Heirship Issues Part1: Selling Probated Vacant Land

Heirship Issues Part1: Selling Probated Vacant Land
Hi, I’m Beth with TB Properties Buys Land. In these next couple videos, I’m going to discuss with you a couple title issues that we run across. So a lot of people, they’re ready to sell their vacant land, maybe it’s been left to them by a family member, but they’ve got title issues. They know if they were to go to a realtor, they wouldn’t be able to sell their property because the property may not be in their name, or it was left to them, but there’s paperwork that needs to be fixed in order to sell that property. And that’s why it’s great sometimes to work with a real estate investor. Real estate investors like TB Properties Buys Land, we are already going to pay for all the closing costs, so we acknowledge that sometimes in these closing costs there’s attorney fees or title fees that need to be corrected. And it costs a little bit more money up-front in order to fix that so that you can sell your property.

So let’s just say there was a property that was left to you and it was in a will, it was probated. The question is, can you still sell that property or is it ready to be sold? The answer to that question is, yes. It’s just a matter of how long it’s going to take and what needs to be done. So if you have property and a will has been probated, the first thing you’ll need to do is get a copy of all that probate paperwork and the title company is going to need to see that. Okay. So one of the first things in the process is once we agree upon a price, of course, and send a contract over, we send that to the title company, the title begins to prepare what’s called a title commitment. And it provides all the background information that we as the buyer would need to know.

So if they don’t have that probate paperwork, a lot of times they’re going to say, “Hey, this isn’t in your name, you can’t sell it. Additional information needs to be done.” And that probate paperwork will take care of a lot of those questions that the title company would otherwise have, so that’s going to clear up a lot of time. It’s going to speed up the process, if the will has been probated, and you’ve got that paperwork that you send that right over, along with the contract. We’ll send the contract to the title company. We can tell you exactly where to send that paperwork to. Okay. So yes, that can be done. And a lot of times what we’ve found is, if that will has been probated in another county, oftentimes that stuff is not recorded in the county where the property is located, so they simply need that paperwork. They need to be able to record it and clear that chain title so that you can sell your property to a real estate investor like TB Properties Buys Land.

So hopefully that clears up that question. Next time, we’ll talk a little bit about, if there wasn’t a will that was probated and how you can still sell that property, if it’s been left to you. But TB Properties Buys Land, we’re real estate investors. We currently purchase vacant land, bare land, that’s 10 acres or more. If it’s less reach out to us, but we tend to do more recreational and residential type properties, that is a little bit larger. We pay cash. That means that we’re able to close faster. You’re not waiting on us to go and get a loan, which might require an appraiser to get out there and the lender to approve things like that. No, we’re paying in cash, so it’s going to be faster.

We pay all the closing costs on the transactions. So we pay for the recording fee that goes to the county. We pay the escrow fees, the title company that includes the buyer and the seller escrow fees. We pay for the title insurance, so that your title is insured. And if there’s any excess taxes, we take care of that. Again, if there’s title issues, we’ll cover that as well. And that sometimes is a big barrier to you selling your property in the first place. You may not have thousands of dollars to clear that chain title in order to just try to sell your property. And that’s where we can provide a solution. But if you have questions, please reach out to us. We’re happy to answer any of those questions. And I look forward to talking to you next time about more title issues. Thanks.
Ready To Sell Your Vacant Land?

Get a fair all cash offer on your unwanted raw land below. We're professional land buyers and can make you a no-hassle no-obligation offer on your property.

Get Started: Get Your Cash Offer Below...

We are direct land buyers. There are no commissions or fees and no obligation whatsoever. Start below by sharing where your property is and where we can send your offer...
  • What county and state is the property located in?
  • This field is for validation purposes and should be left unchanged.

Leave a Reply

Your email address will not be published. Required fields are marked *