the person issuing the deed has in the property. It in no way ensures that there aren't other "owners" or "liens" against the property.
If I might suggest, it can depend on the value of the land and your comfort level. Quit claim is the cheapest and easy to do yourself. The least strings for a seller. Go to deeds.com and download a deed for your county. Get the latest deed from the county and copy information from the latest deed to the deeds.com one.
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