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Buying or Selling a Home/Buying land and a building from Neighbor

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Expert: - 11/12/2006


Question
Our neighbor has agreed to sell a 60 X 90 ft section of her yard to us that also has a small barn on it.  We agreed to do it on contract between each other.  What are the steps I need to take to make this transaction happen?



Appraise it?  (Who pays for this?)
Survey it?    (Who pays for this?)
Check title?  (Who pays for this?)
Make her an offer -- thanks

Answer
You don't say in which state you reside, but the first thing you must do is to go to your city/county planner and find out if what you are trying to do is even legal. If it is, they will tell you what you must do. As for the fees involved, Jake, that's a matter of negotiation between the parties. You may want to engage a REAL ESTATE attorney to help going through the process . . . if it is legal.

I do wish you well

Dick Dennis

Buying or Selling a Home

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Dick Dennis

Expertise

With more than 41 years as a real estate broker, I can solve most any problem presented. If I can`t, I do my research. Problems with mortgages, trust deeds, foreclosures, odd ways of conveying titles. Most any good Realtor can answer questions satisfactorily, but I answer questions that most cannot. Also, ask about my hard-copy newsletter, The Landed Gentry. It can also be sent to you via PDF.

Experience

Solving real estate problems for 37 years.

Organizations
National Association of Realtors

Publications
Publishes The Landed Gentry, guest writer in Who's Who in Creative Real Estate, First Tuesday, Financial Freedom and many newspapers

Education/Credentials
e-Pro Realtor, Certified Distressed Property Expert, Who's Who in Creative Real Estate

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