The Hemingway Land Company works to make our transactions as easy and efficient as possible for the landowners we buy from. In fact, people we do business with are typically surprised at how effortless we’re able to make the sale process.
For those interested in selling an inherited or unwanted property, there are two methods which we typically use to fund and “close” purchases of land. The method we elect is contingent on the price being paid and the complexity of the chain-of-title history. Those two methods are as follows…
I.
Title/Escrow Close
This method employs a title company to investigate title history and insure the property. In addition, they work as a third-party intermediary in drafting the conveyance documents as well as disbursing the funds. This guarantees not only that the property can be conveyed to our Company with clear and marketable title, but that we do not take possession of your land until such a time as you’ve been paid for it.
When Do We Use This Method
Typically, anytime we’re spending more than $2,000 to purchase the property, or in certain cases where we believe too much additional documentation will be required to confirm the chain-of-title.
How Does This Process Work
Once we’ve come to an agreement on the purchase price, we will email you a Sale/Purchase Agreement to sign. This will be a simple, one page contract with one page for signatures. Once you sign it, we will submit it to the title company, and they will handle the research, insurance and conveyance process. This is something that normally takes about a month to a month and a half, during which time we keep you informed about the progress of the deal. At the end of the research period, the title company will send you documentation to sign, including a new deed, which you will be required to send back to their offices. Once the title company has your signed deed and our funds, they will disburse payment to you, and convey the land to us.
Common Questions/Answers:
It depends where the property is located. Most companies only service specific regions and we have long-standing relationships with numerous companies throughout the regions we purchase in.
No. We prefer to work with companies we know and have done business with before.
Nothing. Our company pays all the closing costs on properties we purchase.
No. The entire transaction can be done from the comfort of your own home and will require little more than one trip to your local post office.
II.
Notary Close
Also described as a “close outside of escrow” this method employs a mobile notary local to you, the seller, to act as the third-party intermediary getting deeds signed and disbursing funds.
When Do We Use This Method
Typically, anytime we’re spending less than $2,000 to purchase the property, or in certain cases where we feel confident enough in the title history to proceed without obtaining insurance.
How Does This Process Work
Once we’ve come to an agreement on the purchase price, we will draft a new deed and email it to you for your review. Once you’ve approved the new deed, we will hire a mobile notary in your local area. We will mail them a copy of the new deed you’ll be asked to sign, plus a cashier's check for the agreed upon purchase price. Once the notary receives the packet in the mail, they will set an appointment at a time and place of your convenience to collect and notarize your signature on the new deed and pay you the agreed upon money. Once the signing has taken place and you’ve been paid, the notary will mail the signed and notarized deed back to our offices and we will forward it on to the county for recording.
Common Questions/Answers
Nevada State Bank.
No.
Nothing. The notary is hired and paid by our Company.
Ready to Sell?
Great! Simply fill out this questionnaire and someone from our Acquisitions team will be in touch within the next week.