When selling a property, I typically send the Deed straight to the county to be recorded for my buyers but occasionally they request I send it straight to them or I’ve met a few people who purchased lots locally and gave them the Deed.
There around 8 people who just never got the Deed recorded and I continue getting their tax bill- some are about the lose the property. I’ve contacted all of them letting them know (a few times) but don’t want to spend too much time on it. A few just lost the paperwork so I will resend it but was wondering how often any of ya’ll buy back the lots from people.
One of the guys who bought locally called this week and said he’s low on cash and would “sell it back to me” for half of what he paid for the property. We met, got the notarized deed back and I paid the taxes on it and will resell. Can’t complain about that… Does this happen to many of you? And, do you find it’s usually a cash thing and people are willing to “sell it back to you”?
Sarah – I avoid some of these issues by ALWAYS recording the deed for the buyer. I know that Jack & Jill say to let the buyer record it but I get nothing but headaches when doing that, so I make a big deal out of offering this service for free when they purchase from me. If someone wants to sell the land back to me my standard offer is 1/2 of what they paid me for it.