Posted on: 20th Aug, 2010 04:21 pm
in illinois.....neighbor going through divorce--needs money--wants to sell us acreage. the land is not listed, and we are willing to pay cash......what are the steps we need to take to ensure this will be a legal, legitimate transaction? he does not want to involve real estate broker and mentioned quit claim deed (which i just read about and will not do)....do we need lawyer? does he need to have property surveyed? how do we proceed?
thanks
thanks
Welcome tmac,
If the property is free and clear, then your neighbor can sign a warranty deed and transfer the property to you. You can pay off the sale price to him in order to get the property transferred in your name. Your neighbor can contact a real estate attorney and get the warranty deed drafted from him.
If the property is free and clear, then your neighbor can sign a warranty deed and transfer the property to you. You can pay off the sale price to him in order to get the property transferred in your name. Your neighbor can contact a real estate attorney and get the warranty deed drafted from him.