How To Buy

How To Buy 2017-03-03T18:05:37+00:00

Our goal at Land Endeavor is to make the purchase of land as simple as possible while protecting your interests as a buyer. Below we discuss two ways to close a real estate transaction and how to purchase our property online.

Real Estate Closing Process

In general, there are two ways we close real estate transactions (attorneys can also close transactions), which are summarized below. Each closing process has a set of risks and benefits, so it is important for buyers to understand the differences.

Title / Escrow Close

Close the transaction through a title company
Pros
  • Receive title insurance to protect against title defects

  • Title company handles all administrative tasks (e.g., records deed with county, completes paperwork, etc.)

  • Funds sent to neutral third party

Cons
  • Marginally more expensive

  • Typically takes a week or so longer to close – but usually very fast if title insurance was recently issued

Notary Close

Close the transaction by seller issuing a notarized deed to buyer

Pros
  • Typically faster to close

  • Less expensive than using a title company

Cons
  • No title search / insurance to protect against title defects which can be costly and time consuming to correct

  • You have to record the deed and supporting documents with the county instead of title company managing it

  • Likely more costly / time consuming in the long run (your future buyer / lender wants title insurance, etc.)

At Land Endeavor, we have purchased many of our higher value properties with title insurance (indicated in the listings) so that you can be confident that when you purchase from us you will have full ownership of the property. Although, in order for you to benefit from the title insurance policy we have purchased (at a reduced cost to you given we just did the title work), the transaction must be closed through the title company we used.

As noted in our listings, the buyer is responsible for all title / escrow costs which vary from state to state but typically range from $400-$700 if title insurance was recently issued. Typically, title companies will only charge the escrow fee and waive the title related fees if they recently issued insurance on the property. Feel free to contact us with any questions.

While title insurance is not required to purchase property, we typically recommend that buyers purchase title insurance on properties of significant value. We wrote an extensive article on title insurance and the potential title issues that can arise here.

Land Endeavor Online Purchase Process

Our online purchase process is straightforward:

Step 1:

Select a property you would like to purchase and click ‘BUY NOW’ to pay the earnest money deposit to reserve the property. This amount will reduce the total purchase price or down payment in an owner financing scenario (if available).

Step 2:

Fill out your payment and contact information details in the shopping cart.

Step 3:

In the ‘Additional Information’ box please let us know the following:

  1. If you would like to pay the full purchase price in cash or if you would like to use an owner financing option, if available. Please note that owner financing is not available on every parcel, so review the listings for owner financing availability before you check out.
  2. If you would like to close via an escrow / title company to receive title insurance or do a notary close to just receive the deed.

Step 4:

Read through and accept the Terms & Conditions and then click ‘PLACE ORDER’.

Step 5:

If you are paying the full purchase price in cash:

  • We’ll send you a purchase agreement separately to sign

If you are using an owner financing option (if available):

  • We’ll send you a document package which includes a purchase agreement and land contract which contains the financing terms agreed upon to sign and we’ll set you up to make automatic electronic payments

Step 6:

If you are paying the full purchase price in cash:

  • Once the purchase agreement is signed, we’ll open escrow with a title company so you can benefit from title insurance or we’ll send you a notarized deed along with instructions on how to record it with the county once we receive the full purchase price, based on your preference.

If you are using an owner financing option (if available):

  • Once the terms of the signed purchase agreement and land contract are fulfilled (i.e., you pay off the amount owed), we’ll then open escrow with a title company so you can benefit from title insurance or we’ll send you a notarized deed along with instructions on how to record it with the county, based on your preference.

Questions?

Check out our FAQ page here or contact us.