# Question on Property Transfer



## moonspinner (Jul 2, 2002)

I found a buyer for my place (yay!) and we are going to the deed office to sign it over to him. My question is does the buyer pay me at this time or wait until the deed is mailed to him which takes 2-3 weeks?


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## painterswife (Jun 7, 2004)

No pay, no deed transfer.


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## TnAndy (Sep 15, 2005)

Normally, someone has to prepare a new deed from you to them, not just 'sign it over'....but as PW said....you hand me money, I hand you deed.


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## Alice In TX/MO (May 10, 2002)

You don't do it the way you think you are going to do it, Moonspinner. You are asking for a world of problems.

You can get a title company to handle it for you instead of a realtor or attorney, but there are few shortcuts that don't create problems.


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## moonspinner (Jul 2, 2002)

Yes, I realize you need a new deed and have to make out additional forms like transfer tax. But actually Alice, the buyer questioned his lawyer on the best way to proceed, and the lawyer told him with such a basic transaction she advised this route.


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## moonspinner (Jul 2, 2002)

Yes, I realize you need a new deed and have to make out additional forms like transfer tax. But actually Alice, the buyer questioned his lawyer on the best way to proceed, and the lawyer told him with such a basic transaction she advised this route.


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## Alice In TX/MO (May 10, 2002)

This is land, correct? Maybe I misunderstood.


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## painterswife (Jun 7, 2004)

If you record the deed without getting paid, you have nothing to prove that you were not paid. It is now in their name.


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## Alice In TX/MO (May 10, 2002)

Don't take a check.


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## Fishindude (May 19, 2015)

Work with a local title company to do this so there are no mistakes made.
It's well worth the couple hundred bucks you will pay them for the piece of mind, knowing things are getting done correctly.


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## Evons hubby (Oct 3, 2005)

I always use a realtor to handle my closings. It's very cheap and I have the assurance that things are done right. I do have a slight edge though, my realtor is a gal I worked with for a number of years when I was actively working the real estate game. We worked sales and listings together, partnered up to buy and sell property together. Developed a very good working relationship in the 11 years or so we shared an office. We made good money, never got rich, but had a lot of fun! She handles my closings for a hundred bucks her part, having deed made is on me separately. If I'm buying I also pay for title opinion. If I'm buying one of her listings then only the title work, her client pays her commission.


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## AmericanStand (Jul 29, 2014)

What is a deed office?
The usual method for transferring the property is to write the new deed hand it to a third-party while the other party writes the check and hands it to the third-party the third party then hands you the items. 
Obviously with a low value property and trustworthy people you can simply hand them to each other .
Do not hand over a deed to someone that is not ready to pay you. 
Cashiers or bank checks preferred


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## moonspinner (Jul 2, 2002)

Actually there are some 4 forms required for property transfer. You fill out the new deed at the county deed office, have it notarized, hand it to the clerk who gladly takes your money and he/she files and sends the deed to the new owner which takes 2-3 weeks. Here in greedy NY State, it's no mere couple hundred bucks. More like $500. Involving other parties like realtors or title companies costs additional.
The parcel in question is 2 acres plus mobile (which of course is separate and not considered real estate.)
Yes, I figured to be paid right before the deed is recorded and by certified check.


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## GTX63 (Dec 13, 2016)

The county clerk spends 10 minutes to record a filing and mail a copy...for $500. smh.


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## Evons hubby (Oct 3, 2005)

GTX63 said:


> The county clerk spends 10 minutes to record a filing and mail a copy...for $500. smh.


In my county the clerk charges X$ per page for recording the deed. Usually comes out to around $20. The state clips us another $1 per thousand of value for transfer tax!
Very few sales in my county would see a $500 transfer tax. If any.


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## Alice In TX/MO (May 10, 2002)

That isn’t the only thing that happens to the deed. Yes, you are paying her salary, but there is a computer data base that has to be updated, the computer system maintained, the building maintenance, the appraisers, the janitor, and etc.


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## AmericanStand (Jul 29, 2014)

moonspinner said:


> Actually there are some 4 forms required for property transfer. You fill out the new deed at the county deed office, have it notarized, hand it to the clerk who gladly takes your money and he/she files and sends the deed to the new owner which takes 2-3 weeks. Here in greedy NY State, it's no mere couple hundred bucks. More like $500. Involving other parties like realtors or title companies costs additional.
> The parcel in question is 2 acres plus mobile (which of course is separate and not considered real estate.)
> Yes, I figured to be paid right before the deed is recorded and by certified check.


What do you care if the deed is recorded? Just hand him the deed in return for the check and walk away you don’t have to get any more involved in that.
You might want to get a receipt for the Deed he might want to get a receipt for the check.


