I'm selling a piece of land on ebay, and I have no idea what to do after the auction ends. Transfer the deed, register the sale... I don't know. Origionally I had intended for a title company to handle all the paperwork, but I just found out that it is illegal in Michigan for a title company to handle and titles that they have not personally done a title check on, and a title check is a minimum of $650. Anyone out there know what I have to do upon the auction ending?
Property sale on ebay
- Thread starter skarydrunkguy
- Start date
MikeyIs4Dcats
Lifer
- Nov 5, 2001
- 18,366
- 3
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Consult a local Real Estate attorney..... NOW.
:Q
Do the words Proper preparation preventing.... mean anything?
Details , Schmetails...... :beer:
You're about to have sold a piece of property and want *us* to tell you what's involved in the process?
At this point, you're probably in serious need of a local real estate lawyer.
You need to contact your attorney and the town in which the title to the land is held.
Christ man, how do people like you even OWN land?
Christ man, how do people like you even OWN land?
i was just wonding if anyone that might also happen to reside in michigan has ever sold land on ebay. you people must get your jollies from excessive and useless banter.
Originally posted by: conjur
You're about to have sold a piece of property and want *us* to tell you what's involved in the process?
At this point, you're probably in serious need of a local real estate lawyer.
oh please... worst case scenario (and I do mean worst case) I just pay the $650 and have a title company take care of it as per my original plan.
Originally posted by: edro13
Try the For Sale / Trade forum...
But I have nothing for sale or for trade... I've seen how you jackals tear into people who don't post in the correct forum... this is most definately an Off Topic thread.
Actually, as a seller...you really don't have much to worry about. As long as you receive the money, you are pretty much secure.
All you really are required to do is draw up a General Warranty Deed. You can get the preformated forms at www.nolo.com
It's the BUYER who must worry...Title companies are for the benefit of the BUYER, not the seller. Title insurance company research issues such as whether or not you really own the land...whether the person that sold you the land, really owned the land...etc
But as long as you receive the money, why worry?
All you really are required to do is draw up a General Warranty Deed. You can get the preformated forms at www.nolo.com
It's the BUYER who must worry...Title companies are for the benefit of the BUYER, not the seller. Title insurance company research issues such as whether or not you really own the land...whether the person that sold you the land, really owned the land...etc
But as long as you receive the money, why worry?
Also, it's not the seller's responsibility to file the deed transfer at the local registrar. That's the buyer's responsibility.
Go to nolo.com...lots of good info there.
Go to nolo.com...lots of good info there.
Thanks Mr. Brown. nolo.com has some interesting info and has been bookmarked for future referrence. It is the seller who is required to transfer the property to the buyer, but not register the deed, aparently. I was just hoping that I could accomplish this much more conveniently by hiring a title company or real estate company for $200 max (which is what it seems like everyone else on ebay does) instead of driving all over the place and visiting notaries and such. As it is, it looks like I'm going to have to pick up a warranty deed, sign it in front of a notary, and have it 'documented' at the county level, after which I will be free of responsibility (once I mail the deed to the buyer, of course). The buyer must then register the deed at the local level.
At least I've got more than a year to figure out how my taxes will be affected by all this.
I have sold and bought land in Michigan but not on Ebay. Do you have a deed or title to the land?
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