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Richard
Richard, Lawyer
Category: Real Estate Law
Satisfied Customers: 46290
Experience:  32 years of experience as lawyer in Texas. I'm also a Real Estate developer.
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I own a piece of property in Comal County Texas. Adjacent to

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I own a piece of property in Comal County Texas. Adjacent to my property is a quarter acre piece of land that I want to buy. It wasn't listed, so I contacted the owner. He's willing to sale. I want to make a simple cash deal (real cash) without the escrow
process. I've had a title search done and it is free and clear of liens. I want to create a unimproved land contract (from TREC forms) and create a warrantee deed for the sale of the property. I would close with a notary and file the transaction with the county
myself. My question: can I do all this without engaging a closing agent?
Submitted: 1 year ago.
Category: Real Estate Law
Expert:  Richard replied 1 year ago.
Good morning. You are not legally required to have a closing agent. You can close this as a private party transaction. If you are obtaining a title policy, then the title company will coordinate the closing for you. But, it is not required. As long as you get a warranty deed from your seller and pay the seller the purchase price, that's all that is legally required. You will of course want to record the deed to protect your ownership.
Thank you so much for allowing me to help you with your questions. I have done my best to provide information which will be helpful to you. If I have not fully addressed your questions or if you have any follow up questions, or if I have misinterpreted your questions in any way, please do not rate me yet, but simply ask a follow up question without rating so I can provide you with a fully satisfactory answer. If I have fully answered your question(s) to your satisfaction, I would appreciate you rating my service with 3, 4, or 5 faces/stars so I can receive credit for helping you today. I thank you in advance for taking the time to provide me a positive rating!
Customer: replied 1 year ago.
Can I ask a follow up question without incurring additional expense with your advice?
Expert:  Richard replied 1 year ago.
Thanks for following up. Absolutely...just post it in this thread and I'll be happy to address it for no additional cost to you. :)
Customer: replied 1 year ago.
Yes...thanks. I thought what I wanted to do was legal, just wanted to be sure. I understand the warrantee deed requirements and how to execute the sale in presence of a notary and to file the deed with the county to record the transaction. Follow up question: Have downloaded the TREC unimproved property contract. Much of this contract is associated with items associated with the closing agent and other legal entities associated with a non-cash sale, which would be required by lenders. Do I have to use that form, and if so, do I just leave all the sections blank which are associated with a closing agent (ie, escrow fees, title insurance, etc) if they are not used? Or can I create a modified form which simply omits those issues and just has the sections associated with the property description and cash sale? Thanks
Expert:  Richard replied 1 year ago.
You have no requirement to use the TREC form. You can use your own form or you can simply mark up the TREC form and mark through the provisions that are not applicable. It's entirely within your discretion.
Customer: replied 1 year ago.
Perfect advice. Thank you for your help this morning.
Expert:  Richard replied 1 year ago.
You're welcome...it's been my pleasure to help!
Richard, Lawyer
Category: Real Estate Law
Satisfied Customers: 46290
Experience: 32 years of experience as lawyer in Texas. I'm also a Real Estate developer.
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