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## Evons hubby (Oct 3, 2005)

AmericanStand said:


> What do you care if the deed is recorded? Just hand him the deed in return for the check and walk away you don’t have to get any more involved in that.
> You might want to get a receipt for the Deed he might want to get a receipt for the check.


If he doesn't record the deed you get the tax bill.


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## AmericanStand (Jul 29, 2014)

And why would you care?


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## Alice In TX/MO (May 10, 2002)

Oh, stop that.


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## moonspinner (Jul 2, 2002)

Yes, that's exactly it. If not recorded I don't get off the tax roll!


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## AmericanStand (Jul 29, 2014)

So ?
Since you don’t need to pay it simply amounts to a couple more letters of junk mail.


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## Alice In TX/MO (May 10, 2002)

Chumming again.


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## AmericanStand (Jul 29, 2014)

Lol no just advocating Not being worried about stuff that don’t matter.


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## TnAndy (Sep 15, 2005)

moonspinner said:


> Yes, that's exactly it. If not recorded I don't get off the tax roll!


Worse case, the county has a tax sale on a property you don't own.....so what ?


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## Alice In TX/MO (May 10, 2002)

Yeah, plan to screw over the buyer. Yup. Yup.


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## AmericanStand (Jul 29, 2014)

Lol there’s no plan to do anything to the buyer

It’s the buyers choice. 
Heck I might even give him a call


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## TnAndy (Sep 15, 2005)

Alice In TX/MO said:


> Yeah, plan to screw over the buyer. Yup. Yup.


No....there are two sides to a property sale. The seller is responsible for delivering a "good" deed to the buyer.....one free of any known defects/claims/etc.....called a 'warranty deed' in Tennessee because the seller 'warrants' he is able to sell a property he holds free and clear, or makes known any claims on it.

The *buyer* is responsible for having that sale recorded as the county Registrar of Deeds office so it's publicly known (including the Tax Assessor's office) the ownership has shifted from A to B, and paying whatever fees are charged to transfer/record it. IF the buyer (or usually their closing agent/bank/etc) doesn't do that in a timely manner, it's their fault.

I've 'daisy chain' bought property before. A sold it to B, who turned around and sold it to me. I took both deeds to the Registrar's office....recorded B's first, then a minute later, recorded mine. It was a stupid situation involving a relative that wouldn't sell me a property (at their asking price, which I offered to buy it at) but would sell to a 3rd party (and sold it for a couple thousand less !). I bought it from that 3rd party.....paying him $500 for his negotiating skills.... 

When they found out the 3rd party only owned it for about 60 seconds, they got even more PO'ed, threatened to sue....blah, blah, blah......but nobody held a gun to their head to force them to sell, and nobody SURE told them to lower their sales price (they really wanted out of the property, just didn't want me to have it), so nothing ever came of it because they had no case. 

I held the property ($55k) for 15 years, and later sold it for $190k, so I'm sure that would have sent them into an apoplectic fit if they knew.


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## AmericanStand (Jul 29, 2014)

If someone is doing wrong in a failure to record situation chances are pretty high it’s the buyer. 
It’s his response ability and usually his benefit.


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## Michael W. Smith (Jun 2, 2002)

I guess living in a small town has it's advantages.

With the several property buys I have done - and even less in selling - I've always gone through a lawyer. All of my deeds have been for simply land - or mineral rights - no house or buildings involved.

My first sell (and only sell come to think of it) was for a deed for mineral rights. I knew "of" the guy but really didn't know him. He contacted me about buying the mineral rights (coal), I told him I would sell for x amount, and he agreed. We met at a lawyer of his choosing. I signed the deed over to him through the lawyer, he gave me cash. His lawyer went and had the deed recorded.

In June, I was contacted by a seller to inquire if I might want to buy adjoining property to me. Again, I knew "of" the people, a brother of a man I know. The couple selling their property decided to come to my attorney's to do the paperwork. (The brother still lives here in the area, so gave the couple a reason to visit him.). We agreed on a price, and I contacted my attorney with a copy of the original deed with information on how the new deed needed to be written up. When the lawyer had it done, copies were sent to me and the seller, both of us agreed it was okay, and we set a day and time to be at the lawyers. Lawyer asked me if we needed him to handle the transaction or just the deed. I contacted the seller who thought we only needed the lawyer to handle the deed, so told the lawyer. The seller agreed a cashier's check from me was okay from the bank.

On the day and appointed time, we were both at the lawyer's office. The seller sat directly in front of the lawyer to sign the paperwork, the attorney's notary authorized the signatures, I handed them the cashier's check from the bank, and we left the lawyer's office. Later that day, the lawyer went to the courthouse and had the deed recorded, and a couple weeks later, the attorney sent me the deed in the mail.

Attorney's fee was minimal and both of us were happy with the transaction.


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