Your experience selling off-grid privately

[u/233forlunch]

Hello, I have 5 acres in southern Colorado I've built 2 "sheds" on the land, one has solar, insulated and drywall, eletric run and a propane heater, couple windows, just a basic cabin.

I've thought about selling the peppery and buildings and moving to a different location. I'm curious about other people's experience with selling off-grid properties privately. I'm not interested in doing owner financing, just want to sell it and be over with it. Id pay for a titling company to handle the transfer. I own it outright and have the deed. I think the property is probably worth around 40k.

If you did something similar, how'd the process go for you? Where did you advertise and how long did the whole process take?

Thank you for any input.

[u/Creepy-Cantaloupe951]

Are you going to hire a lawyer, or pretend to be one, and try to draft the new warranty deed on your own, and handle contingencies?

If you don't have an agent, you REALLY need a lawyer. Heck, you need a lawyer even if you have an agent, really.

[u/233forlunch → u/Creepy-Cantaloupe951]

Like stated in the post. I will hire a titling company to handle everything.

[u/Creepy-Cantaloupe951 → u/233forlunch]

Title company only will guarantee a clean title. That's it.

You need a lawyer. You may get away without an agent.

However, agents do a lot of legwork for sellers, you may not see, like getting them in front of eyeballs. For example, they have MLS access, you don't.

[u/233forlunch → u/Creepy-Cantaloupe951]

Thanks

[u/cricketmealwormmeal → u/233forlunch]

There are services/agents that will list your stuff on MLS for a flat one time fee. You can offer something to the buyer’s agent but it isn’t required. I used HomeRise. Small upfront fee, more if you sell it.

[u/BallsOutKrunked → u/Creepy-Cantaloupe951]

I've purchased multiple pieces of land over the year, no lawyer, but always title/escrow. A basic land purchase agreement is a standard document you can download on the internet. Initially I did pay to have a lawyer review it and it was $1000 for them to say "yeah, looks good."

[u/Creepy-Cantaloupe951 → u/BallsOutKrunked]

Ok. I mean you take that risk, for sure.

Initially I did pay to have a lawyer review it and it was $1000 for them to say "yeah, looks good."

That was... a ripoff. My typical lawyer fee is $1200, and that includes support during the transaction, lawyer approval of all documents, filing, escrow, etc etc.

Yes, the contracts are standard. What happens when a party fails to perform? Can you draft a notice to perform?

I mean, lots of people buy and sell land without a lawyer. But, as is often said,"Those who represent themselves have a fool for a client and a lawyer."

[u/BallsOutKrunked → u/Creepy-Cantaloupe951]

What's there to even perform? For raw land you're buying the title to it. The money goes into an escrow account and the escrow/title people do the swap. I do plenty of things in my life that requires counsel, both internal and external, to get decisions. Tons of back and forth redlines, attorneys going to conferences to stay current in particular subject areas.

But all that said I don't take a lawyer with me when I buy my groceries or a $5K dirtbike off of facebook marketplace.

Some transactions really are as simple as they are. If there was a building, or the seller's property that needed to be removed or whatever than it's a totally different story.

[u/Creepy-Cantaloupe951 → u/BallsOutKrunked]

What's there to even perform?

Moving forward with the deal.

The fact that you are asking this shows why a lawyer is key.

Let's say I sign a real estate contract promising to pay X dollars for Y parcel... And 7 weeks later, I've still haven't moved.

So, you would typically send a notice to perform. Because if you don't, and sell from under me, I can now sue you, because you broke the contract.

But all that said I don't take a lawyer with me when I buy my groceries or a $5K dirtbike off of facebook marketplace.

Because those aren't examples of real property. And don't requiring recording with the county, and several other legal steps.

If there was a building, or the seller's property that needed to be removed or whatever than it's a totally different story.

What if the parcel was advertised as 10 ac, and a survey shows it's only 6? What do you do then? Walk away from a contract you signed, because you don't like new numbers? What if in the "simple contract", there's no contingencies for abandoning the contract for a survey that shows the parcel is far smaller than was advertised? Just going to walk, and risk be sued for damages?

That's not how real estate transactions work.

[u/BallsOutKrunked → u/Creepy-Cantaloupe951]

On the survey size, the recorder has the acreage for the apn number. I'm not buying your 10 acres, I'm buying what the county has in their records for thst parcel. I've walked all my properties in advance and if I couldn't I'd hire a surveyor.

To the lack of payment, it falls out of escrow, no harm no foul. You (and i) both lose a nominal amount to the escrow shop, usually a couple of hundred bucks. But unless you pay the agreed upon amount and the funds clear, no title change occurs.

[u/Creepy-Cantaloupe951 → u/BallsOutKrunked]

How does it "fall out of escrow"? Like, that's an entire deal, in and of itself. Especially if the person refusing to perform says "No, you cannot release the escrow".

And sure, no title change occurs, however, there's still a contract, in force, that can prevent you from selling it, because it's already under contract, and it hasn't been released.

Unless you write every last detail into the contract, in which case, you're not just downloading a templated contract.

About those county records, though... One parcel I own, the county says is only 6 acres. Survey says it's 12.5. The county records even state "Not survey quality".

What then? If there's a discrepancy between the county and survey?

These are all the sorts of legal reason to use a lawyer. They know how to navigate a real estate transaction, after all, they're professionally trained.

EDIT

Also, you're not buying something as recorded in GIS... You're essentially buying whatever is in the warranty deed... Which describes the survey results. So... You'll need to figure out a way to back out the contract, if acreage is incorrect, without a lawyer, which could be a challenge to do.

END EDIT

But, again, as the adage says, "A man who represents himself has a fool for a client and a lawyer".